Financial & Business Services News by GLG Council Members

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

JPMorgan, the man who encouraged lending

September 26, 2009

Analysis of:How to Stop a Credit Card Payment Increase | www.mainstreet.com

During the last major financial meltdown or depression, JPMorgan, the man who encouraged lending by laying down the gauntlet to his peers, single handedly stimulated the economy. He knew that the severe times dictated new and severe lending techniques. I believe there is going to be an even LARGER backlash to Chase and American Express and other credit card lending institutions, that continue in the business of credit card lending, and continue alienating the high FICO borrowers.

Swiss banks are facing major challenges

September 26, 2009

Analysis by: GLG Expert Contributor

Analysis of:Swiss Private Banks Go Down Market as Crisis Destroys Wealth | www.bloomberg.com

The issue of the Swiss banks is not limited to the effect of the crisis and the consecutive destruction of wealth.Their challenges are:- increased sophistication of many banks around the world who are closer to customers and can provide similar services;- the stigma attached to Swiss banks after the various "tax scandals" in the US, Germany.....- they are loosing the Ultra High Networth customers (over Euros 30 Millions) who are going to new boutiques which are offering more tailor-made services

The Real Story Behind Wall Street’s Collapse

September 26, 2009

Analysis by: GLG Expert Contributor

Analysis of:Wall Street Journal Article - From Bear to Bull | online.wsj.com

The ill conceived and poorly executed regulations imposed upon the financial services industry over the past eight decades are the direct and proximate cause of the current turmoil taking place on Wall Street. Although certain narrowly tailored regulations are beneficial to the economy at large, the “shot-gun” approach favored by legislators over the years has cause far more harm to Wall Street and to the global economy than good.

Where was my Risk Management at the time of the crime?

September 26, 2009

Analysis by: GLG Expert Contributor

Analysis of:Rethinking Risk Management after the Crisis | www.khaleejtimes.com

Numerous articles have been published on the risk management lessons learned from the current credit crunch. The common thread is that the mistakes this time are more or less the same as prior to any other crisis; disregard for rare events, to much concentration and what seems more apparent now: lack of understanding of the new and complex breed of financial derivative instruments and markets. The discussion has focused on the larger players in the market, but what is the lesson for the smaller?

As the Date for Reform Came Issuers Made Big Moves that Will Impact Economy

September 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:Credit Card Issuers Getting In Their Licks Ahead Of Reform | www.huffingtonpost.com

The large banks and credit card issuers have moved in big ways ahead of the date for the effectiveness of credit reforms. These reforms will have major impacts for consumers and will also have a significant impact of near term economic growth. These recent changes will be seen in the drop in consumer credit.

Chase Test Likely Targeting Rate Surfers and At-Risk Customers

September 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:Credit Card Issuers Getting In Their Licks Ahead Of Reform | www.huffingtonpost.com

Chase’s new policy is most likely targeting rate surfers who will pay off at the end of their promotional period and at-risk cardholders who are using the lower rates for balance transfers from higher-rate issuers. The Chase test is likely looking to see the impact on concurrent runoff of existing higher-rate balances (which doesn’t apply to the surfers) and on whether the policy is accelerating delinquency rates among at-risk cardholders (those with lower FICO scores).

Test Likely Targeting Rate Surfers and At-Risk Customers

September 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:How to Stop a Credit Card Payment Increase | www.mainstreet.com

Chase’s new policy is most likely targeting rate surfers who will pay off at the end of their promotional period and at-risk cardholders who are using the lower rates for balance transfers from higher-rate issuers. The Chase test is likely looking to see the impact on concurrent runoff of existing higher-rate balances (which doesn’t apply to the surfers) and on whether the policy is accelerating delinquency rates among at-risk cardholders (those with lower FICO scores).

Rewash the governance

September 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:What is the rememdy to the prevailing global economy? | www.oecdobserver.org

All nations in the world, have to necessarily rewash the system of governance. Much of corruption, anti-economical trend, inflation, etc. are the affecting factors. This has to be cleansed. This can be done only through spiritual understanding and logical well being.

Daniel LintzPresident & Chief Executive OfficerSafe Harbour Japan K.K.

New Financial Services Minister Puts Hatoyama Gov't in the Hot Seat

September 25, 2009

Analysis of:Kamei To Seek Banking Assn Chief's Support For Borrower Relief | www.nni.nikkei.co.jp

Next week's meeting between Japan's Minister of Financial Affairs and the Chairman of the Japanese Bankers Association provides the first stress-test for the survivability of Japan's newly elected DPJ led coalition government.

A Straw In The Prairie Wind?

September 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:Landmark Decision: Massive Relief for Homeowners and Trouble for the Banks | bit.ly

The Kansas Supreme Court has made it much harder to foreclose on a securitized mortgage.If upheld on the inevitable appeal this could have a disastrous effect on bank capital.The only slightly better news is that without mortgage payments, some people will consume more.The magnitude of this decision, if it is upheld, if it becomes law anywhere beside Kansas, is hard to overstate.

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