Howe Barnes researcher sees 'kitchen-sink' quarter, says TARP payoff will be 'much more complicated'
May 4, 2009 3:21 PM
Investment adviser from Franklin admits to $4.9 million fraud that included claims of TARP involvement
Apr 23, 2009 1:44 AM
The Times has the lowdown on the government's plan to share with us the results of the bank stress tests.
Goldman’s action has put pressure on other financial institutions to do the same or risk being judged in far worse shape by investors. The administration feared that details on healthier banks would inevitably leak out, leaving weaker banks exposed to speculation and damaging market rumors, possibly making any further bailouts more costly.
Apr 15, 2009 12:26 AM
The weekend ousting of Rick Wagoner as CEO of GM has prompted teeth gnashing from many corners of the business world about the role of government in business when government is a shareholder as well as a stakeholder. Some tasters: From Dennis Kneale on CNBC.com: "The bigger worry is this summary execution betrays a deep antipathy toward Big Business on the part of the Obama Administration. Lamentably, the president's henchmen may have imposed this coup mainly for reasons of image and example-setting. No wonder stocks are down big today." From Jeff Davis, bank analyst at Howe Barnes: "No doubt there will be widespread concern among business people regarding the government’s actions, but it should not be surprising as it is another indication of the costs of accepting government aid and capital. TARP preferred repayment likely will become more urgent for those banks that can afford to do so." New York investment banker Dan Ripp to the Wall Street Journal: "Why invest money in American industry when the government is capable of firing an experienced (if not, capable) executive and taking on the responsibilities of the firm itself?"
Mar 30, 2009 10:59 PM
The Obama administration on Monday raised some eyebrows with its plan to help get the small-business lending market going again. Central to the idea are higher loan guarantees and $15 billion of TARP money to add liquidity to the secondary market for SBA loans.
"There were two things I liked: the help for the securitization markets, and the President's call to make the banks report how much lending they are doing," said Keith Ashmus, a Cleveland-based attorney and chairman of the National Small Business Assn. "We are seeing business after business with a history of promptly paying their bills just get their credit lines canceled."Kent Hoover has a different take on just how much of an impact the plan might have.
Given the weak state of the economy, however, it is not clear how many small businesses want to borrow money at this time. A survey of small business owners conducted last month for Discover Financial Services found that 23 percent said they would be very likely to apply for an SBA loan if they became easier to get. Another 17 percent said it was somewhat likely they would apply for an SBA loan. The survey found, however, that 90 percent of small businesses had never applied for an SBA loan.
Mar 16, 2009 11:10 PM
Now at Howe Barnes, former FTN researcher says bad banks need to be flushed out more quickly
Mar 10, 2009 10:27 AM
After accepting $90 million from the Treasury in December, Iberiabank's board has decided the recent tweaks to the plan – which famously added restrictions on executive compensation – have placed the company (Ticker: IBKC) at "an unacceptable competitive disadvantage."
Feb 26, 2009 9:34 PM
Public-private partnership chasing after up to $100M of TARP money
Feb 26, 2009 12:37 PM
SunTrust goes back to the Treasury till.
“Given the increasingly uncertain economic outlook, we have concluded that further augmenting our capital at this point is a prudent step, especially if the current recession proves to be longer and more severe than previously expected,” Wells said in a news release.
Dec 10, 2008 7:20 AM
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS