Word: miller
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Dates: during 2000-2009
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These days, however, few people think the capital-purchase plan makes sense. Paul Miller, an analyst at Friedman Billings Ramsey who covers bank stocks, says the problem with it is that the government is buying preferred shares and not common stock. Miller says preferred equity does nothing to help out common shareholders. That's because holders of preferred shares can demand their money back before holders of common stock can. As a result, bank stocks continue to plummet. And no matter how much total capital a bank or any firm has, if its stock goes to zero...
That's why Miller argues that the government should start buying up common stock in the troubled banks, which would boost their stock prices, erase the perception of imminent failure and remove the likelihood that customers will run with their money. It may even boost lending. Of course, the problem with this is that some of these banks might need too much capital - and if the government buys all the common stock needed to fix the problem, it will own the banks, possibly a few times over. So a switch to buying common stock points to nationalization. (See pictures...
...final buzzer saw the junior finish with 13 points on 5-of-6 shooting in 17 minutes. Despite his hot hand, Miller found himself on the bench down the stretch at the end of regulation and in overtime. Amaker cited freshman Keith Wright’s success on the boards (13 rebounds) as the reason for Miller’s absence. Miller had four rebounds...
...Senior guard Drew Housman, who started the game alongside Miller and scored five points, was also absent during Harvard’s stretch run and played just 14 total minutes...
...Junior Doug Miller was the only other Harvard player to score in double-digits. He finished with 13 points and four rebounds in just 17 minutes of play...