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 [...]
Filed in Launching..., Liquidity, Restructuring
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Also tagged break up banks, crisis, Federal Reserve, global hot money, Lehman, NY Fed, Obama, Treasury, Wall Street
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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 [...]
Wednesday, April 21, 2010
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…
Filed in Launching..., Open engines, Recession busters..., Regulatory, Restructuring
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Also tagged BofA, break up banks, Congress, Goldman Sachs, JP Morgan, too big to fail, Wall Street
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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 [...]
Filed in Launching..., Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged break up banks, Congress, narrow bank, regulatory abritrage, Regulatory capture, Wall Street, Washington
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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, [...]
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 [...]
Sunday, February 14, 2010
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 [...]
Filed in Creativity, Launching..., Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged Congress, Glass Steagall, Obama, risk, TARP, unrest
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Saturday, February 13, 2010
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 [...]
Wednesday, February 10, 2010
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 [...]