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By Marlene Y. Satter, AdvisorOne |
April 13, 2012
The ECB is more likely to resume buying up sovereign bonds than it is to make any more cheap long-term loans, according to a poll of economists.
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By Marlene Y. Satter, AdvisorOne |
April 11, 2012
A parliamentary committee in the Netherlands said that the country’s government made “large errors” when it bailed out ING Groep NV, ABN Amro Holding NV and Fortis in 2008 and 2009, and those errors put taxpayers on the hook for greater risk and cost.
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By Marlene Y. Satter, AdvisorOne |
March 20, 2012
Last week Greece was granted a massive bailout for the second time, after winning hard-fought concessions from its private debt holders and pushing through additional unpopular austerity measures. This week the IMF said it expected Greece to need additional funding or more debt restructuring—in effect, a third bailout.
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By Marlene Y. Satter, AdvisorOne |
March 14, 2012
The rise in the rate of claims may push criticism that cuts in government spending by Prime Minister David Cameron are too aggressive as he attempts to reduce Britain’s deficit. Consumer confidence is sagging, based in part on fears of job loss, and the country’s economy contracted in Q4 of...
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By Marlene Y. Satter, AdvisorOne |
March 9, 2012
Interbank rates, including Libor, are under investigation by a number of countries amid suspicion of bank misconduct. The U.S. has launched a criminal investigation and European authorities are looking into allegations that banks may have colluded to trade derivatives based on the rate.
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By Marlene Y. Satter |
February 2, 2012
Any concessions the European Central Bank may choose to make on Greece’s sovereign debt are likely to remain unknown until Athens comes to some sort of agreement with its private debt holders.
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By Marlene Y. Satter, AdvisorOne |
February 1, 2012
Former Royal Bank of Scotland Group CEO Fred Goodwin is now also a former knight of the realm. Goodwin, on the advice of the Honors Forfeiture Committee in Britain, was stripped of his knighthood.
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By Marlene Y. Satter, AdvisorOne |
January 31, 2012
It is unlikely that Robert Diamond and Stuart Gulliver, of Barclays and HSBC Holdings, respectively, will be forced to waive their bonuses. Their banks, along with Standard Chartered, unlike RBS, did not receive public funds.
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By Marlene Y. Satter, AdvisorOne |
January 30, 2012
The CEO of Royal Bank of Scotland Group has decided to waive his bonus of 963,000 pounds ($1.5 million), but it wasn’t an entirely altruistic gesture. He reached that decision after the Labour Party said it would ask Parliament to vote on the matter.
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By Marlene Y. Satter, AdvisorOne |
January 13, 2012
In the wake of cuts announced Thursday by Royal Bank of Scotland Group that it will close or sell its equities, mergers advisory and equity capital markets businesses, slashing 3,500 jobs, other European banks may follow suit.
