banking crisis

Meredith Whitney Warns of 5,000 Bank Branch Closures

The financial analyst who rose to fame for her bearish calls on banks ahead of the financial crisis, sees more bad news ahead, predicting that banks will close 5% of their branch offices over the next year and a half.

Ireland in Crisis Talks With EU Over Bailout

Ireland headed into a confrontation Tuesday with leaders of the European Union and other struggling members of the eurozone on whether to seek a financial bailout as jitters continued to disrupt the continent's financial markets.

Wilbur Ross, Carlyle Will Buy Ireland's Education Savings Bank

Investor Wilbur Ross will buy Ireland%u2019s troubled Education Savings Bank as part of a consortium with private equity outfit Carlyle and Dublin-based Cardinal Group. The consortium will close the deal for the bank, which has about $15 billion in deposits, as soon as next week, Ross told CNBC.

Global Deal Reached on Bank Finance Reforms

The so-called Basel III reforms impose new rules for capital reserves that the world's banks would have to keep on hand as a cushion to avert future financial meltdowns. The G20 nations are expected to ratify the agreement at their meeting in November.

House Passes Wall Street Reform Bill, Senate Holds Off

Nearly two years after the nation's banking system imploded, the House Democrats passed a financial regulatory reform bill intended to avoid the calamity's recurrence. The Senate delayed action on the bill as Dems try to muster the needed votes.

U.S.-European Discord Could Hurt G-20 Reforms

Obama wants European governments to keep spending to stave off an economic slowdown. Europe, particularly Germany, doesn't want to hear about it. Expect a fractious debate at the Toronto summit meeting of G-20 industrial countries.

The Financial Reform Endgame Approaches

One of the key questions facing Congress as it labors to reconcile the House and Senate bills is this: Three years after the financial crisis began, how much risk should America's banks be allowed to take? Not surprisingly, opinions differ greatly.

Can an EU-TARP Buffer the World From Europe's Crisis?

The financial crisis that started with overly indebted Greece is spreading rapidly to engulf Spain, Portugal, and European Union banks. The world may need a TARP-like rescue effort to contain Europe's contagion.