Worse Than Unfair
People complaining that JPMorgan Chase’s rumored $13 billion mortgage settlement with the Justice Department is wildly unfair don’t know the half of it. The deal is unfair, of course: the feds are strong-arming Morgan into Read more…
No, Reserve Releases Don’t Count As ‘Number-Fudging’
Some events are as predictable as the sunrise. Sure enough, Bloomberg’s accounting scold, Jonathan Weil, has taken to carping that banks’ earnings lately are of “low-quality” or worse because–and you hear this every cycle–they contain a significant amount of loan-loss reserve releases. He’s just sure he’s on to Read more…
OneUnited Needs to Go
I hate to keep harping on this, but I’m still at a loss to understand how in the world it can be that OneUnited Bank—the Boston institution that’s been kept afloat by the machinations of, among others, Maxine Waters and Barney Frank—is still in business. Read more…
When banks try to align their business agendas with their IT agendas—a crucial task at any institution—the two sides often encounter a difficult complication: communication gaps between the business managers, on the one hand, and the IT managers, on the other. The unfortunate result of these gaps can be IT systems that are too expensive, and that do not deliver the business functions they’re supposed to. The bank that can find a way to bridge these IT-business head communications gaps thus has a huge opportunity to save money and improve Read more…
