28 Burst results for "Regional Banks"
Big Companies Got The Small Business PPP Loans
"Of the provisions designed to try to make main street survive this very tough cycle we're in was SBA funding through two vehicles one the payroll protection program the more popular one and the other disaster loans that were modified from being for hurricanes tornadoes quakes to be for the corona virus situation businesses find themselves in in both programs crashed and burned but now as Congress goes through the procedure of adopting the fourth corona virus stimulus law and new funding in there for hospitals for the important testing. We're not doing in. The United States see has corona virus. Or who doesn't and to give huge amounts of more funding to the payroll protection program. That ran out of money really fast. I need to tell you what's unbelievable. I mean this is a scandal extraordinarily from an industry. That just seems to not care about having a terrible public image. And that's the nation's large banks there are now multiple lawsuits plus unbelievable. You want to read. What's been going on? Unbelievable write ups and Barron's magazine and in the Financial Times of London about how the banks conspired with big publicly traded companies and large privately held ones to scarf up the initial three hundred forty nine billion dollars so that it would go to big companies instead of the small now. There are a couple of theories why the banks did this. Wine is that their most important relationships at a big bank. One of the four giant monster. Maga's or what are known as the super regional banks that together make up the twenty largest banks in the country and account for roughly eighty percent of banking in. The United States is that they were trying to preserve relationships with who really mattered to them which were publicly traded companies in large privately held. Wins another theory that will be tested. It's part of a number of lawsuits that have now been filed against chase and Wells Fargo and Bank of America and a number of other banks is that they had calculated under the pay more payroll protection program that they would get a lot more money into the bank with the five percent loan origination fee if they set up their systems electronically to only process the largest loans because the largest loans would generate. Since it was a flat percent fee they got it will generate the largest fees for the banks as these cases work through the courts. We'll see which was the real cause but unbelievable that banks helped publicly traded companies and large private ones work through loopholes in the hastily drawn payroll protection program to steal all the money from small businesses. That it was designed for and I hope that the public exposure of this horrific horrific behavior by the banks will lead them with the new money coming in that they will behave this time. And do what's right for America instead of what just pads their pockets. So we'll see how they behave coming forward. Part of the fourth stimulus. Bill is that nine traditional players are going to be able to make loans to small rural businesses and small businesses in urban and suburban areas of the country that were shot out by this apparent alleged banking conspiracy to cheat small main street businesses mom and pop businesses out of payroll protection program money. So I'M GONNA keep a focus on this because what's happened is inexcusable. In a national pandemic and the fall out from the economic problems and one company so worried about its public image. Did the right thing after doing the wrong thing shake shack is giving back the ten million it got pretending to be some tiny local small business and public pressure exposure of others that used loopholes to steal money from this program that was designed to go to small privately. Held businesses should follow shake shack. And Say Hey. This was our bad. Here's the money back. Lend it to businesses that the program was intended for and we'll see over the next week if businesses that cheated the system game the system. Do the right
The PPP Loan Disastrous Result
"I want to talk right now about something. That has just absolutely fallen. Apart and that is assistance to small businesses that many of which are just days or weeks away from shutting down permanently and it was the intent of Congress weeks ago to get relief to those small businesses and a lot has gone wrong. There's a new briefing right now on the SBA website at SBA dot Gov that for the direct lending program called the idol a economic injury disaster loans for Corona virus. They're not taking any applications reason. They ran out of money. They ran out of money pretty much the second day the program was available and started trying to ration money. That didn't work. So they're just flat out out of money for small businesses then the payroll program that launched with great hope that was going to help businesses from very very small ones up to businesses. That a lot of measurements would say mid size with five hundred employees that this program has been a complete fail because of the attitude of the banks how they've handled the program and this is atrocious. And when I referred the attitude of the banks I'm overwhelmingly referring to the problems that have existed with the large big four giant monster megabanks and then the next tier down with her known as super regional banks that listen to this stat was compiled by Marketwatch so ninety percent approximately of small businesses companies that employ less than twenty people nineteen or less and they overwhelmingly have been pushed away and rejected by the banks attempting to apply for the Payroll Protection Program. In fact based on what Market Watch has been able to figure out almost one hundred percent of the three hundred forty nine billion that is basically spoken four now awaiting an allocation of more money from Congress went to one per cent of small businesses. Those that employ between one hundred and five hundred employees. Now think about that. Ninety nine percent of businesses employ less than that ninety percent approximately employ nineteen people or less and they have been shut out overwhelmingly from this lending program by the giant monster megabanks and the super regionals that account for perhaps eighty percent of banking market share in the country why because the big businesses of the small the ones that employ one hundred five hundred people tend to have very solid relationships with these super regional banks and the four giant monster. Maga's they have a personal banker. People know who they are at the bank more or less and they came first in line and with many banks the only on line for this money. The small number of community banks around the country have tried heroically to get lending to businesses of less than one hundred people but they have not been able to get enough loans processed through the SBA system to get any significant share of the money when Congress eventually reaches a deal on this. The banks must be required as part of additional funding to no longer discriminate against businesses based on their size. The banks. Just don't WanNa be bothered with a small restaurant a small retail store a small business of any kind because it's just not their big. Well let me tell you something. Congress needs to require that it's their thing and get this relief to smaller small businesses. And not just the biggest of the category that was considered to be small business. A hundred to five hundred people in addition you should know that now nine traditional nine banks are in this process. Pay Pal is one Cabbages another KABC. Be Number of small business lenders. That are not banks are either already in the program or soon will be and they are not turning their noses up at you if you have three employees or fourteen. Employees are twenty five employees and shame. Shame shame on the banks that we saved during the banking scandals that led to the financial crisis in the great recession that we gave them two and a half trillion dollars and basically nobody went to prison for all the criminal behavior and now they are turning their backs on main street in the United States. This is hideous and unacceptable behavior by the
Banks to defer loans for virus-hit small businesses
"Tucker with coronavirus arresting economic activity small businesses could bear the brunt of the fallout with limited cash flow to cover debt expenses and that may cause loan losses for the smaller regional banks Bloomberg intelligence's tracking loan amounts of one hundred thousand to one million dollars from regulatory filings to assess exposure to small business lending it appears the regional banks higher capital levels will allow them to sustain an extraordinary amount of loan losses while still maintaining capital ratios above the minimum requirements but there may be exceptions in this Bloomberg analysis Zions Bancorp based in Salt Lake City may have the highest capital drawdown because the greater exposure to small businesses and the energy sector that's followed by Huntington citizens and Comerica the analysis also shows fifth third and regions holding up the best and that's the bluebirds small business
New York - Cuomo Announces Tri-State Restaurant and Bar Shutdown Starting Monday Night
"Trump today announcing guidelines as Americans trying to cope with the burgeoning corona virus we'd much rather be ahead of the curve then behind it and that's what we are there for my administration is recommending that all Americans including the young and healthy work to engage in schooling from home when possible avoid gathering in groups of more than ten people avoid discretionary travel and avoid eating and drinking in bars restaurants and public food courts and today the governors of New York New Jersey and Connecticut agreed to a regional ban on groups of more than fifty as opposed to the recommendation you just heard from the president that people not gather in groups larger than ten the regional bank closes all restaurants and bars throughout all three states except for take out and delivery that happens at eight o'clock tonight governor Cuomo says a tri state band is a central and we're working on getting that for you right now I don't want to have one set of rules here and a different set of rules in New Jersey because then I closed down the bars you'll get in the car you'll drive to New Jersey makes no sense New York the latest coronavirus tally stands at nine hundred fifty about half of those in New York City were just now hearing from the mayor
The Value of Employee Engagement (part 4) with Nathan Rogge
