Tag Archives: banks

Buffett on banks, Europe, Google and more

Warren Buffett, chairman of Berkshire Hathaway, covered a lot of topics this morning in an interview with CNBC.1e5ec597e241f20c0e0f6a7067003053.jpg

He’s not worried about the global sell-off or Europe’s long-term prospects — it’s a big market and it’s not going away. Apple and Google are too risky for him.

America’s banks are in good shape and the United States did a good job of dealing with the financial crisis in 2008.

Fascinating stuff. Click here for the video.

Photo: In this May 5, 2012, photo, Warren Buffett, chairman and CEO of Berkshire Hathaway smiles on the exhibit floor where Berkshire products aer showcased, prior to the annual shareholders meeting in Omaha, Neb. (AP photo/ Nati Harnik)

When the banks whine, watch your wallet

Big banks have done lots moaning lately. Every day, it seems, bankers are boo-hooing
PAULSON+MONEY.jpgabout financial regulations cutting into their profits. The bigger the bank the louder the sobs.

To replace lost revenues banks are charging new fees and eliminating services that previously were free. Sometimes the new fees spark a hail-storm of protest and the banks back off. Like last year’s failed debit card fee.

But are the banks really as bad off as they want us to believe?

In a word, no.

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Banks are lending again — finally

After keeping the vault door closed tight for the last several years, banks are finally loaning money again.

PAULSON+MONEY.jpg“With most major banks done reporting fourth-quarter earnings, one trend is clear: For the first time in a while, loan growth is back,” according to a Motley Fool report.

JPMorgan Chase, Citigroup, Wells Fargo, US Bancorp, SunTrust and other banks all report an increase in loan totals.

“A lot of these banks had been paring back on loans for the better part of three years. Not only has that trend turned around, but it’s happened quickly,” Motley Fool says.

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Credit crunch may be easing

Several reports in the last few weeks indicate the credit crunch may be easing. Banks may be making loans again after too many months of sitting on their vaults.

For way too long creditworthy small businesses have had a difficult time getting the financing they need to grow and create jobs.

If reports of an easing credit crunch are true, it’s about time. Now, if we can convice the big business to start spending some of the record profits they’ve been hoarding, we might see a real dent in the jobless rate.

WSJ’s Marketbeat blog: Shocker!: Banks are starting to lend again

SBA extends veterans Patriot Express loan program

Banks continue to make it hard for entrepreneurs to borrow money, but here’s some good news — the U.S. Small Business Administration today announced the extension of a loan program created to help veterans start new businesses.

Patriot Express, a piliot program that has provided more than $560 million in loan guarantees to thousands of veterans, has been extended for three more years, SBA said.

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New credit card rules haven’t ended life as we know it

Despite the gloomy predictions of some, the new credit card regulations have not brought an end to civilization.

In fact, annual fees are less common and offers of super-low teaser rates have increased, according to an Associated Press report.

IPO+VISA.jpgMany experts believed banks would bring back annual fees to recapture revenue lost to the new regs and that teaser rates would disappear.

Of course, we’re only a few months into implementation of the new credit card rules. Banks could get greedy and the credit card atmosphere could take a turn for the worse.

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Bank bailout makes money for taxpayers

Bailing out banks is proving to be a money-maker for U.S. taxpayers. Whether or not you agree with the politics of the bailout, there’s no denying the Troubled Asset Relief Program has paid off for the U.S. Treasury.

Stimulus+Checks.jpgMost of the money has been repaid, although a handful of banks have yet to pay us back for keeping them alive.

“Of the $205 billion the Treasury doled out to 707 banks, $137 billion has been repaid. From the 61 banks that have fully repaid, the Treasury has earned a tidy $13 billion profit,” Forbes.com reports.

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