Slow to catch up
OUT OF THE BARN: How helpful! After bank stocks crashed and burned in the month of March . . . . . . the rating agencies…
Wednesday Headlines: UBS set for $4 billion legal hit from Credit Suisse deal
Wall Street Journal: UBS Prepares for $4 Billion Legal Hit From Credit Suisse Deal CNBC.com: Dimon says it’s ‘unlikely’ that JPMorgan Chase will acquire another struggling…
Banks still lag in digital account-opening. That’s bad.
DIGITAL ACCOUNT-OPENING STILL A DISAPPOINTMENT: I thought improving the digital account-opening process was a problem that would be solved five years ago, but I was wrong, and…
Tuesday Headlines: Former SVB, Signature execs to face Senate panel
Wall Street Journal: Former SVB, Signature Bank Executives to Face Senate Panel Reuters: Ex-SVB CEO blames rate hikes, withdrawals for bank’s collapse New York Times: San…
How about some government action over the bank turmoil?
PULL OUT THE STOPS: I pretty much agree with all of this: “JPMORGAN’S DIMON CALLS FOR SEC PROBES INTO BETS AGAINST BANK STOCKS “JPMorgan Chase’s chief…
Monday Headlines: TPG to buy Angelo Gordon for $2.7 billion
Bloomberg: Too Small to Succeed Is the Problem Facing Regional Banks Financial Times: TPG agrees $2.7bn deal for debt manager Angelo Gordon CNBC.com: Fed Governor Jefferson…
Friday Headlines: FDIC to bill big banks $16 billion for SVB cleanup
Financial Times: FDIC to hit biggest US banks with $16bn bill for SVB clean-up Bloomberg: Yellen Says Only Good Outcome Is Congress Raising Debt Ceiling Bloomberg:…
Level of IPO filings reveal dour investor sentiment
WHAT THE LEVEL OF IPO ACTIVITY IS INDICATING: Equity market optimism and speculation accompany a high level of IPO activity, and the reverse is true. Just look…
Thursday Headlines: Blackstone in talks with regional banks on lending partnerships
Financial Times: Blackstone in talks with US regional banks over lending partnerships Bloomberg: BlackRock Overhauls Leadership of Credit, Private Asset Business New York Times: Carl Icahn’s…
Wednesday Headlines: N.Y. Fed’s Williams hints at rate hike pause
Reuters: New York Fed President John Williams leaves door open to rate hike pause Bloomberg: First Citizens Deposits Beat Estimates in Wake of SVB Deal Wall…