"I'm delighted to welcome. Nathan Ruggie the President and CEO of the Bank of Southern California where he's worked since two thousand six last year Nathan was recognized as a most admired. Ceo by the San Diego Business Journal and under his leadership. The Bank was honored as one of the city's best places to work. Welcome Nathan and thanks for being here today. Tell us a little bit about the Bank of Southern California and your work culture. They're a little background on. The bank was started under a different name out in a rural portion of San Diego in really tiny little organization. I always like to tell people that that bank got in trouble with the regulators before it was sexy to get in trouble with the regulators before the recession. And we've really spent a lot of time taking that little rural banking transforming it into what we aspire to be which is a regional. Bank focused on small and medium-sized businesses in southern California. You've got a lot of competition. What what distinguishes you from similar banks in the area. That's a great point. In fact southern California fifth sixth largest economy in the world there are literally an infinite amount of financial institutions and or competition out. There we do. I think that by being extremely focused on that small to medium size business client a client. Who really needs a relationship with the bank and is is an important aspect in a we focus on really experienced bankers in the market that we serve. And maybe our little knitter way. We hope to differentiate ourselves as we'd like to move fast incompetently so we spent a lot of time on that. That's that's who we are because there are there are like I said an infinite amount of choices for clients. Well I I love those. Two distinguishing characteristics relational agile that as a small businessman myself. That would be wonderful. Because I don't have that in my regionally so I haven't found yet I know you're very aspirational. And where you WANNA go. Every time I come out and we measure engagement you have more employees. Because you've acquired it seems like additional banks in all of this growth. You're involved with Nathan. Why pause if you will and have this focus on employee engagement and measure it. Let's go back to that comment about growth. You know the tiny little bank that I started with was about thirty. Six million dollars in total assets that means loans and the offsetting deposits. We have if you look backwards. We've doubled the size of the bank about every three years now. Obviously going from thirty six million to seventy two million dollars is a lot easier feet than going from five hundred million to a billion but the concept is still the same witches repeating that process of providing an amazing experience for your clients and doing it with what we believe. Important component isn't a highly engaged employees group. Now when you're growing like that you do have this interesting dynamic. Which is you're looking organically to grow and we do that very well but then we do an acquisition about one everyone to two years and so that means bringing on an entire group of people who didn't necessarily sign up to work for you. Yeah and so. Come in with highly engaged workforce to start out and also be able to explain to those new employees that are coming on board who we are what we aspire to be as very important and so the engagement component of this for those employees is really one of the biggest concerns and. I also think the one of the reasons why we're so successful a lot of people that leaders that feel that they're focused on employee. Engagement are actually very focused on employee satisfaction. And we see. The two is completely different. Employee satisfaction being an attitude employee. Engagement being a behavior. But how do you see as a leader? Is this just about making employees happy or is this something else might perception? And maybe this is a little selfish is going back to those clients that I want to serve. In the hyper competitive environment is the only way to provide an amazing customer. Experience is to do it with empowered and engaged employees. And so to your point. This isn't so much about satisfaction. I mean I hope that everyone is is satisfied but more importantly I'm really concerned about. Do the understand how they fit into the organization. Y. What they do every day is so important to the overall cause of providing a great customer experience to those small medium sized businesses. And you know it's interesting Nathan because the the research bears that out one study correlated employee engagement at point eight five with customer engagement. That is it's almost a one to one relationship. If if you could increase employee engagement by ten percent than would make sense. The customer engagement would go up by eight and a half percent but the customer experience is what develops that emotional connection with a company. We talk about creating emotional velcro between an employee and employer. But you're also in the business of creating emotional velcro between the bank and the customer. I think the challenge in banking or finance and a lot of businesses might have this his. Most people don't wake up in the morning and decide that they want. It changed their bank. In fact I can think of about a million things I'd rather do rather than change. My Bank is on the business owner. So once you're at that spot one year trying to figure out who do I want to have that relationship on go forward and how do I make sure that I'm working with the right company and I think those engaged employees show that they are the right people to be working with? I also think on the other hand that once you come to bank with us there is very little chance that you're going to leave now once again. I can't one hundred percent guarantee that on a transactional I don't know real estate loans but when it comes to the true relationship of where my deposits are maybe where my line of credit is things where I need to be working with the bank on a daily basis. That's where we think we shine and that's by the way where we think. Those engaged employees are so important so when when we measure engagement like we do with you. Year over year there's always a group of employees that fall into the category of either actively disengaged or somewhat disengaged what is the danger of those employees in your mind. Why is it so important to know how many they are and where they are? I think identification does help to the the recognition of understanding that you do have these people in the organization. And and at least in generalities where they're located. My particular concern is when they are a customer facing. Yeah just understanding that that will translate into a poor customer experience. And that's GonNa Affect our bottom line. I think one of the other challenges particularly early on was understanding that some of those most disengaged employees were also some key positions and had been at the bank for a while and I think that was definitely an eye opener and to your point. That's a challenge. You know these aren't people that you just walk in you know it's not a good fit. Have a nice day. Yes you know systemic to the organization so obviously very happy with where our numbers have gone. But I think It's that original identification or acknowledgment. Hey we all have a problem. We think we've got it figured out. There's a lot of work to be done and I think that's paid off. I understanding that it exists and then getting it out in the open talking to the staff on a very regular basis about how important engagement is to us in how we view it and then letting them see how particularly how the surveys are used to their benefit.
Is college worth it?
"Want to talk to you about about something that came out recently. That is a very important counterpoint. To something I shared with you in November in November. I told you about how people are so down on college and saying that college is not worth it. That people should avoid going to college has been like a school of thought. Lately those bad pun and and so I gave stats how much more someone earns over a working lifetime with a four year college degree versus not having a four year college degree and this wasn't just comparing high school to a four year college degree. This was any level of education less than a four year college degree in the numbers. I share with you. Were gigantically different and I want to give a new counterpoint. That is really important to think about. And it was a study done in by the Federal Reserve Bank of Saint Louis. You're not familiar. The Federal Reserve has branch banks around the country and they each have their their own staff so economists and their job is to see how economic conditions are in their area the country but then they'll do some of the various regional banks will do studies like this one on college and I've got a link at car dot com if you want some real meat on these bones about it but the thing was in the study. It didn't find that the case for college was a slam dunk onc if you borrowed a lot of money for college that when you look down the road people borrowed very heavily to go to college. End Up with a pretty measly net worth down the road because so much money that they make ends up up going to serve a student loan debt the interest and the principle of those loans. So what it convinces does me of even more. Is that going to the IT college and having to borrow huge amounts of money I need to do. It is not worth it that you know. If you're a long-time listener to me. You know that I went partially through undergraduate school on my own working full-time and going to college at night and then completely through graduate school doing that and keeping the costs down was essential to my education and I didn't go go to top tier schools and something that that snobs. We'll talk about and that's Oh. She went to a directional college or he went to a Directional College. Well I went to a Directional College Grad school and I got a great education that's when it has a distributor Western eastern southern northern South West area. Whatever with Blah Blah Blah state? Whatever so no that what really ultimately matters is the education you get and that when you graduate you're not burdened with the weight of all those student loans? I have not changed my opinion at all about the value of college education. But I stick to what I've said through the years and that is if you graduate from college with less than the amount of student loan debt compared to what you'll learn and the first year your honor job you're GonNa be fine head coach. Is that good. Let's say you anticipate your first year on a job. You'RE GONNA make thirty thousand dollars after you finish college or forty thousand or whatever based on your course of study or fifty. Whatever it is that that is is the ceiling on how much you borrow for school because when people get into trouble is when the amount of student loan debt they have is far in excess us of typical annual earnings for job? Because you can handle fine whittling down and paying off in a very reasonable period period years an amount equal to what you might earn when you first get out of school but you start getting double triple or more than that. Then you got big problems.
