“Hey Hoss… we gotta ride up to the Hill and ’splain about that little problem last March when that big ol Bear came round…”
“Nah… not them ‘ol snakediggers again… I think we should just keep on riding… we’re in the middle of a big storm and there ain’t time to be fooling around…”
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Civility […]
WSJ.com
What the SEC Really Did on Short Selling
By CHRISTOPHER COX July 24, 2008; Page A15
~~~~ ” The Federal Reserve’s decisions to offer credit to its 18 primary dealers — and to extend these credit facilities to Fannie Mae and Freddie Mac, complementing the recent Treasury proposal for authority to back their debt and buy their equity […]
*** I’m usually pretty alert to matters that relate to the regulation of credit rating agencies… so how did I miss the release of the SEC’s Annual Report to Congress under Section 6 of the Credit Rating Agency Reform Act of 2006?
I found it on the NRSRO page of the SEC site while working on […]
Given the size of the recent fiscal stimulus, ~ $ 150 billion, why should we worry about the possible cost of the GSE rescue plan?
It’s estimated at $ 25 billion… pocket change… actually I wish we could see other analysis of the cost…
Acting Under Secretary for Domestic Finance Anthony Ryan Remarks on Effective Capital Markets and Market Discipline….
~~~~ ” …. There also is a need to move forward on a longer-term, strategic basis. Treasury released a Blueprint for Financial Regulatory Reform in March 2008. The current U.S. regulatory structure is not optimally positioned to address the […]
What a lovely week… the MSRB began outbound communication today of actions reviewed and taken by its Board of Directors … kudos… http://www.msrb.org/
~~~~ “The Municipal Securities Rulemaking Board would like to provide dealers and other interested parties with information about actions taken by the Board at its quarterly meetings. Beginning today, the MSRB will post […]
The SEC is seeking comment on the issue of credit rating agencies reporting their “default statistics”. As part of the new round of rulemaking the Commission has elevated the importance of default statistics as a public measure of the accuracy and reliability of credit ratings… ”show us the proof” …
This is vital for the continued central place that ratings provide in […]
This is what happens when I spend most of the day studying SEC proposed rules on credit ratings…
www.wordle.net
From BBG… S&P’s interesting proposal to include “ratings stability” as a factor in the assignment of a rating for structured finance…
~~~~ ” Standard & Poor’s is seeking comment on a proposal that may make it impossible for some structured finance products to receive top credit ratings, reining in part of a market that has […]
The opposite of “regulatory arbitrage” is “regulatory competition”… yes we saw plenty of that today… and it’s healthy… although I can’t imagine being one of the players… executive or legislative … it was like sitting in the Roman Colosseum … the action was in the Senate, House and the financial markets…
The Senate Banking Committee hosted […]
