Friday, February 26, 2010
Transparency creates stability in financial markets… this is a foundational precept of our system but is rarely argued… the following is from a speech by CFTC Chairman Gensler to the “Energy Bar Association” on February 24th…
~~~ Transparent Trading Requirement
“… It is not enough, though, simply to promote transparency to the regulators.
Financial reform will be incomplete [...]
Filed in Liquidity, Open engines, Pricing, Regulatory, Restructuring, Trading, Transparency
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Tagged CFTC, derivatives, market structure, OTC, reform
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Wednesday, February 24, 2010
Repost from Finance Tangent … ~~~ The looming budget crisis affecting states like Arizona, California, Illinois and others, is prompting leaders to look at any option to raise money. Case in point is California that recently put up 17 commercial buildings for sale, including two San Francisco buildings that house the state supreme court [...]
Tuesday, February 23, 2010
SEC Commissioner Elisse Walter commented on a New York Times blog about the need to harmonize the “fiduciary“ obligations of brokers and investment advisors…
What a great way for an official charged with protecting investors to address an issue… in the public.. in plain English no less… kudos to Commissioner Walter for her efforts… restoring Americans [...]
Sunday, February 21, 2010
From The Harvard Law School Forum on Corporate Governance and Financial Regulation
Luis A. Aguilar is a Commissioner at the U.S. Securities and Exchange Commission.
This post is based on Commissioner Aguilar’s remarks at the recent SEC Speaks conference.
~~~ ” … The recent crisis made clear that the financial sector was, and remains, dangerously exposed to firms that are [...]
Thursday, February 18, 2010
Paul Solman of PBS talks to Bill Black, a former bank regulator, about recurrent bank fraud… the still unanswered question is why has no one been prosecuted for financial crimes… I believe this question will increase in importance… Americans have suffered too much and borne too high a price in this crisis… people caused [...]
Tuesday, February 16, 2010
Standard and Poor’s will begin using an identifier to distinguish between their ratings on structured finance products and other ratings… this is a good step forward for the markets… (H/T Credit Risk Chronicles)
~~~”As market participants will be aware, under the European Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009) in force from December 2009 (the [...]
Tuesday, February 16, 2010
Repost from the Heritage Foundation blog… imagine… the idea of “servant leadership“…
~~~ Yesterday’s Rasmussen poll reveals what anyone who has been watching the news for the past year already knows — Americans are angry. They are angry at their government and its failures to provide solutions to the current problems. According to today’s poll, 75% [...]
Tuesday, February 16, 2010
The struggles that Greece is facing to reform it’s fiscal situation are ones that Portugal, Italy, the UK, California, Illinois, New Jersey and others will face… substantial debt loads with diminishing revenue sources and large social commitments… we’ll see this story be replayed over and over… and that doesn’t even take into account the potential [...]
Sunday, February 14, 2010
The Daily Show With Jon Stewart
Mon - Thurs 11p / 10c
Elizabeth Warren
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Elizabeth Warren, chairman of the Congressional Oversight Panel, explains the kabuki going on in the Senate over financial reform to Jon Stewart of the Daily Show … she says write your Senator and tell them we must have strong [...]
Filed in Creativity, Launching..., Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Tagged break up the banks, Congress, Glass Steagall, Obama, risk, TARP, unrest
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Saturday, February 13, 2010
The bits and pieces are being assembled into a mosaic which is revealing the true enablers of the global credit crisis…
And it’s the trading houses like Goldman Sachs who created financial products, sold them off and then bet against the products they originally created… and often these bits of wizardry were designed to live off [...]