If you want to know whether the banking crisis is in the third inning or the ninth, consider Corus Bankshares. The Chicago regional bank has made just over $4 billion in commercial real estate loans. The recently completed government bank stress tests assumed that as many as 12% of all such loans could go bad in the next two years
Will investors regret rooting for TARP paybacks?
You know those supersales at your local department store in which they offer great deals on a couple of things in the hopes of getting enough people in the door so they can move the crap too? That’s sort of what the Treasury Department and Tim Geithner are doing with the bank plan that was rolled out on Monday. The problem facing America’s economy has always been how to sell the worst of the toxic assets that are clogging banks’ balance sheets.
A triple-digit rally on Wall Street pushed global markets solidly into positive territory on Tuesday.
Last fall, soon after congress decided it would spend $700 billion to shore up the nation’s flailing financial system, about 100 shareholders of Reunion Bank of Florida gathered for a party. Over crab fondue and London broil, they toasted the start of their spanking new bank
IndyMac will soon earn the first half of its name back. The government, which seized the failed bank last summer, is expected to close a deal in the next week that would return the California mortgage lender to private ownership