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Tag Archives: derivatives

You have banks “too large to regulate”, “too large to fail” and above the law

C.R. “Rusty” Cloutier, chief executive officer at MidSouth Bank, talks with Bloomberg’s Carol Massar about President Barack Obama’s proposal to limit U.S. banks’ size and trading activities. Cloutier also discusses the outlook for financial regulation. Mr. Cloutier debunks the argument that America needs massive banks to be globally competitive… America is being strangled by its […]

“The markets are becoming risky again, bankers are becoming risk-takers again,”

The efforts of global political officials to rein in the global banking elites are falling flat… President Obama held a meeting of Wall Street bankers at the White House and heads of several of the biggest banks pardoned their absence with weak excuses … Gordon Brown and Alistair Darling of the UK imposed a “banker bonus” tax […]

The bounds of derivatives regulation

The derivatives legislation adopted by the House of Representatives is a landmark… here is how Barney Franks’ staff describes the legislation: Overview Over-the-counter derivatives legislation for the first time addresses an unregulated part of the financial markets that poses a potential risk to the broader economy. This risk was more than apparent last year when […]

Clearinghouse concentration…

Finextra reports… ~~~”US House backs reforms to clearing house ownership rules … US lawmakers have approved a bill that will place a 20% limit on collective bank ownership of derivatives clearing houses, despite fierce opposition from financial industry participants. The US House voted 228-202 Thursday to incorporate the so-called Lynch Amendment into the forthcoming Wall […]

House pass H.R. 4173, Wall Street Reform and Consumer Protection Act of 2009

Kudos to all in the House who worked so hard on this measure. It marks an important milestone in the real recovery of America… and it’s very nice to see Chairman Frank smiling… Bloomberg reports… ~~~”The U.S. House voted to tighten rules for derivatives and create powers to break apart healthy financial firms that threaten the […]

`Fundamental Questions’ on Derivatives Plan

Hal Scott, a Harvard Law School professor and director of the Committee on Capital Markets Regulation, talks with Bloomberg’s Margaret Brennan about Treasury Secretary Tim Geithner’s plan to overhaul the financial regulatory system. Geithner was on Capitol Hill today to discuss proposals to revamp the way derivatives are regulated. He said the U.S. should require […]

Global hot money flows…

Taxing the Speculators by Paul Krugman 223. Cate Long Washington, DC November 27th, 2009 2:35 pm Outstanding column Professor Krugman: Taxing securities transaction already happens in the Unites State under SEC Section 31 fees. These fees for stocks and options are overseen by the SEC and administered by the exchanges and FINRA. Taxing options, derivatives […]

This is what reform sounds like… part II

Visit for Breaking News, World News, and News about the Economy Thank you  Chairman Gensler for your heavy lifting on derivatives reform. More on derivatives reform at Riski…

Taxing derivatives, excessive leverage and a jobs program

The conversations are just starting on Capitol Hill to impose a transaction tax on financial securities… Bloomberg reports that Steny Hoyer says it’s “on the table”… and Representatives like John Larson (CT – 1) want to use the tax to help get America restarted… yes… let’s get America restarted… taxing derivatives to create a jobs […]

A primer on managing interest rate risks for banks