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robert reed

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BNET Author Biography
Robert ReedBob Reed has more than 25 years of journalism experience. He has been a reporter, editor, columnist and analyst for major publications and news organizations including, Bloomberg Business News, Crain
more about Robert Reed »

BNET Resources

Financial Roundup: SEC Decides To Keep Mark-To-Market, Citadel Retreats, New Bank Failure, Mortgage Mess
Mark-to-market sticking around - Despite protests from the banking industry, the Securities and Exchange Commission will not suspend the controversial mark-to-market accounting rule. Some in the banking industry have blamed the accounting rule for worsening the credit crunch. The SEC, however, is open to discussing ways to refine the rule's...
Tags: Bank, Mortgage, Financial, SEC, Citadel Security Software, Asia, Financial Services, Robert Reed
Blog posts 2008-12-08
Citadel's Top Hedge Fund, CEO Under Siege
Citadel Investment Group, one of the world's largest hedge fund managers, is under heavy attack. And that's making Ken Griffin, the company's founder, fighting mad. Chicago-based Citadel, with nearly $20 billion under management, is reeling from what Griffin is labeling the "single-worse month, by far, in the...
Tags: Hedge Fund, Citadel Security Software, Ken Griffin, Investment, Financial Services, Finance, Robert Reed
Blog posts 2008-10-16
Bush's Bank Rescue Opens Door to Private Investors
Would you invest in a bank that's partially owned by the Bush Administration? That's the question private investors worldwide will be exploring as they evaluate the impact of the federal government's decision to directly invest in the nation's largest banking concerns. In return for...
Tags: Bank, Bank Of America Corp., Investor, Bush, Banking, Financial Services, Financial Accounting, Finance, Robert Reed
Blog posts 2008-10-14
Bailout Ultimatum: Uncle Sam Wants Chase, BofA, Goldman As Partners
Under the U.S. government's economic rescue plan, the nation's biggest banks get richer. And the smaller banks? Well, they get to wait in line. The U.S. Treasury will quickly invest about $125 billion to purchase ownership stakes in nine of the nation's largest banks, including JP Morgan...
Tags: Bank, Bank Of America Corp., Financial Services, Robert Reed
Blog posts 2008-10-14
Financial Roundup: Paulson Backs Mitsubishi, Bailout Takes Shape
U.S. Treasury Secretary Hank Paulson couldn't stomach the possibility of Japan's Mitsubishi UFJ Financial Group walking away from its announced investment in wobbly Morgan Stanley. So Paulson made Mitsubishi an offer it couldn't refuse: The U.S. will back your play. Despite the mass infusion of taxpayer-backed funds...
Tags: U.S., Mitsubishi Corp., Bank, Financial, Banking, Investor, Morgan Stanley, Financial Services, Robert Reed
Blog posts 2008-10-13
Paulson Edges Toward Cash Injections for Failing Banks
The British bank rescue plan is coming! The British bank rescue plan is coming! Treasury Secretary Hank Paulson doesn't resemble Paul Revere, our country's famous midnight rider, but he's definitely signaling that a British-backed effort to resolve the banking and economic crisis is...
Tags: Bank, Financial Services, Robert Reed
Blog posts 2008-10-09
BNET on 'Marketplace': Has the Fed Gone Too Far?
The Federal Reserve's dramatic attempt to end the credit crunch was the topic of a recent radio report aired on the Marketplace business show, heard nationwide over many public radio stations. I was among those participating in this report by Washington Bureau Chief John Dimsdale, who explores...
Tags: Federal Reserve Board, Radio, Advertising & Promotion, Marketing, Robert Reed
Blog posts 2008-10-08
BofA, Wachovia Cut Prime: Impact On Lending Unclear
It's going to take more than a mere interest rate cut to raise the banking industry's comfort level. In reaction to an unprecedented interest-rate cut by six central banks throughout the world, major U.S.-based commercial banks today began lowering their prime lending rate, a benchmark that lenders typically charge their best...
Tags: Bank, Bank Of America Corp., Interest Rate, Wachovia Corp., Banking, Financial Services, Robert Reed
Blog posts 2008-10-08
Fed's Bernanke Bets Big On New 'Confidence' Game
If you thought the federal government's $700 billion economic recovery plan was a huge gamble, then hang on. You ain't seen nothing yet. In a dramatic move aimed at breaking the credit crunch, the Federal Reserve is essentially agreeing to lend short-term money to major corporations -- a move that could also...
Tags: Game, Bank, Federal Reserve Board, Commercial Paper, Robert Reed
Blog posts 2008-10-07
Financial Roundup: Crisis Threatens Europe, Banks Fight, and More
The sharks are circling Europe -- How does that goofy Disney song go? "It's a small world, after all..." Well, today's stock market plunge of nearly 800 points proves that point. It is a small world and we're in the midst of a full-blown global economic crisis....
Tags: Bank, Financial, Wells Fargo & Co., Europe, Wachovia Corp., Citigroup Inc., Shark, Financial Services, Robert Reed
