It is good news that the big banks are reporting profits, though as some observers have noted, it’s not hard to make money with free funds (provided by thousands of smaller banks who cannot continuously roll over Federal Funds as a way to fund assets), writes William Dunkelberg, Economics Professor at Temple University.
On last night’s Kudlow Report I spoke with Rep. Jeb Hensarling about his thoughts on Treasury Secretary Tim Geithner’s TARP testimony and Team Obama’s overall handling of the banking system and economy.
The Fed plans to release results of the stress test on May 4. Nobody is going to "fail" the test, but some may need capital, private or otherwise. There should also be some word as to how much capital would be needed.
How far will the Obama administration move to assert regulatory control over key sectors of the economy? Are we moving away from democratic capitalism, and toward some sort of corporatist state-directed economy? That could be the biggest stock market and economic-growth issue facing us today.
Requiring banks to account for their use of funds remains a top complaint, said Neil Barofsky, special inspector general to the TARP.
White House and Treasury officials are now talking about turning government TARP loans into common stock for the 19 biggest banks. It’s clearly a backdoor path to nationalization, as Uncle Sam would be the largest shareholder in these institutions. What’s more, it’s not at all clear that the administration will even let certain banks pay down their TARP loans.
Big news today for the banks: The White House and Treasury announced that the economic stress-test results for the 19 largest banks will in fact be made public on May 4.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse I can't stress this enough: the idea of publicly releasing big bank stress test results — in any form — is, well... distressing.
That’s the heartland tea-party message to Washington. Is bailout nation about to strike again? Sure looks like it. According to a bunch of front-page news stories, life-insurance companies are about to get TARPed. This is nuts.
All stocks benefit now that toxic assets no longer threaten the financial sector’s balance sheets. Here’s why.
Is bailout nation about to strike again? Sure looks like it. According to this morning’s front-page Wall Street Journal story, life-insurance companies are about to get TARPed. This is nuts.
Luckily for investors, the news isn’t yet priced into stocks. That means it is time to buy.
The world's second-wealthiest man explains to CNBC why workers in Europe and other parts of the developed world are at the "best" part of their career after they reach their 60s.
Tuesday, 18 Jun 2013 | 10:00 AM ETViolent protests broke out in eight Brazilian cities last night, with the worst violence occurring in Rio de Janeiro. Thousands of protesters threw Molotov cocktails and anything else they could find. The protests began over a 10-cent increase in bus and subway fares.
Tuesday, 18 Jun 2013 | 11:05 AM ETFBI Deputy Director Sean Joyce describes how NSA surveillance helped to detect and thwart a plot to bomb the NYSE.