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¶ … Banks Find New Ways to Ease Pain of Bad Loans describes the various ways banks holding large amounts of bad, or soon to be bad loans are, in effect, hiding these bad assets. For instance Astoria Financial Corp. extended the number of payments a customer had to miss before the loan would be listed as "nonperforming." By extending the number of missed payments from two to three, Astoria wiped close to $40 million off it's books. Well Fargo did a similar thing by extending the number of days a customer had to miss payments from 120 to 180 before writing these loans off. Bank Atlantic Bancorp tried something a bit different, they created an entirely new subsidiary and transferred $100 million of troubled loans to this new subsidiary. They managed to simply erase the bad loans from their books while avoiding federal regulators by creating a new subsidiary that was not regulated by the federal regulators. In the case of Colonial Bancgroup, they simply changed their...
This avoided federal regulators who were considered to be more antagonistic and switched regulatory responsibility to state regulators. While these financial maneuvers may have been legal under GAAP guidelines, it is likely that these financial institutions simply found loopholes in the regulations; and whether it was right or not will be decided by the company's stockholders.
The following financial institutions may have found a way to remove bad loans from their books, or even avoid federal regulators, but they did not solved the fundamental problems created by these loans. Redefining terms and running away from regulators will not pay off these loans, it will only hide them from stockholders and regulators. Even if one redefining the terms of a loan, it only delays the time when it is finally defaulted on, but it still comes eventually. While these institutions insist they are…
There are some generalizations from the survey that are useful in the sense that they offer solid social reasons why pastors should be in touch with today's unmarried parents, in order to provide services for them outside their attendance for Sunday sermons: one, unmarried parents are "twice as likely to live below the poverty line as married parents"; two, unmarried parents are "twice as likely to have dropped out of
Animal Rights The amount of heed to be given regarding the rights of animals has remained to be a heated argument these past few years due to the new, innovative ways of people and their treatment of animals in various situations. The most common concern of those worried about animals is the method of scientists to test products on animals to see how successful they are and whether the products may
In order to get various information for comparative analysis, several online databases will be explored so that the scientific data and social factors that will be unearthed are factual enough and relevant to the study of obesity among teenagers. The publication year was used from 2000 to present. This is because the researcher can be access to the best data. Also, this period has showed the fast economic development that
Labeling white collar crime is a mystery. A shared misapprehension of white collar crime is that, like pornography, it is hard to describe, however a lot of people would recognize it when they understood it. The only thing concerning white collar crime is that no profession is excused or unaffected by it (Geis, 2002). A person just needs to pick up the paper, observe the news, or go on
Soft Systems Techniques in the Preparation of Information Technology as a Systems Manager Company Systems Consulting process and model Systems approach, client relationships Company Culture Client defenses, attachments to existing systems Interaction with the company culture in order to facilitate change System and Culture working together Dependancy issues Lewin Company Systems Consulting process and model Systems approach, client relationships Company Culture Client defenses, attachments to existing systems Interaction with the company culture in order to facilitate change System and Culture working together Dependency issues Lewin's model of
Third is a series of passwords and personal information chosen by the customer. On top of this they guarantee customers that if they are victims of fraudulent activity on their Egg accounts, any losses are covered in full. "This has never happened," says Andrew. "There has never been any breach of internet security." ("- -- : Safety Net for" 2001:44) Again internet and bank security are largely overexagertated yet they