Isn’t it ironic that at almost the same time the Fed lends J.P. Morgan Chase $30 billion to buy Bear Stearns, the FDIC hires 140 people to prepare for bank failures across the country? The message is resoundingly clear: The government will bail out the big guys, but the little guys will be allowed to … Read more
Treasury secretary says investment firms need greater supervisionU.S. Treasury Secretary Henry Paulson said investment bankers should face additional regulation. Speaking March 26, he said that if investment bankers want access to the Federal Reserve’s Discount Window, they should be subject to the same rules that commercial banks face. Meanwhile, Max Baucus, D-Mont., the Senate Finance … Read more
Joshua Guttau has been named president of Treynor State Bank, Council Bluffs, Iowa. Guttau joined the bank in 2003 as chief financial officer. Guttau attended Iowa State University, Ames, where he earned both bachelor’s and master’s degrees in finance. Mick Guttau will remain chairman and CEO of the bank but will move from day-to-day management to focus on … Read more
For years, Chicago has faced an uphill battle to pay its bills. Mayor Richard M. Daley claims Chicago’s problem is a revenue shortfall while others say it’s a spending problem. To solve the problem, Daley proposed in 1992 to create a city-owned casino. [Continue]
West Bank of Des Moines, Iowa, has struck up a partnership with a new internet-based social network that may bring in millions of dollars in deposits. [Continue]
Well-designed facilities help banks offer better customer experience. [Continue]
Five keys can help managers unlock path to success. [Continue]
Since the advent of the world wide web in 1994, analysts have been telling us the internet will change the way we do business. While most banks have incorporated the internet into their business operations, most havent delved into the cyber realm of social networks. Two financial institutions, however, are involved with very intriguing web … Read more
Economy slowing Economic growth has slowed since the beginning of the year, according to Federal Reserve banks and their Beige Book report. Two-thirds of the Fed Districts cited softening or weakening in the pace of business activity, while the others referred to subdued, slow or modest growth. Retail activity in most areas was weak or … Read more
Bankers Trust, a $2.1 billion bank based in Des Moines, Iowa, has hired Suku Radia to become president. His first day on the job was March 13. Radia is well known to many Iowa bankers because he headed up the banking practice at KPMG for many years before taking the chief financial officer post at … Read more