Blog posts 2008-10-06
Credit Card Firms Tug On Customers' Leashes
The ubiquitous credit card industry is getting squeezed by the country's economic pinch. Purveyors of plastic are tightening lending standards by lowering borrowing limits, raising interest rates, discouraging rolling over balances and boosting fee penalties on late payments. They're also diligently monitoring customer credit...
Tags: Credit Card, Credit Card Industry, Sales Channel, Financial Services, Sales, Robert Reed
Blog posts 2008-10-20
Consumers Fret Over 'Mega-Banks' BofA, Chase and Wells
A growing number of U.S. consumers, already depressed about the state of the economy, are beginning to worry that big banks are bad business. A recent Gallup Poll survey finds that two-thirds of Americans say they've been hurt by the credit crisis, stock market plunge and related...
Tags: Consumer, U.S., Bank, Bank Of America Corp., Stock, Stock Market, Financial Services, Investment, Finance, Robert Reed
Blog posts 2008-10-21
Financial Roundup: Bank Mergers, Fat Wall Street Bonuses, Paulson Backlash
Big regional banks look like merger bait -- Non-megabanks such as National City, Fifth Third Bancorp and Keycorp all posted big losses in the third quarter, and that weak performance -- combined in some cases with low stock prices -- make them look a lot more like merger candidates. For...
Tags: Bank, Merger, Financial, Guardian, Paulson, Mergers & Acquisitions, Financial Services, Investment, Finance, Robert Reed
Blog posts 2008-10-22
Advice To Team Obama: Keep FDIC's Bair
Now comes word that Timothy Geithner, President-elect Barack Obama’s choice for U.S. Treasury Secretary, is trying to push Federal Deposit Insurance Corp. Chairman Sheila Bair out of office. So much for Obama's "team of rivals" governing philosophy. Apparently, Geithner worries that Bair is not a team player,...
Tags: Bank, FDIC, Team, Citigroup Inc., Treasury Secretary, Financial Services, Team Management, Management, Robert Reed
Blog posts 2008-12-04
Financial Roundup: Chevy Chase Buyout, Credit Suisse Cuts, Obama Team Infighting, BofA Retirement Survey
I'm Chevy Chase and you're not, anymore - Capital One Financial is acquiring backyard rival Chevy Chase Bank for $520 million in cash and stock. Bethesda, Md.-based Chevy Chase is the latest in a parade of regional banking comanies that have been acquired since the banking crisis bloomed earlier this...
Tags: Bank Of America Corp., Banking, Credit Suisse Group AG, Financial, Financial Services, Geithner, Human Resources, Job, Recruitment & Selection, Robert Reed, Survey, Workforce Management
Blog posts 2008-12-04
New Year's Resolution: Get Out Of Hedge Funds
The hedge fund industry is bracing for a massive "end-of-the-year" sale as jittery investors opt to stash their cash in safer places. Hedge fund redemptions are expected to accelerate in December as many clients have already given the 30-day notice many hedgies require before exiting. ...
Tags: Hedge Fund, Hedge Fund Industry, Hedge Fund Redemption, Investment, Financial Services, Finance, Robert Reed
Blog posts 2008-12-03
Financial Roundup: GE Cuts, Credit Card Woes, Offshore Banking Probe, Crummy MBA Job Market
GE's Focus: Fixing Financial Unit -- Conglomerate GE is chopping away at its giant GE Capital financing unit. GE will take a charge of up to $1.4 billion to speed up shrinking the financing group through cost cuts, discontinuing some operations and decreasing leverage with reduced borrowing. GE says a...
Tags: Offshore, Job, General Electric Co., Financial, Credit Card, Banking, Outsourcing, Financial Services, It Operations, Business Operations, Outsourcing & Subcontracting, Robert Reed
Blog posts 2008-12-02
Loan Fight: Deutsche Bank Vs. Donald Trump
Once again, Donald Trump is going toe-to-toe with his banker. Deutsche Bank, a major backer of Trump's mammoth new condominium/hotel tower in downtown Chicago, is demanding the real estate mogul pay a $40 million personal guarantee connected to a $640 million construction loan the German bank made...
Tags: Deutsche Bank AG, Commercial Real Estate, Casino, Chicago, Donald Trump, Trump Entertainment, Casino Holding, Real Estate, Financial Services, Business Operations, Robert Reed
Blog posts 2008-12-01
First Bank & Trust Refuses Fed Bailout
The way major financial institutions are feasting on taxpayer-backed bailouts, you'd think every bank in this country has on the feed bag. Not true. Just north of Chicago, dwelling in the People's Republic of Evanston, is First Bank & Trust -- a 13-year-old community...
Tags: Bank, Federal Reserve Board, First Bank & Trust, Financial Services, Robert Reed
Blog posts 2008-11-30
Bailout Buffet: Is Bank of America Ready For More?
Now that Citigroup has gobbled up a second helping of taxpayer dollars, there's growing speculation that rival Bank of America is next in line for another bailout meal. At the time of Citigroup's new deal, President George Bush told the American people that more government-backed bank rescues...
Tags: Bank, Bank Of America Corp., Banking, Financial Services, Robert Reed
Blog posts 2008-11-25