Monday March 9 | Charlotte’s Big Banks

March 9, 2009 at 7:44 am | Posted in Coming Up | 2 Comments

Charlotte has been known as a banking town for many years but our two largest banks, Bank of America and Wachovia, have undergone turbulent times recently. We’ll take a close look at our signature banks to see how they are faring in the face of economic assaults from the global economy and from historic challenges within their own organizations.
Mark Vitner – Director and Chief Economist, Wachovia
Will Boye – Staff Writer, Charlotte Business Journal
Tony Plath – Professor of Finance, UNC Charlotte

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  1. High guys,
    A friend brought this up yesterday. If credit default swaps are unregulated and can be used by I guess by anyone or any organization are there multiple CDS’s issued on many financial packages? Or could this happen? CDS”s where deregulated in 2000 I think.
    Thanks Mike.

  2. Mike Hall: Anything unregulated is duplicitous in its multiplicities.
    The crucial question is: Why do taxpayers have to cover gambling markers?

    Tony Platt: If you “don’t know nuthin” why do you squeeze through the media door like a cold dog?

    Mike Collins: Should we be “patriotic” about the demise of Charlotte?
    Or should we change its name to Sweetspot?

    The undiscussed issue was the ability of BofA to keep the names of Merrill Lynch bonus recipients confidential. If government auditors can’t make that information public then how will they ever be able to “stress test” any bank? Corporate constitutional rights seem to trump all examinations (privacy of publicly traded private property?) so that actuality can only emerge (Enron accounting, with spinoffs and off-shores)when a collapse happens.

    Bottom line: If this show were meant to assuage fears, it was an utter and complete failure. And if this show were meant to inform it only obscured. Another puzzlement then arises: What is the agenda or purpose of Charlotte Talks and are unseen forces shaping production choices.

    As always Mike was curious, eloquent and energetic. It seems to me though that an “Invisible Fence” has him well trained. I think he’ll start exploring when the power fails. (How was that Spring Show? Are you “green” yet?)

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