While official results of the Obama administration’s stress test on the nation’s biggest financial institutions won’t be released until Thursday evening, the unofficial results were leaked this morning. What’s interesting is not only the list of 10 needy banks that will likely have to boost their capital, but also who’s not on it: MetLife, the nation’s...
Financial Services Industry Archive
May 2009
The first thing you ought to do when you fall off a horse, goes ancient wisdom, is get back on one and ride again. Nowhere is that piece of advice more relevant right now than in the financial services sector of the economy. A recent article in The New Yorker points out that in 2008, for the first time in sixteen years the finance and insurance sector contracted. The article continues: For...
Against all the odds, it looks like the original plan for government stress tests is actually working out. After causing somewhat of a fracas in the banking sector in April, many firms are reporting that for just now, they will survive the downturn without any further need to raise capital. The main aim of the stress tests — which are released Thursday after being delayed – was to...
If Bernard Madoff’s Ponzi scheme wasn’t enough to get some investors fired up over hedge fund regulation, then the Vice President’s “hedge fund hotel” scandal is sure to do it. Ponta Negra Capital: The Black Hole A hedge fund Ponzi scheme scandal is breaking in the blogosphere - and it goes right to the top of political power. A little while ago, blogger John...
Life insurers and their investors don’t seem bothered about the swine flu epidemic that’s invaded the U.S. And this could be the reason why: just the mere threat of swine flu, which has already caused almost 200 deaths in Mexico, might scare people into buying more life insurance or buying a policy if they don’t already have one. Dr. Steven Weisbart, who studies plagues,...
The situation didn’t look good for insurer Hartford Financial last evening after releasing first quarter losses that exceeded analysts’ estimates. Judging by what was said at two conference calls this morning it fared no better, and its shares were off more than 8 percent in midday trading. Hartford Financial CEO Ramani Ayer today told analysts and investors he wouldn’t...
Recessions, it is said, are great times to start new businesses. It seems that’s as true for hedge funds as it is for widget manufacturers or high-tech start-ups. With banking lay-offs and defections at an all-time high, money managers are seeking greener pastures by going it alone. In most cases, they are happy to take a significant decrease in pay for more autonomy. For while...
- Ailing AIG Gets Good News: Benmosche to Stay
- Banks Failing at Fastest Rate Since S&L Crisis
- Sun Life Doing Robust Business in Variable Annuities
- Zions Bancorporation: Shareholder Confidence Runs High, But The Worst Is Not Over Yet
- Will Sun Life President Boscia Pay a Call on His Former Company?
- Midsize Banks Have Worst Credit
- Is Manulife Stock 'Depressed?' Ask the Lady in the Bikini
- AIG: Help Wanted, But Will Anyone Apply?
- State Farm Is Warming Up to Florida
- Underrated: S&P, Moody's, Fitch ... and PIMCO
- Geithner's Not Going
- Barney Frank Aide Blasts Media Report Alleging Lack of Progress on Financial Reform
- Goldman Sachs, Shareholders Just Can't Get Along
- Geithner: Guilty Until Proven Innocent in AIG Debacle
- ECB President Cautions Interest Rate Hike, But Banks Are Ill-Prepared
- As Income Mobility Falls, American Dream Fades
- Lawmakers Push Bill to Monitor Fed Lending Programs
- Eugene Fama Drinks His Own Brand of Kool-Aid
- Roubini Warns of New Financial Crisis
- Ex-Wells Fargo Loan Officer Details Shady Practices
- Bank of America, JPMorgan Chase are too Late in Moving to Curb Overdraft Fees
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending
- State Farm CEO Rust: Effective But Not Greedy
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- As Income Mobility Falls, American Dream Fades
- Creative Destruction and the new Money Trust
- Geithner Deal With Wall Street Over AIG Swaps Cost Taxpayers $13 Billion
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending
- Senator Dodd Is Saving Lenders From Themselves
- Citigroup Hit With Huge Credit Loss
- FDIC Chief Sheila Bair to Treasury Brat Geithner: Nyah!
- Private Equity Firms About To Gear Up The Small Banking Sector
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The financial industry meltdown has been the worst since the great depression. BNET Financial provides daily industry trends and news coverage with insights for managers and executives about the major financial services companies in the banking and finance sector. In addition to detailed company profiles, we bring you industry analysis on new mergers, partnerships, financial products, rates, investments, capital, and a host of other critical factors of success in the finance business.