Amid increased government ownership of Citibank, persistent rumors that BofA is next, and announcement of the Obama administration’s budget, there has been increasingly loud debate over bank nationalization. The media pundits and blogosphere are a cry with claims of pending socialism and the “Europeanizaton of America” – which, while provocative, aren’t necessarily true.
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In honor of the Oscars this evening, a post on banking and the movies. Last week the film The International opened, featuring Clive Owen and Naomi Watts. The film is about evil, murderous bankers – the bad bank in the movie resembles an International sinister organization out of a James Bond plot. As it turns [...]
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Somehow the issue of how to compensate the management of America’s crippled banks has becoming a more compelling topic than the more fundamental question of how to (or whether to) rescue those banks. Michael Kinsley jumps into the middle of this debate in today’s Washington Post with an article titled “Banking for Dummies”, poignantly [...]
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At Forte Financial Glenbrook Partners we’ve been gripped by the credit crisis, yet drowning in news and data. We suspect that you, too, would appreciate a guide to the gems of insight and plainspoken verbiage that explain, question, and illuminate these unprecedented times. So we’ve selected the best of the coverage – an admittedly subjective [...]
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We were intrigued by this week’s announcement that the FDIC had issued enforcement actions against two banks (and reached a settlement with a third bank) related to their sponsorship of credit card programs promoted by CompuCredit. These actions follow a lawsuit by the Federal Trade Commission against a subsidiary of CompuCredit alleging deceptive practices in [...]
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