News and Events:
Find out the latest news and events around Convergex Caribbean:
Closing out the year comments
Added 12/5/2011
If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
The big banks in New York and London, once considered to be the strongest and most stable in the world, have been completely exposed for what they are-- weak, toxic, and generally unhelpful, as they sit on their hands – lending to no one. If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Between sub-prime debt, shaky sovereign bonds, and uncertain consumer loans, most of these banks are sitting on incalculable losses. They get around disclosing their true financial condition by using clever accounting tricks (which are completely legal thanks to government regulators). If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
As such, they can go on borrowing money from the U.S. Federal Reserve at 0% and lending it to the US government at 2%-- a practice that has essentially become the banks' core business.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
If you haven't noticed, most banks hardly lend against anything that isn't guaranteed by the government anymore. A Fannie Mae conforming loan is, unbelievably, a no-brainer, but making a small business loan is a non-starter!If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Need some perspective? Try this: In terms of regional profitability, Latin American banks lead the world with an average return on capital of 27.09%. This is more than twice as high as North American banks (11.16%) and European banks (8.5%). Yet, just last week, our Fed bailed those European banks out with U.S. Taxpayer dollars.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
In our opinion, that money would have been better spent if it had been made available to small businesses, in order to create jobs here, where we need them.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
A last word about private capital – virtually the last refuge of the small business borrower: most private capitalists today have only made their investment funds available in the last 30 to 40 years. So what? Just because a bank has been around for a hundred years doesn't mean it can't simply sit on its share of so-called “stimulus money”. Just because there's a government guarantee doesn't mean they’re willing to risk a dime of that money… or that they’re not completely capable of collapsing.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Private capital will still be king in 2012.
Added 12/5/2011
If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
The big banks in New York and London, once considered to be the strongest and most stable in the world, have been completely exposed for what they are-- weak, toxic, and generally unhelpful, as they sit on their hands – lending to no one. If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Between sub-prime debt, shaky sovereign bonds, and uncertain consumer loans, most of these banks are sitting on incalculable losses. They get around disclosing their true financial condition by using clever accounting tricks (which are completely legal thanks to government regulators). If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
As such, they can go on borrowing money from the U.S. Federal Reserve at 0% and lending it to the US government at 2%-- a practice that has essentially become the banks' core business.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
If you haven't noticed, most banks hardly lend against anything that isn't guaranteed by the government anymore. A Fannie Mae conforming loan is, unbelievably, a no-brainer, but making a small business loan is a non-starter!If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Need some perspective? Try this: In terms of regional profitability, Latin American banks lead the world with an average return on capital of 27.09%. This is more than twice as high as North American banks (11.16%) and European banks (8.5%). Yet, just last week, our Fed bailed those European banks out with U.S. Taxpayer dollars.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
In our opinion, that money would have been better spent if it had been made available to small businesses, in order to create jobs here, where we need them.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
A last word about private capital – virtually the last refuge of the small business borrower: most private capitalists today have only made their investment funds available in the last 30 to 40 years. So what? Just because a bank has been around for a hundred years doesn't mean it can't simply sit on its share of so-called “stimulus money”. Just because there's a government guarantee doesn't mean they’re willing to risk a dime of that money… or that they’re not completely capable of collapsing.If the global financial crisis has taught the world anything, it's that there is massive weakness running through western banking systems.
Private capital will still be king in 2012.
Convergex's Client Relations Director meets with former Defense Secretary Donald Rumsfeld
Added 9/30/2011
Convergex's Client Relations Director, Ruben Reyes, met last evening (September 27th) with former Defense Secretary Donald Rumsfeld at the historic City Tavern Club in Georgetown, Washington, DC. - (visit: www.citytavernclubdc.org). The two discussed Secretary Rumsfeld's new book: "Known and Unknown - A Memoir", as well as economic and financial matters.
Added 9/30/2011
Convergex's Client Relations Director, Ruben Reyes, met last evening (September 27th) with former Defense Secretary Donald Rumsfeld at the historic City Tavern Club in Georgetown, Washington, DC. - (visit: www.citytavernclubdc.org). The two discussed Secretary Rumsfeld's new book: "Known and Unknown - A Memoir", as well as economic and financial matters.
Prince Frederick, MD Financial Services Company Expands Into New HQ
Added 7/6/2011
Convergex Caribbean, Limited – a Maryland, USA LLC and a Nassau, Bahamas IBC moved its U.S. headquarters location to more spacious offices in Prince Frederick, Maryland, last November. The move has proved to be a very positive one for the financial services company. Read More...
Added 7/6/2011
Convergex Caribbean, Limited – a Maryland, USA LLC and a Nassau, Bahamas IBC moved its U.S. headquarters location to more spacious offices in Prince Frederick, Maryland, last November. The move has proved to be a very positive one for the financial services company. Read More...
Fisher House Foundation
Added 5/12/2011
In order to honor our U.S. Military and to support military families, Convergex Caribbean will contribute US$100 to the Fisher House Foundation in the name of every Client that engages our services between May 1st and Memorial Day, May 30, 2011. Let's get together and show our gratitude to our wonderful troops!
Added 5/12/2011
In order to honor our U.S. Military and to support military families, Convergex Caribbean will contribute US$100 to the Fisher House Foundation in the name of every Client that engages our services between May 1st and Memorial Day, May 30, 2011. Let's get together and show our gratitude to our wonderful troops!