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Monthly Archives: March 2010

AIG’s CDO stuffing

William Cohan, author of “House of Cards” and a Bloomberg Television contributing editor, talks with Deirdre Bolton and Erik Schatzker about how collateralized debt obligations helped drive American International Group Inc. to the brink of disaster. Also today the Federal Reserve released the details of the Maiden Lane holdings… which includes the dreck described in […]

Time to dismantle the banks

Repost from George Washington’s blog… ~~~ “On March 3rd, Richard Fisher – President of the Federal Reserve Bank of Dallas – told the Council on Foreign Relations: A truly effective restructuring of our regulatory regime will have to neutralize what I consider to be the greatest threat to our financial system’s stability—the so-called too-big-to-fail, or TBTF, […]

13 bankers and too big to fail

March 30 (Bloomberg) — Simon Johnson, a professor at the MIT Sloan School of Management, talks with Bloomberg’s Matt Miller about his new book “13 Bankers: The Wall Street Takeover and the Next Financial Meltdown.” From Publishers Weekly Though this blistering book identifies many causes of the recent financial crisis, from housing policy to minimum […]

Opening muni

Brilliance is so exciting… Welcome to OpenMuni By Philip Ashlock A tool for facilitating collaboration and cataloging case studies, best practices, and standards for open data and open source on the local level. OpenMuni is a resource to spread knowledge and connect localities to better provide open channels of information to improve quality of life, increase […]

Fitch announces recalibration of U.S. municipal ratings

Fitch Announces Recalibration of U.S. Municipal Bond Ratings NEW YORK–(BUSINESS WIRE)–Fitch Ratings is proceeding with the recalibration of certain of its U.S. Public Finance credit ratings. Fitch initially announced the initiative in July 2008, but suspended it in October of that year in the midst of the financial crisis. This recalibration will affect ratings in […]

So far the reformers of finance have neglected the shadow system

The parallel “shadow” banking system needs fixing: that should mean painful choices for money-market funds Mar 25th 2010 | From The Economist IF THEY were to film “It’s a Wonderful Life” today, the hero would probably not be a banker—and not just because of the optimistic title. The shape of finance has changed radically in the […]

Summary of amendments to the March Dodd draft

US Senate Financial Reform Managers Amendment Summary, March 23, 2010 View more documents from catelong.

Spreadsheet of amendments to the Dodd draft

 

Summary of amendments to the Dodd draft

Amendments to Dodd bill – HT — Shahien at Huffpo

Michigan

California bankruptcy ruling a precedent for Detroit Public Schools The Detroit News, July 31, 2009 Detroit — Detroit Public Schools, facing a $259 million deficit and diminishing cost-cutting options, has a recent California court ruling on its side as officials weigh Chapter 9, experts say. Chapter 9, a rarely used form of municipal bankruptcy, could […]