Ex-Fed official says central bank should stop enabling Trump
"President trump who last week suggested fed chairman drawn Powell could be an enemy of the U. S. now saying that the central bank loves the troubles that US manufacturers are facing president's tweet today appears to be his latest effort to pressure the nation's central bank to lower interest rates more quickly a former top fed official pushing back though on trump's repeated attacks bill Dudley the former president of the fed's New York regional bank argues the fed should stop enabling trumps trade war with China
Why You Should Cyber-Stalk Your Prospects
"There. I'm eric. Kevin join us on our journey to building a one hundred million dollar company. This is Eric Olson your host today. We're gonna talk about stocking in a good way though. So I want you to think about how you go about getting prospects. For us. We get a decent amount of inbound leads from our website social media SEO things like that. But in addition to that, we want to go after high value prospects. So it's really just not good enough to sit back and wait for the phone to ring for an Email to come in in order to grow this agency to where we want to get it to we need to proactively go out and find new clients that we wanna work with. So the first thing need to do is really think about what kind of client you want. Usually for us right now, the clients that come to us are a little bit on the smaller side there may be regional players. But for the most part they have one or two offices and they're looking to grow. Now. Ideally, the class would come to us are much bigger now in order to get those bigger clients come to us, we I have to acquire clients of this size and magnitude so that we can prove that we can work with them. We currently work with the Bank right now. But we don't do a lot for them. We really just host them, and we take care of their website. We wanna do more with them and we've actually approached him about it. But they just don't know enough about digital marketing to pull the trigger. So we came up with the strategy where we wanted to actually go out and get a regional Bank. We looked at all the banks here in Hampton roads, that's Norfolk Virginia beach. Newport, News that area, and we came up with the list of about a dozen different banks, and they're different sizes. Some of them are actually headquartered here some are headquartered outside of the area. And we came up with the various shortlist of two to three banks that we want to go after we split them up. I took one Kevin took another j tech another. And we started to do research. We found everything that we could about them and who was in charge of their marketing. Well, one of the banks is a fairly large regional Bank. They have branches on the peninsula and also on the south side. And they were mine I was the one that was going to pursue them. And I signed or stocked this shit out of them. So what I wanted to tell you is in the end it paid off. But in order to get there. I connected with this person on Lincoln. He accepted my request, and I sent him to direct messages. I then connected with him on Twitter, he accepted, and he followed me back, and I sent him to direct messages on Twitter. I also called him twice left to voicemails. And I literally told him. Hey, this is Eric your Stocker, and I also sent an Email so I pursued him, and I didn't give up and I contacted him through multiple different channels multiple different times and let him know very explicitly that the reason I was calling because I wanted his account. So what I didn't wanna do is be timid about it and just kind of tiptoe around it and send him white papers. And just kind of hint that this is the kind of work that we do if I'm going to. Ashley prospect and pursue someone. I wanna make very clear the reason that pursue them. So long story short. I actually had the meeting esta he invited me to his office. Very nice guy. And we sat down for an hour. And I was really a little bit intimidated. I thought maybe I was making a mistake. I had looked at all their digital marketing beforehand, and they were in really good shape. So the first thing that I looked at it. I thought wow, I don't really know what I'm going to pitch here, and I slept on it. And in the morning, I looked at it again. And I realized that they had a gap in their social media. So although they have tens of thousands of followers every single time. They post on social media. They get very low engagement less than ten every single time out of twenty thousand or more. It's just not acceptable. And what I realize is they were just checking the box when it came to social media. So what I ended up pitching. Ng was social media, and in particular video content. Now, what's interesting is. I wrote that down in a review document that I printed brought with me. And when I first got there, we talked about some of the challenges that he was having and guess what social media lack of Ideo and lack of storytelling is what he cited as a problem and correlated exactly with what I had predicted. So it turned out to be a great meeting.
"regional banks" Discussed on Bloomberg Radio New York
"Even though we've edged into the green it doesn't seem like a lot of people are interested in heavily trading yet today doesn't look that way. Greg, but I'll tell you the market's showing more strength than just look at the S and P five hundred might suggest you've got seven of the eleven main industry groups in the index higher, and none of the ones that are down have fallen even a tenth of a percent. And then in terms of individual stocks. You're looking at five up in the S and P five hundred for every two that are down so some broad based gains here and the biggest belongs to fast and all that stock up four point eight percent. The industrial distributors fourth quarter revenue beat analysts average estimate in a Bloomberg survey now fast. Well, said US Taras wart in issue for its results last year, though, they will be this year. Mt. Bank has risen four and a half percent. The regional banks fourth-quarter earnings and revenue estimates, and it's he benefited from a wider gap between loan and deposit rates also known as net interest margin. And you look at the steepest drop in the S and P five hundred you see Western Digital that stock down five percent that this Dr makers poised to deliver ugly forecasts for its fiscal third quarter. According to Wells Fargo, the firm cuts twelve months share price has met by ten dollars to sixty five dollars. Western Digital's results are due next Thursday and Morgan Stanley that stock lower as well down four point four percent quarterly revenue trailed the average estimate for the first time in more than three years bond trading room revenue fell thirty percent a steeper drop than its peers reported earlier this week, Greg. Bloomberg's Dave Wilson with this hour's market drivers report now, politics policy, power and law. Well, thank you. Greg. The US has entered day twenty seven of the government shutdown and President Trump speaking earlier at the Pentagon did not offer any conciliatory language to try to end the shutdown. He called Democrats radical and demanded more border security once again for more on this. We're joined now by Congressman Tom Reed, Republican of New York who was at the White House yesterday with some lawmakers are Democrats and Republicans to talk to the president about all of this and congressman read you are the co of something called the problem solvers caucus. We have a problem in Washington. Are you any closer to solving it? I hope so. A hopefully demonstrated that there are democrat Republican members who recognize that this situation has to be addressed both on the border fixing the border, which we all know he's been in need of solutions for decades. And then at the same time this shutdown is not good for anyone. It's hurting fellow Americans as well as the border security is causing fellow Americans. They have their public safety injured. Tell us what you talk to the president about and what he said about the shutdown ending. Well, you know, I think what we did is we we showed that if we talk we can actually find some common ground. And there was a good constructive meeting about listen to each other's point of view. And that is what the problem is right now, it's it's there's no adults here that are sitting and talking and trying to work out their differences and Democrats are going to have to engage Republicans are