Though 268 banks have failed since January 1, 2008, there
has been relatively little litigation related to the failed banks, as least so
far. For example, the FDIC only recently filed its first action against former
directors and officers of a failed bank (as discussed here ). There have also been...
In a public report that makes for some interesting reading,
UBS on October 14, 2010 released a statement disclosing that though its own
investigation had concluded that "what happened should not have been
allowed to happen," the company will take no legal action against its
As has now become a familiar routine, this past Friday
night the FDIC took
control of several more commercial banks . The seven additional banks seized
on Friday bring the year to date total number of failed banks to 139, and the
total since January 1, 2008 to 304. At the same time, lawsuits involving...
Leaders of the four largest global accounting firms - Ian Powell , chairman of PwC UK, John Connolly , Senior Partner and Chief Executive of
Deloitte's UK firm and Global MD of its international firm, John Griffith-Jones , Chairman of KPMG's Europe, Middle East
and Africa region and Chairman...
The short week after the July 4 th holiday is
usually quiet. There certainly did seem to be less traffic on the roads. But
nevertheless, there was news of note this past week on several stories we have
been following, as discussed below. The traffic on the roads may have slowed
but the circulation...
According to the FDIC's Quarterly Banking Profile for the first quarter of 2012, which can be found here and which was released on May 24, 2012, the banking industry generally continues to show improvement. The industry's aggregate profits are up, and the industry is shedding bad loans, bolstering...