Bank of America Seeks To Pay Back Federal Aid (NYT)
Ken Lewis and Co are trying their hardest to convince everyone they’re responsible and lucid-minded enough to go this thing alone. Last year was bad but it’s water under the bridge. Seriously, they can do this. “We are a stronger company than we were even a few months ago,” Mr. Lewis, the chief executive, said in a statement. “We believe we have all the pieces in place to emerge from this current economic crisis as one of the leading financial services firms in the world.”
Deutsche Bank Spy Saga Turns A New Chapter (WSJ)
When Chairman Clemens Börsig said he had no idea about the bank spying on a “problem” shareholder…that may have been a lie.
Finra Board Said to Debate Releasing Internal Report on Madoff, Stanford (Bloomberg)
Which is sort of just silly, as they couldn’t possibly come off worse than the SEC, which is clearly the fear here, no?
FDIC May Borrow Funds From Banks (NYT)
Or maybe not? Here’s some nice imagery this morning: “Sheila Bair would take bamboo shoots under her nails before going to Tim Geithner and the Treasury for help,” Camden R. Fine, president of the Independent Community Bankers, told The Times. “She’d do just about anything before going there.”
AIG Banks That Hank Gets It Out Of The Tank (NYP)
All of a sudden they want a piece of his and Snowball’s shit.
Fed Rejects Geithner Request for Study of Governance, Structure (Bloomberg)
“It is not obvious at all why that is a Treasury responsibility or even appropriate why the Treasury would undertake that kind of study,” said Robert Eisenbeis. “The Fed was created by Congress and it is not part of the executive branch.”