Coleman Research Group’s Business and Financial Services Group facilitates consultations between our clients (institutional investors) and leading business and financial services professionals on a wide variety of topics including consumer credit trends, banking and investment services, insurance, residential and commercial real estate, student lending, and regulatory issues.
Our Business & Financial network includes an elite assembly of current and former CFOs and senior executives, accountants, former regulatory officials, academics, and top-level industry consultants.
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Oversight Panel Pushes for New Bank Stress Tests
The stress tests conducted on the largest U.S. banks should be repeated with updated figures, The Congressional Oversight Panel said.
The committee headed by Harvard Law School professor Elizabeth Warren, which oversees the $700 billion financial bailout package passed in October, said the stress tests ordered by the U.S. Treasury, evaluated banks' health against the possibility of unemployment rising to 8.9 percent. In May, the Department of Labor said unemployment exceeded that, rising to 9.4 percent, calling the results into question, a report to be released Tuesday said.
The panel said the stress tests were helpful, but lacked transparency on how they were conducted, The Washington Post reported.
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Supreme Court Temporarily Blocks Chrysler Sale to Fiat
The U.S. Supreme Court on Monday temporarily blocked the sale of Chrysler LLC's assets to a new partnership with Fiat SpA, the first unexpected delay in the automaker's bankruptcy stage-managed by the Obama administration.
The one-page order by Supreme Court Justice Ruth Bader Ginsburg stopped the sale "pending further order" by her or the full court, based on an appeal by three Indiana pension funds holding $45 million in Chrysler's secured loans. Ginsburg gave no time frame for when those next orders might arrive.
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