JP Morgan to Acquire Washington Mutual Assets
September 25, 2008
Though it seems a final deal has yet to be finalized, it seems JP Morgan Chase will be suitor for Washington Mutual, or at least a portion of its operation according to multiple reports. Washington Mutual put itself up for auction last week, and a number of banks came forth to evaluate it, including Citigroup, HSBC, [...]
Read More >>Lehman’s Ship Sinking; Bank of America Acquiring Merrill Lynch
September 14, 2008
In what is one of the most fantastic days in modern financial history, Lehman looks to be headed into bankruptcy as potential suitors Barclays and Bank of America have walked away. Meanwhile, Bank of America has reached an agreement to acquire Merrill Lynch.
These two moves likely won’t be the last as attention will likely next [...]
Number of Problem Banks on FDIC List Grows
August 29, 2008
The FDIC issued a press release the other day discussing the number of banks on its “problems list”. According to the release, the number of problem banks grew from 90 at the end of the first quarter to 117. The amount of assets represented by these “problem banks” grew from $26B to $78B, with a [...]
Read More >>Biggest Banks Likely Beneficiaries
July 15, 2008
In commercial real estate, the best buildings tend to maintain the highest levels of occupancy, even in a downturn. As the market softens, tenants try to take advantage by moving into better buildings.
I suspect what we’re seeing right now in banking will be similar to what happens in commercial real estate. As the media continues [...]