gonna have to engage, and hopefully we demonstrate that yesterday that we need to go down this path work this out. Did you detect any signs of compromise from the president in his come in your conversation with him? I think the president's made publicly clear on numerous times that you know, what he's focused on border security, and that's going to include a structure that is going to include a barrier. If you would and we if we move away from the language that's used to be dividing us today, politically a wall and actually focus on what do we mean when we say border security, I think this can be resolved in in short order. We may be able to solve other issues like immigration status and things like that. That are putting millions of people in in in a tough situation that we all know what the solutions are in regards to putting this together as part of a deal. They get this taken care of once and for all. So then the president is still not willing to compromise on a structure or a wall. Which is what the Democrats, and particularly speaker Nancy Pelosi say they will not compromise on. So where will the compromise come from? Well, and that's why I was very pleased to see Steny Hoyer of. A second man in the Democratic Party in the house yesterday talk about recognizing that in certain areas, a structure a border area. It makes sense and it needs to be part of border security going forward. You see what's going on in San Diego? And I took that as a hopeful sign that the common sense position that many of us know on border security and needs to be implemented will include such things as a as a structure, but it's going to be more than that. And that is where the heart of this compromise reached on border security. Okay. So you see the outline of a compromise. You see a deal out there? What is holding this up? I think it's all politics of the extremes. It's the hard left I in control right now, and and the house of representatives in my opinion, and and there's no leaders that are seven four to say, you know, what we appreciate the point of view that you're raising, but we do have to govern. And we still have to function as a country, and what we see also in heart, right? Is you know, we gotta have a wall coast to coast. But I think everyone is backing off of that and recognizing that is not what we're talking longer when we talk about border security. I just keep America safe. Did you learn of any outer limit that the president has for how long the shutdown will go on before he decides to give in in some respect. I think the most critical steps going forward and anytime you reach an impasse in any type of negotiation. How do you both take a joint step together? So that one side isn't embarrassed at the cost of the other. And that's where the political calculations are are different Bennett typical business. But if you look at it from a business point of view, I think the deal making the next step is how do we both join hands and move forward. And I think if you just embraced commonsense solution so border security a with maybe some other things like the dreamers like the temporary protected status folks that have been here for twenty years and dealing with them. I think there's an opportunity to get something done here by most common sense reasonable members of congress is your leadership in our last thirty seconds here. Ready to do a deal on the DACA on the dreamers. Yeah. I I won't speak for leadership other than to say, I think we are all committed in the house, and especially on the Republican side. Let's get something done. And if it includes those that we can consider to be part of those efforts that to vote for two hundred and eighteen votes in the house to move it to the Senate and get this done and over with Congressman Tom Reed. Republican of New York. Thanks for your time today coming up on Bloomberg politics, policy, power and law. The Trump administration is considering several candidates to lead the World Bank has it seeks to maintain their tradition of placing an American at the helm of the development lender. But before we get to that. Let's get back to check on the latest world and national headlines with our own Bob mode people. Thank you house speaker Nancy Pelosi. He's declining to say what she'll do if President Donald Trump insists on delivering a state of the union address during the partial government shutdown majority leader Steny Hoyer, tells Bloomberg the president should respond to security concerns. Pelosi has raised not simply insists he's. Going to deliver the address also reiterated democratic demands that Trump allow funding of the government and stop insisting it's his way or no way for border security. Let's open up. Then.
"regional banks" Discussed on Bloomberg Radio New York
"The municipality, bad loans and provinces bad loans, and they have to shutdown some of these small regional banks in northeast China, which basically zombie institution. So there's gonna be a lot of pressure on the Chinese economy next year. They hope they can get six percent. But it could fall below six percent for the first time ever built roads. You have the Goshi aided during your career with dictators strong men as well as corporate executives and government officials and central Bank regulators who were the key people in China right now. Well, obviously you start off with the president and leader Xi Jinping. His vice president is very strong because he is an expert on economics one. She, sean. He's also was a trouble shooter for previous governments. He's the one who cleaned up SARS and Beijing, he's the one who cleaned up the problems in Guangdong province. He's a a disciple mentally of Jumanji the great premiere of China who cleaned up their economy and got him into the WTO. But also the head of the People's Bank of China's very important. We have a technician in there, and I was privileged enough to to to spend an hour and a half alone with them at lunch. Gung his name is he actually taught at the university Indiana for. Eight years. So his English is good as ours. And the previous governor of the People's Bank of China's Zhou Xiaochuan who's a leading reformer who still allow he does not have the official position in the People's Bank of China. He has title president emeritus Aaron and he's advising both the president Xi Jinping in once you Sean, and then there's one other person who has a title vice-premier of the economy, and that's someone named who's new that in the sense that we didn't see him before. And that's his name is Lee hu. And he's the one who's talking with my Mnuchin on the telephone the big problem. Among others is the Chinese have with us. They don't know who's on first second and third in negotiation. It's like tinkers to have is a chance. Lighthizer the next minute Mnuchin confused. Well, they're they're confused about who's on first. But also, you know, sort of the distinction between the trade tensions and intellectual property is confusing to me because I don't totally understand how intertwined those are. Well, I think for the United States is very important because the Chinese announced their program of two thousand twenty five which was their goal to be deleting innovators in technology in the world. And of course, that gets into five G and all of these things and the United States silicone valley. So ever we've been the leaders in technology. And so the feeling is that there's a real challenge does also there's also feeling here in the United States and in Europe that the Chinese have gone out of their way to gain technology through several different ways one. When in American a European company wants to operates up in China. China. On a joint venture. They make them turn over their intellectual property. The other thing is many people in the US and Europe feel the Chinese have been stealing technology from us. So this question of intellectual property is going to be tougher to solve the trade issue because let's face it. The economy's slowing down in China. Economy's slowing down here. And so I think it's on both, you know, both governments. I think when it come to deal. All right. We're going to continue the conversation. We've got much more with Bill Rhodes he is the author of banker to the world leadership lessons from the frontlines of global finance. But right now, let's go to our ninety nine one studios in Washington DC where Nathan Hager has world and national headlines. Nathan and the White House says US troops are already starting to come home..
