Anyone can access their bank information depending on the level of depth that you want to research and pay for. Not sure, however, if the one company I am aware of, Bankrate.com is a private enterprise (even though they may be a monopoly) or not. But this company's objective has been a auditor of banks before these government authorities came in establishing stress tests that examine strength and longevity because of the supposed irresponsibility of the execs.Are there more companies that showcase knowledge of these banks assets and ratios publicly?
Not really sure, I just know of the one company that is internet based. But wouldn't it be better to let banks publicize information on their own?- What causes information to be limited for consumers?- The zoning of banks? Wasn't there a standard about how close banks or credit unions can be in approximation of each other? Tax breaks for some institutions (non profit)?
( Sounds like restrictions to me) These restrictions seem to be separating markets further than just geographic boundaries.
So, why is there protection in knowing that experts outside of the field especially in banking is a safe bet? What did we just go through with banks? Playing good cop- bad cop takes time, effort and for some reason more cost to those banks that are surviving. By interfering you are punishing many rather than separating those who took on more risk than what they could handle.
Strangely the government still wants to give funds to those banks that have had many losses with credit cards, commercial loaning, and mortgages. Why?
Banks that want to be secure on their own grounds:
"Many banks are reluctant to sell their nonperforming loans because they could suffer big losses, forcing them to raise more capital. Others want to avoid the stigma of latching on to another federal program."“Never mind the price,” James E. Rohr, PNC’s chief, said in a recent interview. “I would’t want to be the first person and be perceived as a weak bank.”
D. Bryan Jordan, the chief executive of First Horizon, a big lender based in Tennessee, said the likelihood that his bank would participate was somewhat low. “We think we can get a lot more value out of them by working them out ourselves,” he said earlier this month in a conference call about first-quarter results.
There are still banks accepting the idea of government funding..
Funding comes with a price tag- whether the cost comes from an attorney checking out the package and not missing details that creates more risk to the firm; the future restraints that government can place on the industry b/c of its share in the market;time to make changes independently; and the reduction of economic growth.