Banking

Bank Layoffs & Earnings, Mortgage Guideline Updates

With the continued slowdown in the economy, the family made the decision to let my son go. After 16 years we had a certain amount of loyalty, but the harsh realities had set in. He wondered why it was him and not his younger sister, and I explained that she had edged him out on

Bank Earnings Up, Mortgage Rates Up, Starbucks Down

Usually I stop at Starbucks every morning, on the way from my bedroom to my bathroom. I was a little surprised that they put one of their outlets in my house last year, kicking my daughter out of her room, but I guess they figured that it made sense financially. As it turns out, California,

IndyMac Shut Down By Office of Thrift Supervision

In a press release 4 days ago, IndyMac said they were shutting down their retail and wholesale lending units but keeping their 33 branch banking network. The next day, a private equity firm purchased IndyMac’s retail lending operations for an undisclosed amount. Today, the Office of Thrift Supervision shut down IndyMac’s retail banking operations and

Private Equity Limits on Bank Investing To Be Lifted?

Yesterday during testimony to the House Financial Services Committee on Financial Regulation, Treasury Secretary Henry Paulson said there is a forthcoming plan to allow private equity firms and hedge funds to invest in banks. Right now, private investors cannot accumulate more than a 9.9% stake in banks without bumping into regulations, but this could rise