If so, his campaign may be over before it begins:
Among Merrill Lynch's many employees is Harold Ford Jr. It's unclear if Cuomo's letter—which doesn't request bonus information of any particular employee—would impact Ford directly. A spokesman for Ford said his salary is based on a contract and that he is, under that contract, eligible for bonuses. If Ford runs, the spokesman said he'll disclose more information about his finances.
Jan 12, 2010 8:03 AM
Discussing regional banks SunTrust, Huntington and Key, analyst Jeff Davis at FTN Equity Research says one quarter of profitability will be insufficient grounds for regulators to allow them to pay back the government's TARP funds. The feds looking after banks' health need to see consistently better asset quality.
The bottom line is that additional common raises are going to occur in the industry barring a very strong rebound in the economy in 2010.And, barring distressed-asset acquisition that lift earnings power, that means lower share prices. SEE ALSO: Analysts, TARP news combine to push down regionals
Dec 16, 2009 11:38 AM
Some bearish comments from UBS analyst Erika Penala — including a thought that First Horizon is among a group that needs to raise more capital — combined with some who's-not-next thinking about TARP repayments had investors selling regional banks Tuesday. First Horizon and the other big regionals in Middle Tennessee weren't immune.
Dec 15, 2009 3:12 PM
Rolfe Winkler says the size of the banks — their deposit base were more than twice as large relative to the economy — in trouble necessitated TARP. But now that broad economic stability is in sight, it's time for a different approach.
But the right way to fix this isn’t to erect some clumsy compensation apparatus to control pay on Wall Street (which won’t affect Goldman anyway because they don’t qualify as having received extraordinary assistance). The right way is to let them fail, as messy as that would be.
Dec 9, 2009 9:54 AM
Bank of America says it will repay all $45 billion of federal funds provided it under the umbrella of the Troubled Asset Relief Program. Mixed in among the raises of restricted stock and "common equivalent securities" is a requirement to raise money by slimming down.
In addition, Bank of America agreed to increase equity by $4 billion through asset sales to be approved by the Board of Governors of the Federal Reserve and contracted for by June 30, 2010. To the extent those asset sales are not completed by the end of 2010, the company agreed it would raise a commensurate amount of common equity.SEE ALSO: Break it up, boys
Dec 3, 2009 7:20 AM