Obama to Set Exec Pay Limits
February 4, 2009 by Joseph McCafferty
As expected, President Barack Obama and Treasury Secretary Timothy Geithner will today announce new rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
February 4, 2009 by Joseph McCafferty
As expected, President Barack Obama and Treasury Secretary Timothy Geithner will today announce new rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Boardroom Journal
February 1, 2009 by Jeffrey M. Cunningham
New realities and finding opportunity in the financial crisis.
February 1, 2009 by Jeffrey M. Cunningham
New realities and finding opportunity in the financial crisis.
TARP Oversight Panel Skeptical of Bailout
February 1, 2009
The five-member congressional oversight panel responsible for keeping an eye on the implementation of the Troubled Asset Relief Program (TARP) says Treasury has so far not done an adequate job of explaining its overarching plan for financial relief.
February 1, 2009
The five-member congressional oversight panel responsible for keeping an eye on the implementation of the Troubled Asset Relief Program (TARP) says Treasury has so far not done an adequate job of explaining its overarching plan for financial relief.
Despite Record Losses, Ford Refuses TARP
January 29, 2009 by Joseph McCafferty
In what could be interpreted as a show of either financial stability or mere bravado, executives at Ford maintained today that they would not require any bailout funds from the Federal government, despite sustaining record losses in 2008.
January 29, 2009 by Joseph McCafferty
In what could be interpreted as a show of either financial stability or mere bravado, executives at Ford maintained today that they would not require any bailout funds from the Federal government, despite sustaining record losses in 2008.
Former Merrill CEO Thain Subpoenaed
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
Fed Directing Bailout Towards Foreclosures
January 28, 2009 by Joseph McCafferty
In a shift away from its focus on the banking behemoths that have been proven so crucial to the American economy, the Federal Reserve has turned its attentions towards the home foreclosures that were a prime motivator of the credit crisis.
January 28, 2009 by Joseph McCafferty
In a shift away from its focus on the banking behemoths that have been proven so crucial to the American economy, the Federal Reserve has turned its attentions towards the home foreclosures that were a prime motivator of the credit crisis.
Citi Jet Purchase ‘Does Not Fly’
January 28, 2009 by Joseph McCafferty
Citigroup will not receive a new $50 million corporate jet after lawmakers swooped in to stop the bailout-sustained bank from making the purchase.
January 28, 2009 by Joseph McCafferty
Citigroup will not receive a new $50 million corporate jet after lawmakers swooped in to stop the bailout-sustained bank from making the purchase.
Dudley Takes Top Job at New York Fed
January 27, 2009 by Joseph McCafferty
While Timothy Geithner was sworn in as Secretary of the United States Treasury yesterday, the gatekeepers at the his old job debated on his replacement at the New York Federal Reserve Bank.
January 27, 2009 by Joseph McCafferty
While Timothy Geithner was sworn in as Secretary of the United States Treasury yesterday, the gatekeepers at the his old job debated on his replacement at the New York Federal Reserve Bank.
BofA’s Lewis Forces Out Merrill CEO
January 23, 2009 by Joseph McCafferty
The wedding’s over, but the marriage is on the rocks as Bank of America CEO and chairman Kenneth Lewis yesterday forced out former Merrill Lynch CEO John Thain in response to high losses sustained by Merrill in the months leading up to the merger between the two.
January 23, 2009 by Joseph McCafferty
The wedding’s over, but the marriage is on the rocks as Bank of America CEO and chairman Kenneth Lewis yesterday forced out former Merrill Lynch CEO John Thain in response to high losses sustained by Merrill in the months leading up to the merger between the two.
The Outlook: Fixing the Banks
January 22, 2009 by Peter Morici
Banks continue to suffer huge losses, but no one can calibrate how high bank losses will go, because no one knows how far housing prices will drop and how many loans will ultimately fail. Now Barack Obama must act pragmatically to fix the banks or the economy will sink under their weight.
January 22, 2009 by Peter Morici
Banks continue to suffer huge losses, but no one can calibrate how high bank losses will go, because no one knows how far housing prices will drop and how many loans will ultimately fail. Now Barack Obama must act pragmatically to fix the banks or the economy will sink under their weight.
Geithner Wants TARP Reform
January 21, 2009 by Joseph McCafferty
Though still waiting for his confirmation, Treasury Secretary-nomineee Timothy Geithner is already looking to make some changes, starting with a revamp of the Troubled Assets Relief Program.
January 21, 2009 by Joseph McCafferty
Though still waiting for his confirmation, Treasury Secretary-nomineee Timothy Geithner is already looking to make some changes, starting with a revamp of the Troubled Assets Relief Program.
