This is a bit of a surprise with all directions pointing to increased capital requirements. 33% of banks have gone to the market to raise capital or will go to market to raise capital | Grant Thornton CHICAGO, June 24, 2010 – According to Grant Thornton LLP’s 17th Bank Executive Survey, conducted in conjunction with Bank Director magazine, one-third (33%) of bankers said that their bank was very likely to go the market to raise capital in the next 12 months (22%) or has already successfully gone to the market to raise capital (11%). Technorati Tags: banks,capital,regulation,grant thornton Continue reading Few banks are going to market to raise capital

For economic wonks here is a lengthy and broad interview this morning with Larry Summers. He paints a positive picture that America has turned the corner, is producing jobs, and progressing well.  On the question of stimulus versus consolidation, he makes the point that a country with growth has a greater chance of being in control of its own destiny.  He notes that non growth countries find it very hard to maintain a positive financial picture (alluding to Japan). He talks specifically about the origins of G20 and how he and Paul Martin were the originals in setting that up. … Continue reading Chrystia Freeland interviews Larry Summers

Turns out the shaking felt at this conference at 1:45pm EST was a 5.5 earthquake centred in Quebec.  Some of my leftie colleagues are already blaming Stephen Harper and of course George Bush even though the latter is not at this G20.             Technorati Tags: earthquake,G20 Continue reading Not a good time to be beneath a large chandelier!

Live from “Making the Case for Global Economic Governance”, a Friedrich-Ebert-Stiftung and Munk School of Global Affairs sponsored pre G20 conference here in Toronto. Speaking now is Jomo Kwame Sundaram, Assistant Secretary-General for Economic Development, Department of Economic and Social Affairs, United Nations, and facilitated by Chrystia Freeland, Global Editor at Large, Thompson Reuters.  His role is the link on economic affairs between the G20 and the UN.  [Note Paul Martin remains in the audience listening.] Broadly he is making the case that the thing to be feared is deflation, and that the amount of stimulus that has occurred is … Continue reading G20 and the UN

Thanks to the Financial Brand and Ron for this.  They had a good thing going with the green chair and the old guys.  Now this out of the blue green.  Words fail me.  Maybe Ron made this up? A press conference staged for the introduction of “TD,” the bank’s new mascot. If there were indeed that many reporters at the event with their hands raised anxiously, the number one question was likely to be, “What the heck is it?” Technorati Tags: TD Continue reading TD loses it