SNL always has a good news roundup.
Three large banks announced common stock offerings designed to raise money to get out from under the U.S. Treasury Department’s TARP.
BB&T Corp. launched a $1.5 billion common stock offering of $1.5 billion, proceeds of which, along with other funds, will be used to repay the preferred stock and [...]
The Public/Private Investment Program (PPIP) looks less likely to happen now that the government’s “stress test” results have been announced.� The big p.r. campaign to tell the world that the banks are all okey dokey has given the banks the ammo they need to argue that they do not need to sell assets.�� Whether the [...]
As everyone digs deeper we see how much of a joke the “stress tests” really were.� The Obama Administration put its rep on the line here.� The talk shows should be pretty good tomorrow morning.� I have life stuff to do today so I will lead you to Barry Ritholtz’s blog for better commentary than [...]
I talk to a lot of people that are exploring what the next big financial innovation will be for banks.� Many of these people were in structured finance, derivatives groups, securitization, etc, etc.� There are some really smart people working on very interesting concepts.��But�I feel it will be many years before the political, regulatory, and [...]
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