Cox Quietly Resigns at SEC
January 21, 2009 by Joseph McCafferty
While the fanfare and media attention was justifiably centered around the presidential inauguration yesterday, Chris Cox took the opportunity to quietly submit his resignation as chairman of the Securities and Exchange Commission.
January 21, 2009 by Joseph McCafferty
While the fanfare and media attention was justifiably centered around the presidential inauguration yesterday, Chris Cox took the opportunity to quietly submit his resignation as chairman of the Securities and Exchange Commission.
The Outlook: Trade Deficit Paradox
January 13, 2009 by Peter Morici
To the extent stimulus packages expected to be enacted in the United States, Europe, and China lift the global economy, the reduction in the trade deficit will reverse. Oil prices will rise again, and with China increasing subsidies on exports, U.S. imports of consumer goods will soar.
January 13, 2009 by Peter Morici
To the extent stimulus packages expected to be enacted in the United States, Europe, and China lift the global economy, the reduction in the trade deficit will reverse. Oil prices will rise again, and with China increasing subsidies on exports, U.S. imports of consumer goods will soar.
Pressure Falls on Citigroup to Reorganize
January 12, 2009 by Joseph McCafferty
A series of organizational shakeups at Citigroup are calling into question the integrity of the bank’s leadership structure and may lead to an overhaul of the company’s board.
January 12, 2009 by Joseph McCafferty
A series of organizational shakeups at Citigroup are calling into question the integrity of the bank’s leadership structure and may lead to an overhaul of the company’s board.
TARP Oversight Panel Skeptical
January 9, 2009 by Joseph McCafferty
A five-member congressional oversight panel responsible for keeping an eye on the implementation of the Troubled Asset Relief Program (TARP) says Treasury has so far not done an adequate job of explaining their overarching plan for financial relief.
January 9, 2009 by Joseph McCafferty
A five-member congressional oversight panel responsible for keeping an eye on the implementation of the Troubled Asset Relief Program (TARP) says Treasury has so far not done an adequate job of explaining their overarching plan for financial relief.
Icahn: Overhaul Bankruptcy Laws
January 9, 2009 by Joseph McCafferty
Arguing that the public-funded bailout program has so far been ineffective, polemic activist investor Carl Icahn argues that a privately-funded bailout program could work if existing bankruptcy laws were changed.
January 9, 2009 by Joseph McCafferty
Arguing that the public-funded bailout program has so far been ineffective, polemic activist investor Carl Icahn argues that a privately-funded bailout program could work if existing bankruptcy laws were changed.
OECD Warns of Implications of Bad Loans
January 8, 2009 by Joseph McCafferty
In a report released today, the Organization for Economic Cooperation and Development said that a banking crisis is best resolved when bad loans are eradicated prior to recapitalization of the banks themselves, indicating that the current economic crisis has been improperly addressed.
January 8, 2009 by Joseph McCafferty
In a report released today, the Organization for Economic Cooperation and Development said that a banking crisis is best resolved when bad loans are eradicated prior to recapitalization of the banks themselves, indicating that the current economic crisis has been improperly addressed.
SF Fed Chief Calls for Bailout Timetable
January 5, 2009 by Joseph McCafferty
The president of the San Francisco Federal Reserve Bank has called out the U.S. central bank on the bailout, requesting a timetable for withdrawal from lending programs.
January 5, 2009 by Joseph McCafferty
The president of the San Francisco Federal Reserve Bank has called out the U.S. central bank on the bailout, requesting a timetable for withdrawal from lending programs.
Cox Defends Tenure as Prudent
December 24, 2008 by Joseph McCafferty
An interview released today in the Washington Post showed SEC chairman Chris Cox on the defensive, claiming that his agency’s relative inaction during the credit crisis was a function of prudence rather than overcaution.
December 24, 2008 by Joseph McCafferty
An interview released today in the Washington Post showed SEC chairman Chris Cox on the defensive, claiming that his agency’s relative inaction during the credit crisis was a function of prudence rather than overcaution.
The Outlook: What’s Next for the Fed?
December 22, 2008 by Peter Morici
The Federal Reserve has cut the federal funds rate and its short-term lending rate to banks to near zero, but those moves have done little to unlock credit markets. Conventional mortgage money and business loans remain too scarce, as regional banks, which are the arteries and capillaries of our credit system, remain short of loanable funds.
December 22, 2008 by Peter Morici
The Federal Reserve has cut the federal funds rate and its short-term lending rate to banks to near zero, but those moves have done little to unlock credit markets. Conventional mortgage money and business loans remain too scarce, as regional banks, which are the arteries and capillaries of our credit system, remain short of loanable funds.