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News & Commentary
Content tagged with Compliance posted in September 2008
No More WaMu. What's Next?
News  |  9/26/2008
It looks like the bank that was Washington Mutual is no more in what is being called the largest U.S. bank failure. Now, through a transaction facilitated by the FDIC, JPMorgan Chase owns WaMu's banking operations. According to a release by the agency, "JPMorgan Chase acquired the assets, assumed the qualified financial contracts and made a payment of $1.9 billion. Claims by equity, subordinated and senior debt holders were not acquired." Due to the nature of the transaction, there was no cost i
Congress Can't Waste Any More Time Debating Bailout
News  |  9/24/2008
If the fear mongers in Congress take any longer to act on the bailout, we'll all be picking lettuce in Mexico! The Congress acted quickly to go to war in Iraq. Is there anyone in the Congress today who would say that was a smart move? Certainly not the kin of 4,170 dead military personnel. Now the Congress is spending a lot of time about a risk of $700 billion.
What, Me Worry? I've Seen It All Before and I'm Still Here To Blog About It
News  |  9/22/2008
I was born right after the Great Depression. I never had a trust fund. I paid my own way through college. I owned one business and had three jobs before I went to college. My first job after college ended in six months, as did the startup maritime shipping company I worked for. The U.S. Air Force rescued me by activating my commission. I was glad to go even at the crummy pay for a second lieutenant of $222 per month. Three years later I was honorably discharged as a Captain in the Air Force Rese
Prescient moment for Financial De-Regulator, Jim Leach
News  |  9/22/2008
Former congressman Jim Leach must feel vindicated by this morning's news in his recent comments to the BBC.
Welcome to Your New Competition: Goldman Sachs and Morgan Stanley
News  |  9/22/2008
Monday mornings are becoming increasingly interesting for people in the financial services industry -- you never know what kind of news you're going to wake up to.
An Unfortunate, Yet Historic Week
News  |  9/19/2008
TGIF! I think this is one week where we can all be thankful that it's Friday. The financial services industry has been the subject of a drama that started about two weeks ago with the government takeover of Fannie Mae and Freddie Mac. This week, Bank of America did an about face and re-entered the investment banking game by acquiring/saving Merrill Lynch. Barclays stepped in and gave a hand to bankrupt Lehman Brothers. Morgan Stanley is reported to be looking for a buyer and is considering Wacho
Fallout From Fannie/Freddie Continue From Financial Sector
News  |  9/10/2008
Fallout continues a day after the federal government's takeover of Fannie Mae and Freddie Mac as the two GSEs face delisting from the S&P 500 and the New York Stock Exchange. Following is a selection of comments from various industry sources on the Fannie/Freddie saga. The long-term viability of the GSEs is a big question mark for many experts. Also, to see more on the technology impact of the government takeover of the GSEs, please read

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