Oct. 16 (Bloomberg) -- Christopher Whalen, managing director at Institutional Risk Analytics, discusses the "disorderly" process and timing of Citigroup CEO Vikram Pandit stepping down. He speaks on Bloomberg Television's "In The Loop."
Profit margins at U.S. banks may get a boost from increasing deposits as customers show a preference for immediate access to their money and less appetite for risk with interest rates at a record low and the economy still seeking a bounce from recession.
Shrinking revenue at U.S. banks, led by Goldman Sachs Group Inc. and Citigroup Inc. , may continue to fall as the industry heads into what could be its slowest period of growth since the Great Depression.
The Federal Reserve’s policy of keeping interest rates persistently low, which has helped boost bank earnings over the last six quarters, is beginning to make it harder for the biggest U.S. lenders to make money.
Oct. 16 (Bloomberg) -- Citigroup CEO Vikram Pandit, who led the bank through its government rescue, stepped down and will be replaced by Michael Corbat. Institutional Risk Analytics Christopher Whalen speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)
Before Meredith Whitney predicted that municipal defaults in 2011 would total “hundreds of billions of dollars” in a Dec. 19 broadcast of CBS Corp.’s “60 Minutes,” several analysts made similar claims that the market would collapse.
Christopher Whalen, founder of Institutional Risk Analytics, says the Bank Holding Act "will be repealed." Whalen talks with Bloomberg's Ken Prewitt and Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."
A group of analysts, investors and economists is urging federal regulators to write rules by early next year governing how mortgage servicers handle foreclosures, loan modifications and other activities.