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Why Did Canada Avoid The Worst Of The 2008 Financial Crisis?

Barry Ritholtz passes along this interesting article examining the reasons why Canada was able to avoid the worst effects of the 2008 financial crisis. It isn’t necessarily what you might expect, the Canadian and American banking systems share many similarities, for example, and there isn’t substantially more regulation of banking in Canada than there is […]

Banks Roll Out New Fees for 2010

Faced with new regulations limiting some especially unpopular practices, many banks will introduce different practices, also sure to be unpopular but not yet illegal, to replace them. The nation’s banks will be bombarding customers with new fees and products in 2010 as they try to replace more than $50 billion in revenue wiped out by […]

And What About the Chinese Banks?

While we’re on the subject of China and trade policy, I wonder why more attention hasn’t been paid to China’s failure to live up to all of the commitments it made when it was admitted to the WTO back in 2001? As I calculate things China has yet to meet the obligations it made in […]

Britain Ending Checks

England is phasing out the bank check. After more than three centuries, the humble check is set to become a historic relic after British banks voted to phase it out in favor of more modern payment methods. The board of the UK Payments Council, the body for setting payment strategy in Britain, agreed on Wednesday […]

Wells Fargo TARP Payback

Wells Fargo has decided to cash in some stock and repay its TARP money.  It’s the last major bank to do so.  Liz Moyer for Forbes: For months, Wells Fargo insisted it would repay its $25 billion worth of federal bailout funding in a way that wouldn’t dent existing shareholders. Its priorities seem to have […]

USAA iPhone Check Deposits

This is just awesome: The Internet has taken a lot of the paperwork out of banking, but there is no avoiding paper when someone gives you a check. Now one bank wants to let customers deposit checks immediately — through their phones. USAA, a privately held bank and insurance company, plans to update its iPhone […]

Some More Numbers on the Geithner Plan

Were you wondering if yesterday’s big rally was related to the Geithner plan? Well, it probably was. The Treasury helpfully provides an example, which I reproduce here: Step 1: If a bank has a pool of residential mortgages with $100 face value that it is seeking to divest, the bank would approach the FDIC. Step […]

A Conversation With a Banker

Over the period of the last nearly quarter century my wife and I have had season tickets for Chicago’s Lyric Opera. We’ve occupied the same seats the entire time. Over such a period of time you inevitably become acquainted with the other longtime subscribers sitting near you or, at least, my wife and I do […]