Special Report: Banking & Finance Quarterly

URL += "&id="+DMNETsession+"&url="+escape(DMNETpage) + "&ref="+escape(document.referrer)+"&lng=" + ((!document.all || navigator.userAgent.match('Opera')) ? Here’s the bad news: L.A.’s banks have had a year they would like to forget.Here’s the sort-of-good news: The banks have learned a lesson they’re not about to forget anytime soon – and they’re changing their ways, fast.Wracked by the mortgage crisis, credit crunch and now an economic downturn, most of L.A.’s banks have taken sharp hits to their bottom lines. Many have posted losses, while others have watched their share prices wither.Even L.A.’s smaller community banks, which had expected to ride out the storm because they didn’t make the riskiest home loans, are now feeling the pain.“This will be a time that most of us in the industry will forever remember,” said Robert Sweeney, president of L.A.-based Far East National Bank. “When you have some institutions where you know the management teams well and you watch their market valu...
Originally from: http://www.labusinessjournal.com/article.asp?aID=5650265.3292155.1647815.3648127.2281747.165&aID2=126746

21.7.08 13:15

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RestOFTheMovie / Website (13.8.08 09:16)
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