"regional banks" Discussed on Biz Talk Radio
"Right. So I was just looking at a few things the financials back at new yearly lows regional banks. Same. I I might as well. Even just. Industrials right there metals and mining right? They're materials, right? Materials not as bad, but still look like Kakuma. What else? Let's look at the housing housing has rallied into the fifty day in a cell and often it was already down pretty big think housing's down like twenty five thirty percent from the highs. The things that have been held up as the healthcare XL V and a bunch of those things back below the fifty day. But definitely a port in a storm, especially the drug stocks up Merck. Johnson and Johnson the FIS of these things are holding up like rocks. But member we told you about them. That's the parking of money coming out of risk same for like Coca Cola and stuff like that. And then what I knew new lows yesterday were like twelve hundred and then we reversed so was better today only five hundred, but it's still not good because we finish near the lows, and I can tell you one down day we'll be to twelve to fifteen hundred on the new low easily. And as I go through the new high list. You ready? Utility utility real estate utility utility. Real estate. Utility utility utility utility utility real estate real estate. Utility water utility utility. Ooh, that's Hawaiian electric whenever I think of Hawaii. I go crazy. Utility utility real estate utility utility real estate. That's your new highlights. I'm look at the if there's anything out of that. That's not just anything. I can't find one stock. Not elect. And as I look at the new low list. A who's who was stuff? G E BankAmerica CitiGroup Morgan Stanley snap on snap Inc. That's that's Snapchat. Doubt the five and change those morons. They lied when they came public big lots, by the way was down nine bucks today to thirty one on earnings Lloyds banking, the European banks Yok general mills one of the consumer Staples. That's not working steel, stocks AK steel, Barclays European Bank US steel, another steel company. Oh, yeah. How did those tariffs on steel go for the steel stocks Credit Suisse Deutsche Bank? I N G and acts of both insurance companies. Huntsman chemicals, steel dynamics steal each trade trade. Lie Adele, basil chemicals, Goldman Sachs. Yikes. Michael Kors UBS. That's more Europe. Fedex. New yearly lows FedEx. Yeah. The economy strong Tiffany's. Yeah. The economy strong AllState. Yet adviser Bush because people are drinking less and less bear. And smoking more and more weed. You don't believe me? Try walking the streets of Aspen. Again. I wish I had better news. In typical fashion when we get into bear markets. We get bypass because we know how to handle them. And as we always tell you we have no clue how long it lasts or how far it goes. But the big picture is the bear is reasserting itself. The bearish is reasserting itself. And there's really not a lot of bias to it. Fewer and fewer names are holding up. More and more names of breaking down. And again, I must tell you a break of the recent three times they hit the lows, we will have another leg down. The only decent news. I can give you. Is the yachts bags at the central Bank. Order yapping about upping the rates, and there's no doubt my mind. The next thing they'll probably do after December's lower rates because they are targeting markets. But I said possible good news because you know, what I've always wondered are we ever going to get to the point with a market sticks. The middle finger out at these extended professors that all they know every answer to every problem is more easy money that does nothing more than kick. The can down the road and enable more at more deficits and more leverage that eventually no matter what are going to come to. A fork in the road. They tried yesterday and today with several pronouncements and markets still stuck it's tongue out. At them. We are in. Well, I'd rather the fed be abolished. How's that they shouldn't even be around? They shouldn't even have a job. They should go back to their little schools. Teach people easy money. I've been asked. This Muller thing is this causing anything trade thing is it causing anything. It doesn't help. But you don't go to bear markets because news like that you go to bear markets because the markets. A peak in earnings and economies.
"regional banks" Discussed on The Dave Ramsey Show
"And dude, you're on your way, you I can't wait to talk to the twenty seven year old version of you in ten years. You are going places, man. Very cool. Thanks for calling in. That call. There was Feis there by God. Just for you that we're wondering if this nation had a future. You were wondering if we were all going to die because all young people are idiots you ever wondering about that. And that call was placed there by God just to say, no, we're not all going to die. They're not all eighty. It's there are some awesome Mikhail's out there. And there's more of them than there are the others. Every generation has had idiots every generation baby boomers my generation we had the corner on idiot for a while. I mean, yeah, we invented some stuff that this society is still paying for. Yeah. We learn new ways to send. It was. Unbelievable. We invented new stuff every generation has it's every generation's guts Mikhail's, and you're going to be okay. We're gonna be okay. Talked to a seventeen year old like that. She just go. We're going to be. All right. John is with us in Atlanta. Hey, john. How are you? I Dave thanks for taking my call. My wife, and I are both hollers of your plan. We're in baby steps six. Now. I worked for a regional Bank. That is I'm actually a project manager for them. We're not one of the big guys welder be vase. We're in a handful of states and the question that I've got so personally in my own life. I'm very anti-debt. Although there's a lot of stuff that goes into the banking business model, obviously a lot of it involves Belling debt to sure so the question that I have is if I want to achieve in my career, which I do I love the company, I love my boss, and my co workers, but I have some cognitive dissonance about the fact that ultimately if I do, well, my company kind of gets better at selling get to people. So what is your perspective on that? Do you feel like banking is kind of a net negative as a career or do? You have a perspective that would be helpful. No, I don't think it's a net negative. I've got actually good friends at work at regional banks. And I think they do a wonderful job. Obviously, they are in the debt business, obviously, you're in the debt business. If you're not involved in something that you go home at night feeling in your spirit that you are slimy. Then you're okay. I mean, and if you're a Bank of America Wells Fargo, there's a good chance you're involved in something slimy because they're pretty much slime balls, you know, and, but if you're at a local Bank regional Bank, a good credit union, just 'cause you loan money doesn't make your slime ball. Now. Obviously you have cognitive distance about that. I would because I'm I'm Mr. get out of debt for the nation. Right. That's me. But I don't personally use dad, and I don't have anything inside this business that uses data or helps the consumer get into that. We don't take credit cards as an example. And but that would be highly hip hip critical in my case, but you work at a Bank. I mean, that's not it's not hypocritical. It's like you work at Pizza Hut. And you take debit card. Are you take a credit card to sell a pizza is that a bad thing? I hate debt, but I take credit cards pizza..
Robin Williams Williams, Argentina and San Francisco discussed on KCBS Radio Overnight News
"The Federal Reserve Bank of San Francisco appoints Mary Daly, as the next president of the regional fed banks. She is a longtime fed economist and labour markets specialist. She will be among three women who lead one of the twelve fed regional banks daily joined the San Francisco fed in nineteen Ninety-six as a research. Economist was appointed director of research in two thousand seventeen she is an expert in wages jobs and economic and. Equality? She's also written several
"regional banks" Discussed on BizTalk Radio
"Like just mentioned that Lam research. What's Applied Materials? From sixty two to thirty eight. Was thirty seven today. Closed the thirty eight thirty nine. So maybe that's all it is just stop beating them up for this. Second. So that reverses a little bit. But then. As I'm scanning when you all have a chance nights. Go look at SunTrust STI. You know, kinda important super regional Bank. Go look at Comerica. Go look at how 'bout fifth third Bank core FIT b. Or key Corp. Or regions finance? Orwell's fargo. For US Bank Corp. Or BBN t. And Morgan Stanley. When you have a chance go look at some of the strong industry P Morgan, which is already down to very important support. Just like America's. And they weren't strong to begin with. And when you look at the KRA, which is the regionals in a whole. Tease the downside before recover. But it's back on the two hundred eight moving average where it held in early July and late July. You don't want to break that again, we're not going to which is telling you it's sitting on it. So so many things moving on the plate today. And then commodities. When you have a chance to look at the G DX today. Good volume data that very oversold very stretched and extended in its bear market away from the normal bear markets will call this sort of a balance. Gold may may be making a little higher low from the low in August. We'll see. So maybe that's changing maybe because when you look at the dollar symbol is UP. Oh, look at that. And maybe making a lower high. So would just let you know, we're watching these things, and of course, some of these countries if you look at the F X China twenty five index that's been smoking fifty four down to forty but I want to get a notice it forty in August than it hit forty yesterday. Around and bounce today. And we'll see maybe it does it. But we're always looking for what possibly can change the leadership in these areas. We're just trying to. Ferret out whether they're starting a process of the worst being over. But again while I say that what's what am financials today. And by the way, that includes the Ameritrade that includes the trade. Those things are getting the smoke. And as I mentioned to you, also the investment managers the investment brokers. So a lot of weird stuff going on today in the indices. The NASDAQ today was seventy eight eighty four was down ninety points finished on eighteen. SNP doubt will never that bad because they were holding up pretty well. But the NASDAQ typists were getting hit guy what that because of the semis. And just software names which were down early finish up. News that hasn't changed. But also, what is not habit hasn't changed? Facebook and Twitter deeper into their bear markets today. Google the deeper into it's below the fifty day moving average. So just a little bit of the word to the wise. Lots of things moving on the plate here. Now, there was news again about some trade talks with China. So Boeing was up eight bucks in that got the Dow coming back. It seems like every time the market weakens is a rumor about some trade talks. Anyway, leave no doubt bones wanted a bit proxies. And of course, Caterpillar also reversed also those are the two names on the Dow. So in my world a little bit of Wyatt. Stop today. But when all is said and done we care about out. Major indices is still sitting somewhat on the side. Some of the worst areas bounce and the semiconductors which were being slaughtered early. Got a lot of it back. That's important day..
