Faced with a dwindling universe of buyers for the banks it takes over, the FDIC today agreed to significant revisions in previously announced restrictions on the acquisition of banks by private equity firms. The agency had indicated it would require the acquiring PE firms to maintain a Tier 1 capital ratio of 15% but reduced […]
Posts Tagged ‘FDIC’
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Sheila Bair: Warnings And Shots At The Fed
Posted by Tom Lindmark on June 13th, 2009
Sheila Bair gave Forbes a fairly in-depth interview in which she cautioned that there was still some risk in the banking system and suggested that the Fed should not be the top-dog regulator. Her remarks on the banking system were pretty much what you would expect. It’s still under stress, there is little likelihood of […]
Leaving Small Bank Regulation To The States With A Caveat
Posted by Tom Lindmark on June 11th, 2009
On Friday evenings I always put up a short post chronicling the banks seized by the FDIC. One constant that kept popping up was the high number of Georgia banks that kept popping up on the list each Friday. I asked several times if anyone knew why there were so many but never got any […]
Sheila Bair Exacts Payback From Citi
Posted by Tom Lindmark on June 4th, 2009
Never piss off a regulator. Citi’s executives are now paying the price for having done so. From the WSJ: The Federal Deposit Insurance Corp. is pushing for a shake-up of CitigroupInc.’s top management, imperiling Chief Executive Vikram Pandit, people familiar with the matter said. The FDIC, under Chairman Sheila Bair, also recently pressed a fellow regulator […]
The FDIC’s Bank Deregulation Play
Posted by Tom Lindmark on May 23rd, 2009
More often than not major shifts in public policy arise not from great debate in the halls of Congress but through the actions of some part of the vast bureaucracy of the United States government. The decision by Sheila Bair and the FDIC to sell Bank United of Florida to a consortium of private equity […]
Sheila Bair Says Press Reports Are Misleading AKA I Didn’t Say What I Said
Posted by Tom Lindmark on May 15th, 2009
President Obama didn’t understand what the health care providers were really promising, Nancy Pelosi says no one told her anything about torture but none of her colleagues seem willing to back her up on that one and now Sheila Bair says that she didn’t really say that some bank executives will be replaced. These Washington […]
Heads I Win Tails You Lose
Posted by Tom Lindmark on March 26th, 2009
If ever you needed proof that the game is rigged here it is. From the WSJ: Federal Deposit Insurance Corp. Chairman Sheila Bair said Thursday she would be open to letting banks see some of the profits if they dump problem loans that ultimately recover some value. The comments, made in a conference call with […]
