BankThink

Designating certain companies as systemically important accomplishes nothing more than putting them into a closer relationship with the government, making the designation itself a self-fulfilling prophecy.

Receiving Wide Coverage ... Spanish Bank Launches Big IPO: Spain's Banco Santander is launching an initial public offering of its Mexican unit in an effort to raise up to $4.2 billion as the Spanish economy continues to falter. The Madrid-based bank will sell as much as 24.9% of its aptly named Santander Mexico unit with shares costing between 29.00 and 33.50 pesos each. Santander is one of the few Spanish banks still able to issue debt,...

No one should be surprised that banks would suppress their posted rates in a funding crisis or that they might manipulate the BBA survey for gain. It was easy to see this coming.

Financial institutions with a long-term strategic interest in the credit card business should reap the benefits of the existing safe harbor and buy while it lasts. Those who don't should take advantage of the current environment and sell.

A small number of alternative financial services providers would be permitted to operate nationwide and on the Internet without adequate policing of their products for underserved consumers.