In what should be no surprise banks are cutting back on small business loans. Please consider CNN Money's Small business loans: $10 billion evaporates.  Eight months after President Obama began prodding the nation's banks to increase their small business lending the loan numbers continue to move in the opposite direction.The 22 banks that got the most help from the Treasury's bailout programs cut their small business loan balances by a collective $10.5 billion over the past six months according to a government report released Monday.Three of the 22 banks make no small business loans at all. Of the remaining ...

When my kids were little my wife and I would tell them: “Trust is like a LEGO tower. It takes a long time to build it up but only an instant to knock it down.”I was reminded of this today while watching Camden Fine the head of the Independent Community Bankers Association on CNBC this morning waving the book Big Bad Banks.In his 15 seconds of fame this morning Fine nailed current public opinion: Big banks are now bad.Now there are those who will say that these firms are finally getting their due. But before we dog pile the ...

When my kids were little my wife and I would tell them: “Trust is like a LEGO tower. It takes a long time to build it up but only an instant to knock it down.”I was reminded of this today while watching Camden Fine the head of the Independent Community Bankers Association on CNBC this morning waving the book Big Bad Banks.In his 15 seconds of fame this morning Fine nailed current public opinion: Big banks are now bad.Now there are those who will say that these firms are finally getting their due. But before we dog pile the ...

Recently the government’s Pay Czar Kenneth Feinberg “suggested” that outgoing Bank of America (BAC) CEO Ken Lewis should take home $0 in salary for 2009 and receive a bonus of exactly $0 when he steps down at the end of the year.This means Lewis 62 will be writing a check to the company for roughly $1 million in compensation he's received up to this point. Lewis agreed to the request. "Mr. Lewis…thought it wasn't in the best interest of Bank of America to get into a dispute with the paymaster " a Bank of America spokesman said in a ...

In 2005 Barron’s called him one of the 30 best CEOs in the world. Then Fortune placed his firm on its list of “Most Admired Companies”. One year later American Banker presented him with a lifetime achievement award. Angelo Mozilo the former boss of Countrywide Financial Corporation was once thought of as a business icon in this country with his camera-ready smile perma-tanned complexion and white-collared blue shirts. A hard charging relentless competitor the New York native earned a fortune and transformed the business he co-founded into a legendary powerhouse: America’s biggest mortgage lender.Today the bantam-sized Mozilo is a ...

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