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Chance to intern w/ the FDIC in NYC
So I transferred universities & changed majors earlier this year, from engineering to now studying finance & math. I applied for hundreds of positions, and after just getting ghosted and rejected, finally heard from a few places. I landed an interview for the FDIC management scholars program in NYC,...
Dismissed ( foj) petty theft california 5 years ago. I'll be applying to ib analyst positions soon. What should I do?
Have a dismissed petty theft on my record from 5 years ago that I am really worried about after reading the few threads. I talked to the FDIC customer service, and they said its an automatic clearance. Although it's dismissed it show's up on a background check ( i did a livescan). Any advice would...
Should Bankers Be Paid in Bonds?
Mod note: Best of Eddie, this was originally posted on 10/9/12. Sheila Bair has been making the rounds promoting her new book lately and, by and large, she hasn't said anything that she hasn't been saying for five years now. But one thing she said recently stuck out in my mind and got me thinking...
Jim Rogers: "Run For the Hills. I am."
Things in Cyprus have started to melt down , despite the relative calm the Cypriots appeared to have embraced early on in their recent banking crisis. The whole scenario is enough to give intelligent savers pause, as it sets the precedent that plain vanilla bank deposits are no longer sacred. To...
FDIC Section 19 and internship eligibility?
I am confused by the FDIC Section 19 requirements for de minimis offenses. The offense occurred in NY . I was with a friend of mine. She had weed. We both got a Desk Appearance Ticket. Ended up getting ACDs. In six months (im about 2 months in so far) the case gets dismissed, the arrest record is...
FDIC
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation operating as an independent agency created by the Banking Act of 1933.
Bair Calls for Break-Up of JP Morgan Chase
This is pretty big so I thought it deserved its own thread. Former FDIC Chairwoman Sheila Bair calls for the break-up of JP Morgan Chase in the June 11 issue of Fortune Magazine, comparing Jamie Dimon to a chicken cornered in the coop and being pecked to death by the other chickens:...
Clawbacks Coming
As more than a few Dodd-Frank aftershocks tremor about this week, none can be more important to the rank and file of Wall Street than potential bonus clawbacks. Even though such clawbacks would not directly affect our typical WSO monkey, this is a pretty interesting topic for debate among The...
Keys for Cash: Inmates Run Asylum
I have an offer for you guys... I will loan you dollar amount X, which you will use to purchase asset Y. You will pay me back an amount less than what I loaned to you originally. Let's call that amount Z. Your goal will be to keep Z as close to zero as possible. You will carry out your goal for as...
non-FDIC insured financial/depository institutions
I've been trying to Google this question but I'm not getting clear answers. Maybe somebody here has some insight. Ok, so virtually all depository institutions in the United States--commercial banks, S&Ls, etc.--are FDIC insured, by law I think. My buddy has a car dealership--several actually--and...
Buyout Blunders or Distressed Dandies?
With more stringent FDIC regulations taking hold, buyout shops such as Moelis and Carlyle have taken to purchasing small banks (
Are foreign BBs governed by the FDIC too?
Hi all, Sorry, this might be a very stupid question, but are foreign BBs ( Deutsche Bank , Credit Suisse , UBS etc ?) subject to the rules set in place by the FDIC? Maybe "governed" isnt the right word. But for example, the FDIC has strict rules on employment. Do these foreign banks have to abide by...
FDIC to get $500 Billion?
Looks like another problem that has been brewing for a long, long time is finally coming to a head. The FDIC is scrambling to come up with the money to cover the deposits in failed banks. According to my (usually imperfect) research, the FDIC has shut down a total of 16 banks this year. These are...
FDIC Hiring
When the banking industry shits a brick that stinks up the entire country, and with no feasible end in sight, someone's got to come in and clean up the mess. So, in this economy where hundreds of thousands are facing endless lines at the unemployment office, a new job opportunity crops up. The...
The Indymac Slap in Our Face
Here is a mortgage lender insider video making the rounds explaining the sweetheart deal reached between the government and Indymac, and the Goldman Sachs connection to the new holding company. Pretty unbelievable stuff: http://www.thinkbigworksmall.com/mypage/player/tb…
Trouble in Paradise
In the wake of today’s announcement that Wells Fargo is buying Wachovia , it seems that Citibank is in quite a tizzy . Citi had entered into an agreement to buy portions of Wachovia, and they’re pretty pissed off that Wachovia backed out at the last minute, apparently to take the better deal...
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