DUNN, N.C., Jan. 29 /PRNewswire-FirstCall/ –
Prior to write-off of goodwill, Company’s net income for 2009 was $232,000, or $.03 per share.$8.6 million write- off of goodwill from 2006 purchase of Progressive State Bank negatively impacts results.Depo…
Following the Fed’s statement, the U.S market finished the trading day yesterday in positive territory. Even though the Fed didn’t state any new remarks or engage in monetary tightening, the mixed opinions among the board members sparked Dollar buy…
He writes, apropos of Oregon: >The Oregon Tax Vote: populist anger, which has previously been channeled toward the anti-tax tea party movement, may have the potential to swing in the other direction when people are faced with cuts in programs with w…
By not including what Obama calls the Volcker rule in last summer’s financial regulation plan, Obama made extra work for Barney Frank. But Barney is being a doo-bee and is playing nice: >Frank says Obama bank plan could be law within months: The cha…
It took them a while to react, but central bankers are beginning to voice their approval of US plans to limit bank trading, aka the ‘Volcker plan’.
Yesterday Mervyn King voiced [...]
While the banks are currently taking the blame for the financial crisis, there are other culprits who share at least as much blame, and sound guilty before you even know anything about them: the shadow banks. While SIVs, SIV-lites, CDOs and other struc…
Stan Collender: Brad DeLong Gets It When It Comes To A Commission Michael Linden: How to Spot a Deficit Peacock: Four Ways to Tell When Someone Isn’t Serious About the Deficit Simon Johnson: Is The “Volcker Rule” More Than A Marketing Slogan? Viral…
Is London’s banking system a vital cog that keeps the capital running, or a timebomb in the British economy? Let the debate begin…Dear BorisBanks must be one of the most effective lobby organisations in modern times. You probably saw the recent IMF paper “A fistful of dollars; lobbying and the financial crisis”, which showed the [...]
On October 13 2008 – a public holiday in the US – the Treasury Secretary of the day, Henry “Hank” Paulson, summoned bank bosses to a meeting and made them an offer they couldn’t refuse: $125bn of taxpayers’ money in exchange for equity in n…
He writes: >Glass-Steagal, Part Deux: So what do I think about the new White House initiative on limiting bank size and restricting the activities of depository institutions? >1. It’s OK as part of a broader financial reform, and is a good sign…