Banks

If you're like me, you may have a tough time keeping track of all the finite details in the $700 Billion Financial Bailout Package, aka "It's A TARP!".

Don't wait to get called out at a fancy downtown dinner party again thinking Pamrapo Bancorp of Bayonne, NJ is only getting $10 million in the plan. "They're getting $11 million, duh, you idiot."

Luckily, everyone's favorite bastion of journalistic integrity and fancy fonts, the New York Times, assembled this helpful list of all the disbursements.

http://projects.nytimes.com/creditcrisis/recipients/table

So if you're interested check out all the exotic locations like Cleveland, OH, Newark, NJ and White Plains, NY where your tax dollars are going.

A strange phenomenon has been occurring centering around the clamor for banks applying to be included in the most recent TARP bailout. At first banks were sold off and discredited when they announced they would apply for the bailout, many investors assuming they were complete failures for needing to do so. Now it seems the only way to guarantee you are solvent is to be included in TARP protection. Kind of ironic, right?

American Express has won the Fed's approval to convert into a commercial bank. America's largest credit card company will be allowed to waive the normal 30 day waiting period on its application so that it can have immediate access to the Fed's discount window.

The company has been beset by rising credit-card defaults fueled by the sagging economy and rising unemployment. October also marked the first time the company, which has posted four straight quarters of losses, was unable to sell bonds backed by customer payments.

Are you guys dressing up?
What are you dressing up as?
Do people dress up at your work?
And are you guys clubbing or barhopping?

Do many middle market shops get into small leveraged finance deals? I'm looking for a list of 5-6 banks. Any help would be appreciated.

TTH7

Will New York City stay the financial powerhouse it has always been considering many of the parent companies of the new "superbanks" are based elsewhere?

There's been talk about how once the dust settles, big changes will be in store for how the remaing banks will operate in the future. Just what sort of changes are could we be facing as an industry? Are large bonuses a thing of the past? Will new risk management measures reduce the amount of trading and asset classes banks will be involved in? Any thoughts?