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Sept 18 (Reuters) - Cadence Bank (CADE.N) CEO Dan Rollins calls the regional banking crisis from earlier this year "March madness." Interviews with half a dozen regional bank executives and economists show the March banking crisis has had a lasting impact on the regional banking industry and the economy. Torsten Slok, chief economist at Apollo Global Management, said the banking crisis had "a magnifying effect" on the Fed's tightening but its full impact would come with a lag. The failure triggered a crisis of confidence, with depositors moving their money from regional banks to the perceived safety of the largest lenders. The KBW Regional Bank Index (.KRX) is down about 20% since early March despite a summer rebound.

Persons: Dan Rollins, Rollins, Mark Zandi, ”, Zandi, Torsten Slok, Slok, Cadence's Rollins, Steve Wyett, Wyett, Banks, Cadence’s Rollins, Randy Chesler, Chesler, Moody's Zandi, Jeff Jackson, Raj Singh, Singh, Paritosh Bansal, Anna Driver Organizations: Cadence Bank, Moody’s, Apollo Global Management, Bank, Reuters Graphics, Valley, Regional, BOK, Federal, Loan, Thomson Locations: . Federal, Silicon, Tulsa , Oklahoma, Kalispell , Montana, Wheeling , West Virginia

☆ You’d Go to Prison for What Hunter Biden Did
▼ + stars: | 2023-07-26 | by ( Eileen J. O Connor | ) www.wsj.com time to read: +1 min

Review and Outlook: Under oath, IRS agents Gary Shapley and Joseph Ziegler say their attempt to investigate Hunter Biden faced unprecedented meddling from the Justice Department. Will Attorney General Merrick Garland and Delaware U.S. Attorney David Weiss respond? Images: Bloomberg News/Getty Images Composite: Mark KellyWhile the U.S. attorney for Delaware was negotiating for Hunter Biden to plead to two misdemeanor tax charges, other things were happening in neighboring New Jersey. Last week U.S. District Judge Stanley R. Chesler sentenced Gabriel M. Ferrari, owner of a Linden auto-repair shop, to one year and one day in prison after Mr. Ferrari pleaded guilty to filing a false company tax return. In addition to the prison term, he will be required to pay restitution.

Persons: Gary Shapley, Joseph Ziegler, Hunter Biden, General Merrick Garland, David Weiss, Mark Kelly, District Judge Stanley R, Chesler, Gabriel M, Ferrari Organizations: Justice Department, Will, Delaware U.S, Bloomberg, U.S, District Locations: Delaware, U.S, New Jersey

☆ Musk says he was focused on reviving Tesla, defends $56 billion pay
▼ + stars: | 2022-11-16 | by ( Tom Hals | Hyunjoo Jin | ) www.reuters.com time to read: +4 min

Elon Musk, Chief Executive Officer (CEO) of SpaceX, Tesla and Twitter, arrives to a trial regarding his Tesla pay package at the Delaware Court of Chancery in Wilmington, Delaware, U.S., November 16, 2022. Tesla shareholder Richard Tornetta sued Musk and the board in 2018 and hopes to prove that Musk used his dominance over Tesla’s board to dictate terms of the package, which did not require him to work at Tesla full-time. Musk, the world’s richest person, described how the automaker was struggling to survive in 2017, when the pay package was developed. The legal team for Musk and the Tesla directors have cast the pay package as a set of audacious goals that worked by driving 10-fold growth in Tesla’s stock value, to more than $600 billion from around $50 billion. The disputed Tesla package allows Musk to buy 1% of Tesla’s stock at a deep discount each time escalating performance and financial targets are met.

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