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American Express Co. bought back the last of the government's stake by paying $340 million for warrants held by the Treasury Department's bailout program, reports Bloomberg News.
July 30 -
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It´s open season on regulatory restructuring: Bank regulators are gathering in the House Financial Services Committee this morning to share their views on the Obama administration´s plan to overhaul the financial system. BankThink is brining you live blogging coverage of the hearing, which will consist of two panels of witnesses. Treasury Secretary Timothy Geithner will take the stage first, alone. He´ll be followed by Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair; Comptroller of the Currency John Dugan, OTS Director John Bowman, and Joseph Smith, Jr., the North Carolina state banking commissioner, testifying together. Stay tuned.
July 24
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Trouble in the commercial real estate market is highlighting a disparity between large and small banks with ominous implications for the Obama administration´s approach to "too-big-to-fail." Though officials have insisted that banks would not want to be classified as "Tier 1" institutions due to the higher capital requirements and additional leverage restrictions they´d face, the CRE problem proves there are still advantages to being very big.
July 24 -
