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Tag Archives: Federal Reserve

Our English cousins lay it out…

The House of Commons Treasury Committee Ninth Report of Session 2009–10 Report, together with formal minutes Ordered by the House of Commons, to be published 22 March 2010 Too important to fail– too important to ignore Summary The banking crisis of the last two years resulted in government support for the sector around the world amounting to almost a […]

AIG’s CDO stuffing

William Cohan, author of “House of Cards” and a Bloomberg Television contributing editor, talks with Deirdre Bolton and Erik Schatzker about how collateralized debt obligations helped drive American International Group Inc. to the brink of disaster. Also today the Federal Reserve released the details of the Maiden Lane holdings… which includes the dreck described in […]

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, […]

Summary of amendments to the March Dodd draft

US Senate Financial Reform Managers Amendment Summary, March 23, 2010 View more documents from catelong.

Summary of amendments to the Dodd draft

Amendments to Dodd bill – HT — Shahien at Huffpo

Volcker, Bernanke and central bank authorities and conflicts

I’m attending a hearing of the House Financial Services Committee today. Ben Bernake and Paul Volcker will testify to the House of Representatives on “Examining the Link Between Fed Bank Supervision and Monetary Policy.” I have a fundamental question about how the Federal Reserve separates it’s oversight and dealings with Wall Street from it’s public stewardship of the nations economy. […]

Unraveling the profit puzzle at Goldman Sachs I

From PBS’s Lehrer show… ” As part of his continuing series of reports making sense of business and the economy, Paul Solman examines the inner workings of investment powerhouse Goldman Sachs and how it makes money.”

California is 1/8 the economy

From Jesse’s Cafe a useful view into the relative contribution of states to GDP… Who will backstop California?

Drive the algos overseas…

The Chicago Fed has published a short paper on high frequency trading… makes you wonder how much economic activity this trading represents for the Chicago area… The fundamental issues around high frequency trading are systemic risk and investor fairness. Unfortunately this paper doesn’t address either one of those issues… From the conclusion of the paper “Controlling risk […]

Fails to deliver

Bloomberg’s Brian Luke reports on the outlook for the U.S. mortgage-bond market. (running time = 1:40 minutes) Fails to deliver are a problem that the Fed have not addressed since the giant daisy chain fails problem after 9/11… Primary dealers…  financial market utilities…