Articles tagged with: banks
Banks’ Licenses to Steal
It was in May of this year that Congress enacted into law sweeping reforms on banks’ credit card businesses. This popular piece of legislation put a stop to many egregious practices that loaded unfair fees and interest on unsuspecting credit card customers. One of the worst practices was charging customers with a myriad of fees that put them over their line of …
U.S. Airlines Won’t Need Bailout Money
The bad news is that the International Air Transport Association (IATA) issued a grim report on the financial state of the worlds airlines this week. The IATA stated that the world’s air carriers did much worse than anticipated in 2008, and that 2009 is projected to bring further losses, amounting to about $4.7 billion. The good news is that North …
Banks are Beyond the Help of Governments
As the sun begins to set across the “fruited plain”, here in America, the world’s capital markets, from Tokyo around the world to New York, have registered one of their worst performances on record. Just when we thought it might be safe to get back in the water, the Dow Jones Industrial Average plunged below 7,000, marking a mind-numbing fifty percent decline from its …
PNC Bank – A Good Bet for Pittsburgh
Last Friday PNC Bank announced the purchase of its ailing rival, National City Bank, for a bargain basement price of $5.6 billion. If approved by the regulators, the deal will be sweetened by $7.7 billion in public money to be used to bolster the bank’s capital position. The National City Bank purchase is by far the largest bank acquisition that PNC has undertaken, …