"regional banks" Discussed on WBBM Newsradio
"If you're thinking about some areas. To invest Matt matisyahu is a CEO of blue world asset managers in Chicago so Matt let's, start with spider recipe. Regional banking ETF which apparently is something. That you are looking Quite a bit of confidence absolutely it's great one individual stocks do well but with the availability of ATS we get really excited when whole sectors are set to do well in regional base continue to fit, that Bill we like them due to. Their focus on lending on the bed has demonstrated. Continued willingness to move the rave that's gonna benefit the regional banks from both consumer. And business lending points of view as the economy continues to advance we don't really think you. Can go along. In this space there are choices though when it comes to UT ups in the sector and as you mentioned we do still prefer the. Spiders symbol k. r. e. combination of reasons, including things like the number of holdings on the ETF the expense. Ratio and, their performance relative to other, ETF's in the, sector is this in part because to the Trade wars that we're seeing are they going to have less. Of an impact on smaller to mid sized companies that are sort of the, bread and butter of these regional banking operations yeah. That's an excellent point we certainly think so because the the targets. Business and target consumer lending profile, of these banks aren't really going to be directly hit by. Things that at that level so that's definitely one of our considerations now. Your second pick today, is the name that's very familiar to people in the Chicago area TC financial corporation simple TC CF it is of course a, twin cities based Bank but a lot of branches and presence here in Chicago what has you bullish on CF Well yeah we're this is kind of unusual for us. When we're on. The on the. New business our to double down on a sector, but it is a reflection of of just how excited. We are about it and TC Is a leader from the KRA index now, it is of course as you mentioned the symbol for TCI financial Corp. Which is, the holding company that owns the. TC banks and they offer the full menu of financial services to.
"regional banks" Discussed on NewsRadio 1020 KDKA
"And i do have the and perhaps i wouldn't pick i think both of these are indicate us bancorp and pnc and i'm just wondering your thoughts investing that right now or in the near future for again i'm talking you know there there's nice dividends but looking for the appreciation as well as the dividend and then i have another question on the group but let me let me ask you about that first question that i just short no i do like both of those stocks and i think that the regional banking sector is timely i mentioned earlier they've come under pressure as long term interest rates have fallen i do think that's a temporary i don't think we are relapsing into a recession and if we're not relapsing into a recession interest rates on the long end ought to rebound and the stocks ought to perform a well now one thing i like about k r e is in there you're really getting and i should back up kra for listeners is an exchange traded fund that owns a basket of regional banking stocks and one thing i do like about the stocks in that index is that there's mahler and some of the smallest banks are the banks that have received the most regulatory relief this year whereas pnc us bank corp out of minnesota they're larger banks and so they don't get as much regulatory relief i still i think those are attractive stocks to buy the two great banks and still reasonably priced the banking sector regional banks today trade at about a one point six times price to book okay so sometimes you look at price earnings other times we look at price to book you can make a lot of money in banking stocks when they trade near or below book value at say one point oh times book and they start to get a little bit rich when they get north of two times book value so we're right in between that level at about one point five one point six i think that means there's more gas in the tank if you wanted another name i think actually locally fnb b corp which has roots in the hermitage region and is now headquartered downtown but expanding throughout the mid atlantic i really liked their ceo i think he's a great person and very capable of stock seems to be reasonably valued in my view in a decent dividend brian pick growing up you know the picture on the f b so the ticker and the name of the company so used to be known by as first national bank okay and of course cna is in the.
"regional banks" Discussed on WAFS Biz 1190
"Sp five hundred our clients can easily pull this up at g tv goal of swinging back between gains and losses you've got the reality of settling back in a slumber really i mean this is this is what this is the only thing that's moving if anything are the earnings forecasts how would you navigate the market at the moment so or assumption that started the year would be to an eighteen nas here that's for sure also it might might be back in loaded that's usually happen when you have meter election the first nine months of the year usually very you're very strong four fourth quarter so this is is this your so that kind of moves in terms of outlook we stay on us equities as you mentioned earnings have been very strong so it's difficult to earnings earnings forecasts have focused exactly knowing terms of interest for us equities you can see some interesting segments for instance small caps small caps have very strong record after record on the russell etc doc easily to from the strong dollar look at regional banks as well happening so there are interesting segments within us going back to copy he talks about three possibly as being the right number and a lower mutual rate from from where i looked at it but take a look at this this is the these financial conditions this is the library is brad lewis federal reserve financial stress i mean we are coming we're coming back i'm not saying easy street but actually the backdrop for me when i look at that is a little bit more bullish you're from a us domestic perspective i think it's bullish now the fed is very pragmatic and luke also what's going on outside the us and obviously the fact that the us has been strengthening the fact that the tenure has been rising is no creating some kind of let's say difficult situation good internal dialog isn't it i mean that's basically the message that they gave us we have a very robust internal dialogue i buy euchre flattening conversion but then there's the rest of the words and they look at the rest of the world i mean all of the rest of the world what could derail what the fed plans to do not just what happens with oil prices but what happens more fundamentally with geopolitical risk gets out from north korea just a.
