Update 774 — A Meltdown Retrospective:Lessons Learned from the 2023 Bank Crisis With a year’s perspective, we can look back now at the worst banking crisis in the U.S. since the 2008 financial crisis — and appreciate how and why the failures of that episode were not replicated in 2023. While the frailties of SVB, …
Update 773 — Supplemental’s Status, Roundup of Week’s Other Developments It isn’t the express train but the long-lingering local that the $95 billion international assistance package, originally requested by the administration over six months ago, is riding en route to the finish line in Congress. Once enacted, the White House will sign and herald most …
Update 765 — FY24’s Bell Lap at LastDOJ vs Apple; Bank Merger Rules; NAR Congress is poised to pass the six remaining appropriations bills for FY24 almost halfway through the current fiscal year. Though disagreements between Speaker Johnson and the White House endangered the package in its final stages of negotiation, Democrats have emerged from …
Update 758 — Capital One/Discover:Major Test of US Bank Merger Policy Last week, Capital One, the nation’s ninth-biggest bank, announced an agreement to purchase Discover Financial, the fifth-largest credit card issuer and fourth-largest payment network in the country. The merger would create a financial institution with $620 billion in consolidated assets and the sixth-largest bank …
Capital One-Discover, Major Test of US Bank Merger Policy Read More »
The August recess opened this week with two headline developments. Donald Trump was indicted Tuesday and arraigned yesterday, booked and fingerprinted before pleading not guilty to four counts of conspiring to remain in office after his defeat in the 2020 election. And the U.S. sovereign debt credit rating was cut by Fitch Ratings from AAA …
Update 713 — Updating Bank Capital Rules: Rein in Risk or Dimon’s “Disappointment”? Read More »
Update 708 — Impact of Bank MergersOn Consumers, Investors, the Economy Major goods and services sectors across the economic landscape have come under increasing scrutiny in recent years for anti-competitive behavior, conditions restricting consumer access and choice, and raising costs. When banks merge, by and large, they will maintain fewer branches, provide fewer services, and …
Update 708 — Impact of Bank Mergers on Consumers, Investors, the Economy Read More »
Update 702 — The Long Arm of the ClawWhen Bank CEO Share Sales Sink Firms This morning, the Senate Committee on Banking, Housing and Urban Affairs made a major stride and approved a bill to claw back pay and increase penalties for executives of failed banks, in the Committee’s first legislative markup since 2019. Today’s …
Update 694 – Economic Policy Week in ReviewDebt Limit Stalemate, Failed Bank Execs Plead Case The financial community and much of the American public remain on tenterhooks going into the weekend, with debt limit negotiations on hold and a wide range of outcomes still possible with a dozen days to go before Treasury’s X-date of …
Debt Limit Stalemate, Failed Bank Execs Plead Case Read More »
Update 693 — “Stupid” Bad, but Systemic WorseBank Bust Risks and Rewards for CEOs… and Us Reckless and risky financial behavior is on full display in Washington this week, with financial system stability, if not the macroeconomy in the balance. Exhibit A is the ongoing debt limit negotiation, where serious demands that energy project permitting …
Update 693 — “Stupid” Bad, but Systemic WorseBank Bust Risks and Rewards for CEOs… and Us Reckless and risky financial behavior is on full display in Washington this week, with financial system stability, if not the macroeconomy in the balance. Exhibit A is the ongoing debt limit negotiation, where serious demands that energy project permitting …
