Word: talbotts
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...turns out, that's part of the reason the banks are still resisting selling into the public-private program. "The government plan continues to face a number of hurdles, including too much government overhang," says Scott Talbott of the industry group Financial Services Roundtable. Government officials say the language in a recent Senate bill requiring recipients of government "public-private" dollars to submit to oversight by the special investigator of bank-bailout funds is scaring away both sides of potential deals. "We've run into reluctance on the part of buyers and sellers," says an official. (See pictures of retailers...
...bank stocks up dramatically for the week by close of business Thursday. And for all the grim numbers, the banks themselves were touting the results, too. "The regulators demonstrated that the industry is strong now and, should conditions worsen, will only need minimal capital to remain strong," says Scott Talbott, a top lobbyist for the banks...
...Although relatively few troubled loans will come due before the end of this year, the implications for banks are already being felt. The delinquency rate for commercial real estate loans hit 1.8% in March, triple that of a year ago, according to Scott Talbott, a lobbyist for the Financial Roundtable, which represents the largest lenders. "Losses from commercial real estate are the next economic shoe to drop," he said. "This issue has moved to the forefront...
...massive offer of government leverage to buyers, bankers are turning up their noses at the markdowns they will have to take on assets that once represented a large percentage of their equity. "You're not going to sell if you believe the assets are worth more," says Scott Talbott, the top lobbyist for banks in Washington. "The government dollars may not be enough to reduce the spread between...
Judging from the reaction of industry analysts and the market, Geithner succeeded Monday. The Dow Jones Industrials, led by financial stocks, rallied nearly 500 points, or more than 6%. Scott Talbott, the top lobbyist for the Financial Services Roundtable, said that while some information is missing there's probably enough for buyers to figure out whether it's worth risking their money. "It's not perfect," Talbott said, "But it is a workable framework...