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Tag Archives: break up the banks

Kite flying

From FT Alphaville some comments from Tullett Prebon economist Lena Komileva on the similarities and differences between the growing Euro sovereign contengion and Lehman’s collapse… Basically she’s saying it’s an order of magnitude bigger this time… or maybe two orders of magnitude… ~~~ “…The current episode of the global crisis is similar to the crisis mechanism […]

Wall Street banker says “we are close to getting it over the finish line”

From the beginning of the financial reform process it seemed that the goal of the Obama administration and the Senate was to accommodate Wall Street… And here is Barclays President Robert Diamond expressing his pleasure with the legislation.  In fact Wall Street loves it except for Blanche Lincoln’s derivatives legislation… Sorry America… maintenance of the status quo trumps […]

Protect taxpayers and break up the banks

Vermont Senator Bernie Sanders, says “the issue is not whether Congress regulates Wall Street, it’s the degree to which Wall Street regulates Congress.” Time to break up the banks…

Financial overhaul could create financial utilities

Matthew McCormick, a portfolio manager at Bahl & Gaynor Inc., talks about the prospects for legislation to overhaul U.S. financial regulation and the implications for financial stocks. *  *  * Let’s move away from the shadow banking system and go to a new place > > > Narrow banking is a proposed type of bank […]

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 […]

Spreadsheet of amendments to the Dodd draft

 

Populism VI

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Elizabeth Warren www.thedailyshow.com Daily Show Full Episodes Political Humor Health Care Crisis 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 […]

Greece’s baby steps and Blanchard’s grand new solution

From Bloomberg: Fitch’s Rawkins says EU failed to ease Greek debt crisis … Mr. Rawkins says about Greece’s fiscal actions … “The problem with all those measures is that they take time…” Yes… when governments make fiscal adjustments it generally takes numerous quarters or years for the effects to have an impact on the economy… (of course […]

Populism IV

Repost from the Huffington Post: New Mexico House Votes 65-0 To Move State’s Money To Credit Unions, Community Banks ~~~ “New Mexico’s House of Representatives voted Monday to pass a bill that allows the state to move $2 billion – $5 billion of state funds to credit unions and small banks. The municipal funds bill was […]