BankThink

Goldman's Subdued Shareholder Meeting; Another SAC Update; Possible CFTC Chairman Successor

05/24/13

Editor's Note: Morning Scan will not publish on Monday, May 27, in observance of the Memorial Day holiday. Receiving Wide Coverage ...

Goldman's Reforms: The highlight of Goldman Sachs' "otherwise muted" shareholders meeting was news that the investment firm has implemented 39 initiatives designed to strengthen its business practices — and reputation — in the wake of the scandals following the financial crisis. These initiatives include "greater balance-sheet transparency" and "a more rigorous system for ensuring employees...

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Credit Unions Fear Collateral Damage from FATCA

05/23/13

With a litany of bipartisan reasons to oppose FATCA, ranging from privacy and sovereignty to U.S. economic competitiveness, it is startling that the legislation has advanced as far as it has.

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Fed Sends Mixed Message on QE; Dimon Vote Postscript and Another Fine for JPM

05/23/13

Receiving Wide Coverage ...

Fed's Mixed Message: The Federal Reserve sent a "garbled message" about the fate of its QE3 program on Wednesday. First, Chairman Ben Bernanke endorsed ongoing stimulus efforts while testifying at a congressional hearing, though he did reveal the central bank could begin to slow down bond-buying in its "next few meetings," labor market conditions permitting. Then, just hours later, April meeting minutes revealed some Fed officials were hoping to pare down the...

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Fed Must Keep Exec Pay Tethered to Shareholder Interests

05/23/13

The more that compensation designs depart from well-grounded pay-for-performance principles, including appropriate metrics and actual financial results, the less effective they are as an incentive

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GSEs, Private Mortgage Market Need Each Other

05/22/13

The most effective housing reform would let the GSEs do what they do best: act as a conduit for private capital to enter the residential lending market.

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Best of the Worst Subprime Loans Felled Fannie, Freddie

05/22/13

As much as David Fiderer and others try to defend the GSEs and the policies that drove them into insolvency, the taxpayers who bailed them out are unlikely to be fooled.

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Google Presents Biggest Threat to Banking

05/22/13

The tech company's new services represent a virtual slap in the face for the likes of banks and PayPal. If added to Google Glass, they potentially represent a knockout punch.

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Dimon Wins Chance to Solve All of JPM's Lingering Problems; Lloyds, RBS Plan to Close Capital Gap

05/22/13

Receiving Wide Coverage ...

Dimon's Big Day: The votes are in and it's Jamie Dimon by a landslide. After all the hoopla, the still chairman and CEO of JPMorgan Chase won the support of 68% of shareholders who rejected a proposal to strip him of the dual roles. For those keeping score, that means 32% voted in favor of separating the titles, a decrease from the 40% of shareholders who supported a similar proposal last year....

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Thrift's Criticism of Payday Lenders Is Sour Grapes

05/21/13

Advance America responds to One PacificCoast Bank.

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To End Big-Bank Subsidies, Fix the FDIC's 'Off' Switch

05/21/13

Until a mechanism to shut the biggest and baddest is well in place, the prospect of taxpayer bailout will distort financial markets and handicap competitors.

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