Posts Tagged ‘banks’

FDIC Sets Some High Hurdles For PE Acquisitions Of Banks

I don’t find myself saying this often — Congratulations, Sheila Bair! The new rules that the FDIC proposes for private equity buyers of banks have some teeth. I’ve been blogging overtime on this issue and would prefer to see PE out of the picture entirely but, failing that, I had hoped the FDIC would come […]

Opening The Bank Vault To Private Equity

This is one that I just don’t get. The FDIC says it’s going to issue new guidelines for the purchase of failed banks by private equity companies while the newly proposed banking regulations take a harsh stance towards commercial enterprises owning insured depositories. First from the WSJ the FDIC approach: The Federal Deposit Insurance Corp. […]

National Banks Now Have To Answer To The States

As if banks didn’t have enough on their plate with multiple regulators, the Supreme Court just gave them 50 more to deal with. The Supremes ruled that federally chartered banks were indeed subject to state laws and that an attorney general could take them to court to enforce those laws. From the NYT: The justices […]

Firms Accelerate Refinancings

Sometimes it pays to ignore the blizzard of economic numbers that the government spews out and just pay attention to what business has to say about how business is going. On that score in the last few days we’ve had Warren Buffett, GE and FedEx all saying they don’t see any stinkin green shoots. If […]

Deadbeat Banks

The Wall Street Journal reports that three banks that received TARP funds have stopped paying the required dividends to the Treasury. The Treasury says a “number” of banks have not been making their payments. From the WSJ: Pacific Capital Bancorp, a Santa Barbara, Calif., lender that got $180.6 million from the Treasury Department in November, […]

The TARP Bank Execs Keep Flying High

I think that the following pretty much tells us why the banking industry found itself in so much trouble. The guys that run the banks are terminally stupid. The WSJ is out with a report on the use of company owned aircraft for personal use by TARP recipient banks. Some executives at banks propped up […]

Private Equity Moves Further Into Banking

As two articles this week make clear, my Quixotic crusade to stem the tide of private equity into the banking industry is coming a cropper. I wrote a couple of posts over the last few weeks (here and here) decrying the cave-in to the PE industry’s pursuit of banks. Since then Bank United and First […]