A summary of where we are in the legislative reform process of the financial system. [BTW: follow me on Twitter – cate_long — tweeting on the conference process) From an email announcement from the House Financial Services Committee: The Wall Street Reform Bill: Conference Update Washington –Last week was a successful week for the House [...]
Shahien Nasiripour of Huffington Post wrote a great story today about new language spotted in the FOMC meeting statement… and the pointed use of that language to send a message to the lawmakers who are deciding the new scope of the Fed’s authority… The Federal Reserve is arguing that it must maintain supervisory authority over [...]
Filed in Launching..., Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged audit the Fed, commercial banks, Congress, Federal Reserve, reform, Senate
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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 the [...]
From the IMF’s World Economic Outlook… “A Policy-Driven, Multispeed Recovery“… ~~~ “Driving the global rebound was the extraordinary amount of policy stimulus. Monetary policy has been highly expansionary, with interest rates down to record lows in most advanced and in many emerging economies, while central bank balance sheets expanded to unprecedented levels in key advanced [...]
Tuesday, December 29, 2009
Three cheers for Arrianna Huffington, political strategist Alexis McGill, filmmaker/author Eugene Jarecki, and Nick Penniman of the HuffPost Investigative Fund… for this great campaign to encourage everyone to move their banking to local banks and credit unions… From HuffPo — “The idea is simple: If enough people who have money in one of the big four [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged break up the banks, confidence, Congress, economic justice, economy, too big to fail, Wall Street
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Tuesday, December 1, 2009
Presentation slides[PDF] Speech by Adair Turner, Chairman, FSA British Embassy, Paris 30 November 2009 The financial crisis of 2007/08 was the worst for at least 70 years. Economic catastrophe was only prevented by extreme policy responses: even with these responses, the world has faced huge economic cost. We must therefore identify the root causes as [...]
Sunday, November 15, 2009
Visit msnbc.com for Breaking News, World News, and News about the Economy Reblog from Jesse’s Cafe…. ~~~”Obama has not lost his way. His team led by Summers and Geithner are making the same mistakes that they did in the formation of the first tech bubble in response to the Asian currency crisis and the Russian [...]
Saturday, November 14, 2009
Paul A. Volcker In Conversation with Gary H. Stern (President of the Minneapolis Fed), July, 2009 Can we get there? Stern: So, can we get from here to there, where commercial banks look much more like traditional commercial banks, and we leave things like proprietary trading and hedge fund activity and those kinds of things [...]