House approves bill rolling back banking rules
"And why and how that may or may not affect an americans behavior and what they consider cyber attention to donald trump talk to the cameras cameras i do believe that russia did and we'll continue to try to relate american's perspective on a whole variety of the shoes now we should note that the us intelligence community set in january twenty seventeen in assessment that russia had tried to influence the election to benefit trump the secretary of state mike pompeo says north korea could benefit from american investment and technology if it denuclearize is he says it's something he spoke about in general terms with kim jong un who he's now twice since april the top us diplomat was speaking to reporters at the state department amid uncertainty over whether a us north korea summit will go ahead as planned june twelfth the north is accused the us of a one sided demand that it give up its nukes president trump saying yesterday and may or may not happen but the us is moving ahead as planned and it was a big night for women tuesday's four states cast primary and runoff ballots with georgia democrats taking the lead by giving atlanta lawyer stacey abrams a chance to become the first black female governor in american history abrahams set new historical already with a private primary victory that made her the first black nominee in i female nominee for governor of either major party in georgia voters also went to the polls in kentucky arkansas and texas ahead of the november midterms and congress moved this week to dismantle a chunk of rules framework for banks designed to prevent a recurrence of the two thousand eight financial crisis that brought millions of lost jobs in foreclosed homes the house voted to fifty eight to one fifty nine approving the legislation rolling back doddfrank victory for president trump who made gutting the landmark law campaign promise the republican led legislation pushed by wall street banks as well as regional banks and smaller institutions garnered thirty three votes from house democrats the bill raises the threshold at which banks are deemed so big and plugged into the system that if one were to fail it would cause major havoc take us with you wherever you go download the talk stream live free mobile app more breaking news on the way on this wednesday morning it's may twenty third you've got america's first news.
"regional banks" Discussed on WTMJ 620
"I wanna talk right now about something that you have got to not allow inertia to rip yourself off so i'm looking at a survey that just came out of what people earn in savings with the giant banks bank of america chase city fifth third bank regions suntrust us bank wells fargo or all paying people typically one one hundredth of one percent on their savings which is essentially zero on your savings there are people who have significant deposits that will go at one of these giant banks and convince them to pay them more on their savings but generally if you're with any of the giant monster megabanks or large regional banks as a matter of business they're paying essentially nothing now this is so significant with the federal reserve raising the interest rates it controls again and several more increases coming this year barring some unexpected turn in the world it means that every time they raise rates which you pay for a car loan we'll go up a home equity loan you already have the interest rates will go up quarterpoint every time the fed adjusts would it does and credit card rates will go up by quarter point but the big banks are still gonna pay you nothing on savings because they count on us being busy with our lives and not doing anything about it now we are probably just days away from the first of the online savings accounts paying two percent again right now the best you can earn seems to be settling in around one point seven five percent but those rates are going to continually go up by the.
"regional banks" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode
"First of all like i mentioned earlier this is nirvana for the banks i adore the big money centers jp morgan citi bank america they're the most direct beneficiaries even though the stocks act absolutely terribly same goes for the smaller regional banks i rising which we just heard from last friday i also been buying goldman sachs for my chapel trust even as it has a total house of pain hey that's okay the banks go a little lower your stocks go lower it's okay they actually get cheaper as they come down what else tends to work environment where rates are rising well big cap tech stocks and you know i'm a fan of alphabet which continues to not nearly get enough credit for the fabulous numbers that it had and also as the ad advantage of not doing any business in china worried about a little china i know but until works to and you can own the safe industrials benefit from a strong economy that's typically what you're supposed to be buying coordinated like hedge fund handbook boeing reporting amazing quarter today it stocks nearly off new thirty points from its highs us fan here of united technologies charitable trust owns honeywell the former port a great quarter the latter pills to me because of its breakup value i've got the the united technologies in the bullpen for club members of action plus dot com that's how much i liked that situation greg hayes what a conference call nobody cared big damn day what should you avoid will classically void the high yours everytime the yield on the tenure ticks higher stocks that pay big dividends like the tilles become less attractive versus riskfree treasuries that's tough headwind they need to generate gigantic earnings beat to give you reason to stay and you know we don't get that with many utility stocks and we talked to a lot i'm sure periodically do get a high iota who blows out the number as soloist memory at six flags they reported excellent numbers that stock rally eight point four nine percent still about five percent or to get things really going say with the consumer packaged good stock maginness to be willing to take bold actually breaking up the business for putting whole company up for sale otherwise unfortunately pass the bottom on despite the big freak out over the.
"regional banks" Discussed on BizTalk Radio
"Once again to invest thanks for being with us today so couple important things again we are this middle this range but with the semiconductors breaking badly financials i keep getting their just rangebound here over the last one two three four weeks except goldman's breaking badly here i know in some of the regionals pnc bank down at long term moving there's a lot of weakness and lead to see a couple of real nice days to get things going and if you look all things being equal you look at the xl laugh in kra watch him closely here a lot more to come out we'll see how it plays out the regional banks better than the big banks right now we'll see how long it lasts oils open very weak all red in the oils mostly green by the end of the day regardless of the fact that they're extended this stretch their overbought it's just these oil prices keep ticking higher i noticed this weekend at the pump i was paying two sixty nine if nothing happens within a couple of weeks i'll be paying two seventy nine to eighty nine and especially as we go towards the summer season and just so you know all this blame to go around opec has been lowering production for the last year and venezuela camp the walk their way out of a paper bag and that's what's doing a lot of this at this.
Oklahoma teachers rally in second day of walkout
"The devos skill border troops more than money i'm richard johnson what will keep the southern border secure until president trump gets his wall he is now ready to send people to do the job until we can have a wallet proper security we're gonna be guarding our border with the military the president has floated the idea of border security being a matter of defense and having pentagon funds diverted to construction of the wall as for the caravan of central american migrants he's tweeted alarmingly about since the weekend word has arrived so mexico has at this moment it seems they broken up large numbers of that particular caravan still threatened scuttling nafta trade deal if mexico doesn't do more for border security bob costantini the white house his news conference with leaders of the baltic nations the president also said he wants to pull us troops out of syria and said he could or could not have a good relationship with vladimir putin epa administrator scott pruitt says fifty miles a gallon for cars seven years from now is unrealistic and not cost effective so he's rolling back that obama era goal saying it will help grow jobs it's about more than more money for themselves teachers in oklahoma say they need a real commitment from the state to educate its children need more than our teachers having raises we need teacher attention and we need uptodate classrooms and we need to feel like a priority in our state and we don't gabriel davis among hundreds of teachers on strike for a second day instead marching to the state capitol to demand another one hundred fifty million dollars to fund schools and pay teachers more yesterday oklahoma lawmakers approved raises the teachers say are not enough chair of the federal reserve's regional bank in san francisco is hiring a mover and john williams has been chosen to head the fed's new york bank which is considered first among equals spotify down in its first day of trading about one hundred fifty a share the dow right now to nineteen i'm rich johnson it's official newsmax tv is america's fastest.
"regional banks" Discussed on C-SPAN Radio
"The cases where there is common interests and when there's a divergence we understand why we have a areas of disagreement and then that allows you to certify common ground so we can actually make their firms and the financial system a better and safer while you're in washington and means you're not gonna get away with that talking about some legislation but obviously we've had a little banking bill that was passed out of the senate recently and that included a change in systemic risk thresholds from fifty billion to two fifty and other changes as well in terms of possibly doing away with tim volker compliance programs for some of the smaller banks you've actually talked about this in the past about how some of these regulations should not have been imposed on large community regional banks you've any thoughts that you can share about that legislation or those efforts i'm pretty sympathetic with the senate banking legislation in the sense that it maintains the key pillars of doddfrank that i think are really important capital liquidity central clearing of the kind of derivatives supervision of financial market utilities by the federal reserve because now they're really systemically important and retaining title to or authority so when a big bank is in trouble and then the changes that they made in terms of providing relief for smaller banks i think absolutely make sense and the and the changes the volcker rule so i'm i'm pretty i mean do i agree with every last period incentives probably not but generally i think it's a legislation that goes in the right direction william dudley of the bank of new york interviewed by tom quad men with the chamber of commerce that because in some of our travels from around the country and obviously we represent just about every type of business that there is an incised business but when you go out particularly in the heartland of the country there there has been a disconnection between small business lending leading for small businesses that bank aggregate lending should has gotten up but it's going to places other than small businesses so do you think that this is an appropriate way to maybe right size some of those impacts and is that way.
