US banks will continue to fail at a steady rate over the next two years, and that's not necessarily a bad thing, former FDIC Chairman Bill Isaac told CNBC.
Only the strong survive in this Darwinian free market. And this bank’s a survivor.
Federal Deposit Insurance Corp. Chairman Sheila Bair is pushing back against key elements of the Obama administration's financial overhaul plan, saying they wouldn't survive in Congress and calling her own alternatives more viable.
Commercial lender CIT Group confirmed late Monday that it has secured a $3 billion bailout from its bondholders, saving the company from bankruptcy protection.
Chairwoman Bair ignored the lender’s call for help, and Cramer wants to know why.
CIT, the finance company struggling to avoid a Chapter 11 filing as soon as tomorrow, is seeking to line up between $2 to $3 billion in secured financing from private investors, CNBC has learned.
CIT Group's inability to get emergency government funding raises expectations that the commercial lender will file for bankruptcy.
The Federal Deposit Insurance Corporation has seized banks on 20 out of 28 Fridays this year, bringing the total to 52 bank failures in 2009, nearly double the amount in 2007 and 2008 combined.
With bad home mortgages on the back burner, the big threat to the economy is now believed to be troubled credit card, commercial real estate and commercial industrial debt.
The Treasury Department on Wednesday selected nine investment managers, including BlackRock and TCW Group, to operate funds that will buy toxic securities from troubled financial institutions.
The Federal Deposit Insurance Corporation plans to issue new rules that could make it slightly easier for private equity firms to buy failed banks, according to people familiar with the agency’s deliberations.
Both parties not only question the Fed’s performance but worry that the financial reforms will make the central bank even more politicized.
Ending the idea that large financial institutions are “too big to fail” is a top priority under the Obama administration’s regulatory reform proposal, said Sheila Bair, chairman of the Federal Deposit Insurance Corp.
President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
The long-running and personal feud between Mr. Dugan and Ms. Bair is now helping to shape President Obama ’s attempt to revamp financial regulation aimed at preventing the regulatory lapses that contributed to the economic crisis.
The Federal Deposit Insurance Corporation indefinitely postponed a central element of the Obama administration’s bank rescue plan on Wednesday, acknowledging that it could not persuade enough banks to sell off their bad assets.
Washington is asking some painful questions about how to prevent the next financial meltdown. Should it reinvent the Federal Deposit Insurance Corporation? Abolish the seemingly feckless overseer of savings and loans? Grant new powers to the Federal Reserve?
Should we worry about the agency’s ability to save the banks? Cramer tried to find out.
Big U.S. banks are “definitely out of the woods,” but smaller community banks are still facing difficulty, said Dick Bove, financial strategist of Rochdale Securities.
The head of the Securities and Exchange Commission is objecting to a plan being considered by the Obama administration to create a new financial watchdog to protect consumers.