Wall Street & Markets

The problem with shareholder value

I’ve got an essay up on CNNMoney.com, which will eventually find its way into the paper pages of Fortune. It begins:

There was a time (the 1990s, to be precise) when the concept of shareholder value made a bit of sense: Corporations focused on keeping shareholders happy, and their stock prices rose through the roof.

Things haven’t …

FDIC economist pushes aggressive new approach to banks

This was just forwarded to me by former Curious Capitalist guest blogger Mark Gimein:

KANSAS CITY, Mo. (AP) — An economist on leave from the federal agency that insures bank deposits has been charged with the April 11 attempted robbery of a Kansas City-area bank.

Jeff Walser said he had a bomb in his briefcase and demanded money at the …

Stress tests: The winners and losers

They’re out! And available for download! And what do the long-awaited stress tests from America’s banking regulators tell us? Well, first of all, that American Express, BB&T, Bank of New York Mellon, Capital One, Goldman Sachs, JP Morgan Chase, MetLife, State Street and U.S. Bancorp all get to go about their business without having to …

Stress tests: Maybe it was never about the capital

The Treasury Department will finally be releasing the already endlessly leaked, contemplated and criticized stress tests in a few hours. After that we will be subjected to another confusing month or so of watching the banks deemed to be in need of more capital find ways to meet regulators’ demands. Much of this, it appears, will involve …

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