September 29, 2008 |
The tentative agreement Sunday on a $700-billion financial system rescue package would provide a badly needed psychological boost on Wall Street but wouldn't be an immediate panacea for the economy or housing market, experts predicted.
September 19, 2013 |
Michael Barr served as the U.S. Treasury Department's assistant secretary for financial institutions in 2009 and 2010. He oversaw the Obama administration's dealings with Congress in creating the Consumer Financial Protection Bureau. And he's still smarting from the experience. "The banks fought against the bureau tooth and nail," Barr told me. "They were in an all-out war with the administration over this. " But he makes no effort to hide his satisfaction with how things turned out. "The financial sector lost that fight," Barr said.
October 27, 1993 |
Federal thrift regulators on Tuesday banned former Lincoln Savings & Loan operator Charles H. Keating Jr. from the banking industry and ordered him to pay $36 million in restitution for two illegal dealings at the failed Irvine thrift. The action by the Office of Thrift Supervision ended three years of hearings and legal maneuverings involving Keating and other executives at Lincoln, which collapsed in April, 1989, and became one of the industry's costliest thrift failures.
March 18, 2012 |
If you want to do business with the biggest bank in the Western world, don't get on a plane to New York or London. The new place to go is sunny California. Wells Fargo & Co., with its headquarters in downtown San Francisco, has shot ahead of the East Coast institutions that have long been the behemoths of the financial industry, including JPMorgan Chase & Co. andCitigroup Inc. Although Wells Fargo still has fewer bank deposits than its closest competitor, its total stock market value is now about $178 billion - that's about $70 billion more than Citigroup and about $9 billion more than JPMorgan.
February 11, 1991 |
The banking industry has prepared a plan to contribute $10 billion over the next two years to avoid a taxpayer bailout of the troubled fund that insures savings deposits, industry officials said Sunday. The plan, which will be presented to federal regulators on Tuesday, calls for banks to purchase a special issue of bonds from the Federal Deposit Insurance Corp.
June 26, 1988 |
When David L. Butler's real estate development company faced collapse in 1982, he found a novel and lucrative way out: He swapped it for control of a Northern California savings and loan. The 29-year-old developer then turned Bell Savings & Loan into a personal piggy bank, paying himself millions of dollars and bankrolling questionable projects of friends and associates, according to court records.
August 29, 2013 |
This chart from the Federal Deposit Insurance Corp.'s latest report on the banking industry paints a picture worth more than a few thousand words about the recovery from the financial crisis. Outright bank failures peaked in 2009, when 140 banks collapsed, and 2010, when regulators closed 157. They then dropped sharply, with only 16 going under during the first half of this year. (Four more failed this month, bringing the total so far in 2013 to 20.) But damage from the crisis lingered much longer.
CALIFORNIA | LOCAL
March 24, 2014 |
SACRAMENTO - Gov. Jerry Brown has built a war chest of $19.7 million to fund his bid for an unprecedented fourth term, easily eclipsing the money raised by his challengers, according to new campaign reports filed with the state. Brown has raised nearly $3 million this year and spent nearly $95,000, his report shows. Top contributors include several labor unions, Netflix Inc. co-founder Reed Hastings, Napster co-founder Sean Parker and several descendants of the founders of the Gap Inc., the clothing company where Brown's wife, Anne Gust Brown, was once an executive.