"regional banks" Discussed on Marketplace All-in-One
"They don't want anybody else to compete so what we're trying to do and by the way there is bipartisan support for this and i think this legislation will be passed in the next three months the modify doddfrank so that commercial banks regional banks community banks can succeed arab jack they've is we don't want just eight large banks and the united states so the modifications on doddfrank are old designed to help community banks and regional banks even though community banks are making record profits this past year a again that's because the economy is doing better but yes do you want them all to be gobbled up by brian went ahead no we want to make sure that we have a healthy broadbased banking system the circular thanks for your time and thank you all for come a computer we could take your own and one of the things sector mnuchin and i didn't get to last night was immigration and the changes the white house wants to make an how people are allowed to come to this country emphasizing skills over family ties family reunification it is sometimes called now more frequently by republicans chain migration the argument that the president trump and the gop make is that a single legal immigrant can quickly and easily bring in in early unlimited number of relatives who the theory goes then created drain on the economy but as marketplace's reema khrais explains there is very little that is quick or easy about it allah and her daughter iris spend pretty much every minute together every waking moment i know recent afternoon after running errands they made their way back to their los angeles apartment holding hands monday abor even dress and the same outfit fold cheetah freights his which i took ordinate every sevenday iris was born at the rare genetic disorder known as abor it's syndrome that's left permanently disabled in unable to.
"regional banks" Discussed on Bloomberg Radio New York
"That the europeans want to be more competitive in global banking do they need a bigger bang today needs a merger to create a european chaffey i think so you're really wanted to choose one of the great benefits of a bank we diversified business sums going to go wrong somewhere diversity and help to balance that just look at like regional banks in i in one city one term you have a hard time doing with the recession if it's a 100 percent on your town per hurts the industry in her real estate hurts individuals odds so you're one of the things the european union weather compasses the paneuropean market the common market that car market allows you to cars the scale diversification and they're talking about here you see them now turned out could rules in place kabir khanna mark paneuropean banking rules i do i do the veges in bank merged you'll see the banks murray within their own countries or crossover and eventually means the helicopter at above its estimated things a little divergence are let us us the question of succession a areas the question about succession now and then and when you're are typically say well i'm going to be here for another fiveyear 61 you're going to be ceo for another five years until true still through but the report the board i don't believe that silver by grip reports say that again before you alec out there but ciller by drug reports of other companies today we got team i want to go be under the layer down voter worry town i talked to revalue this morning he's written a hillary about his principles and the culture that he built and he feels make bridgewater the success that it's become would you consider doing the same thing you know i read his book i've spoken to ray here she said you know wrote about how core principle is totally right that we in it's hard to do a sitin i've done it many wait we might schumer's letters the of things i write note that is what it is kind of principles and guidelines in the examples of stuff like that ever write a book i may go write a book would threaten to write a book when day i could ever taken it outlined our editor a and i will have principles and got on jamie great speak here they're like go on i see a eu it's jamie.
"regional banks" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode
"Trillion dollar says of last tapered they report but the biggest beneficiaries actual turn out to be the regional banks because they're typically much closer to being pureplays on lending and they're not doing a lot of trading water wanna mna second most important metric loan growth model is this big deal for the bank social major tell for the overall economy which is why i said at the beginning how important these these stocks are going to be for the overall market we want to hear that things are robust is the stock market indicates nothing would make me happier then to see some bullish loan growth numbers it's good for the banks is a fabulous sign the businesses are feeling more confident about the prospects going forward and are thus more willing to borrow but i must tell you loom growth tailed off his new year end you can hear that it's gonna freak out steal your heart we're also going to hear a lot about dividends by that and i think this is going it be good his thing i'm most excited about the combination of a much lower tax rate and a looser regulatory environment means the banks could substantially increase their capital returned plans for you shareholders listen up remember last year the fed cleared all of the big capital a bank's capital return plans emboldening in the more aggressive and that's before trump even employers own fetchy i think janet yellen has done a remarkable job chief being replaced by jerome power j pals we all called his foreign private equity executive and real good guy by the way personally and i think will be a lot easier on the banks they're sitting will bogalusa cash so let's see on which they can increase by extra single large dividend boos that were risking ira the fed i think the fed actually encourage them too much capital on their balance sheets of course the most valuable information will get comes from listening to the bank's conference calls and actually hearing what their ceos have to tell us of which most.
"regional banks" Discussed on The Sidebar
"With um a series of checks and balances where there wasn't so much concentration in washington were so much concentration in new york those are the true power structures they were trying to uh temper um and and then there's there's a reduce regional banks around the country and they have a rotating voice in this so there are board of governors and there are um there are bank presidents and the bank presidents sit on the fomc which sets rates are sets monetary policy the fed shares the person in charge of the board of governors and also in charge of the fomc or the rate senate committee so that person is i mean the easier shorthand way to think about it is probably the most powerful financial person in the world and janet yellen term expires in february that significant because of the timing of win this this year he's renominated or departs correct yeah well um uh the fed chair has a four year term that is um there's a word for this but it's not coterminous or doesn't go exactly along with the uh the term of a president so that every president will have an overlap from the fed chair so it's not a strictly uh overlapping period and um so i yellen's term is up uh the end of january or new term will start in in in february and we are all waiting uh i guess quite literally on the edge of our seats for who donald trump will nominate or will he renominate the fed chair janet yellen howley she done on the job this enjoy it she made her mark is here.
"regional banks" Discussed on BizTalk Radio
"Semiconductor index overbought near nearterm but back above the fifty th day moving average so semiconductors better switching gear the regional bank stocks do not act well here in fact act poorly and we pretty much want you to stay away from all the regional banks there were few names that a strong pnc comerica if he had it while not even comerica that's rolled over the bigger ganked banks better but still just range bell strongest names remain bank of new york bk aww strongest names morgan stanley ms but looks like it may start to roll over here a little bit we'll see citi group also but also looks like we're going to be watching the big banks very closely in here ladies and gentleman watch them and then as i was doing my scans i was just noticing a few things ford and this is what we mean by ford is back to the lows of two thousand twelve why all at this just to make you understand what's going on biak chrysler is new yearly highs and this is what we mean by you cannot throw darts right now you the to be sectorspecific at sometimes even in the sectors you've got bullet bear market side by side it's very weird to watch but listen when we do our scans every night we don't rationalize we drowned out what we've seen in the past even though it's in our file manager and every night comes a new list and with pretty much able to tell leadership no leadership though leadership breaking down breaking outs you get the points so we tell you 5050 we mean it and as we've set you if you just had a nice little portfolio big retailers over the last year big oil over the last year just retail at oil big names the big things there you'd be crushed if you won't ford you'd be crushed if you own ipm it'd be crushed if you will g e you'd be crushed if you own autozone advanced auto parts you be crushed.