About commercial bankers, savings institutions, broker-dealers, and issuers of asset-backed securities …
In March 2009, HSBC PLC strengthened its finances by making a preemptive rights offering of new equity. The bank quickly raised $18.5 billion dollars. Unlike Citibank, Bank of America, and other giant US banks, HSBC did not have to sell its soul to the government to stay in business. HSBC had the good fortune […]
In the article “Some banks have become too complex to manage”, I say that simplicity is the essence of good banking and describe the management structure of Citibank in 1956, when that institution was known for financial stability and prudent banking. I also suggest that Citicorp today no longer resembles Citibank of the 1950s and has […]
The world is growing aware that some banks have simply become too complex to manage. Many are now forcefully advancing this idea, including experts testifying before the British Parliament, the president of the Kansas City Federal Reserve Bank, Federal Deposit Insurance Corp. Chairwoman Sheila Bair at a Senate Banking Committee, and Bank of England […]
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