The financial analyst who rose to fame for her bearish calls on banks ahead of the financial crisis, sees more bad news ahead, predicting that banks will close 5% of their branch offices over the next year and a half.
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Ireland headed into a confrontation Tuesday with leaders of the European Union and other struggling members of the eurozone on whether to seek a financial bailout as jitters continued to disrupt the continent’s financial market…
Investor Wilbur Ross will buy Ireland’s troubled Education Savings Bank as part of a consortium with private equity outfit Carlyle and Dublin-based Cardinal Group.
The consortium will close the deal for the bank, which has about $15 billion in deposits, as soon as next week, Ross told CNBC.
The consortium will “buy the bank and pour capital into it”, CNBC reported.
The Irish bank…
Continue reading Wilbur Ross, Carlyle Will Buy Ireland’s Education Savings Bank
Wilbur Ross, Carlyle Will Buy Ireland’s Education Savings Bank originally appeared on DailyFinance on Wed, 15 Sep 2010 07:49:00.
Filed Under: Company News, People, Investing, Taxes, Credit
The so-called Basel III reforms impose new rules for capital reserves that the world’s banks would have to keep on hand as a cushion to avert future financial meltdowns. The G20 nations are expected to ratify the agreement at t…