Once he had driven up Commercial Credit shares, Weill was in a position to look for other targets.
Over the short term, China's chances of getting fresh commercial credit are close to zero.
Weill grabbed hold of sleepy consumer finance company Commercial Credit and used it as his vehicle for conquering the banking industry.
With vast, hugely overstaffed branch networks and far weaker balance sheets, cutting costs and instituting a commercial credit-culture will be a gigantic task.
Driving hard bargains all the way, he has acquired at one time or another such financial brand names as Travelers Insurance, Shearson Hammill, Hayden Stone, Smith Barney, Commercial Credit, Loeb Rhoades, Salomon Bros. and finally Citicorp.
Real estate and commercial credit analyst Kenneth J.
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When Weill and a small band of associates took over Commercial Credit , a mediocre finance company in Baltimore, the tale of infusing its branch managers with the spirit of personal entrepreneurship is a model of dynamically growing a tired franchise.
His experience dates from 1986, when, in conjunction with his former boss at American Express, Sandy Weill, he took over Commercial Credit, a firm that specialised in making expensive loans to people who could not, or would not, use a bank.
Weill, who built the company in a series of acquisitions starting in the late 1980s, when he rescued a little Baltimore commercial credit firm, said the financial conglomerate model now under fire at Citi and elsewhere is a solid model and worth fighting for.
"The fact that the government thinks it's OK to hang an amount of debt equivalent to a small mortgage over someone's head while they study is one thing, but leaving young people reliant on commercial credit just to stay in education is scandalous, " he said.
Full transparency and data disclosure of these commercial and credit transactions are now required so that the Western democracies can coordinate the selective use of economic and financial leverage to press for real reform and transformation of the East bloc societies to a path of democracy and free markets.
But it would be just like any credit facility in a commercial market -- a credit line that you can draw from.
The Wealth Management segment includes wealth management products and services such as trust activities, commercial insurance and credit related products, and investment management.
If the credit squeeze spreads and borrowing becomes harder, not just for housing but across other parts of the debt markets (such as commercial property or credit cards) money-market funds could withdraw even further from lending to banks.
Instead, it had to be backstopped by ironclad lines of credit at commercial banks.
While revolving credit at commercial banks increased 1.7% annualized, in December, it retreated a worrisome 19.7% annualized, in January.
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Instead, the markets came up with the right reform: Such paper had to be backed by ironclad lines of credit from commercial banks.
Banks have been curtailing backup lines of credit for commercial paper.
Small-business owners still struggle landing credit from commercial banks.
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Small regional banks, less diversified than their larger brethren and more exposed to riskier asset classes such as home-equity lines of credit and commercial real estate, are most at risk of running out of capital-raising options.
How is any U.S. taxpayer credit and commercial exposure to the USSR justified, given the urgent capital and trade requirements of South and Central America, Africa, Eastern Europe and other countries many of which have already made the transition to democracy and market oriented economies?
Because it involves something that the Bank of England and orthodox central banks almost never do - which is to lend money with the express purpose of getting it out into the real economy, rather than just providing the marginal credit that commercial banks need to operate efficiently.
In particular, a financial aid package for Poland should avoid transferring credit risk from private commercial banks to Western governments and taxpayers as a way of covering and thereby encouraging loans from private credit markets.
Small-business loans track the prime rate--the rate at which banks make loans to their most credit-worthy commercial customers.
As with the residential market, credit for buying commercial property has tightened.
The problem with this Fed solution is that banks saw no reason to make commercial loans where they had credit risk and had to actually work for their money.
He said today that the Fed would begin buying commercial paper in hopes of thawing credit markets.
Whatever breaks commercial banks get from government, credit unions get more, in the form of favorable taxation.
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There is no shortage of commercial loans nowadays for competent, credit-worthy farmers.
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