Friday, February 26, 2010
Transparency creates stability in financial markets… this is a foundational precept of our system but is rarely argued… the following is from a speech by CFTC Chairman Gensler to the “Energy Bar Association” on February 24th…
~~~ Transparent Trading Requirement
“… It is not enough, though, simply to promote transparency to the regulators.
Financial reform will be incomplete [...]
“It is not chance that rules the world, witness the Romans, who had a constant succession of triumphs while they managed their Government on a certain plan, and an uninterrupted series of reverses when it was conducted on another.
There are general causes, either moral or physical, at work in every monarchy, exalting, maintaining or overcoming it.”
The [...]
Wednesday, February 3, 2010
From a recently published academic paper: “Populist Retribution and International Competition in Financial Services Regulation”
Adam C. Pritchard
University of Michigan Law School
~~~ “… The bottom line for Roosevelt was that populist anger against the bankers provided him with the political capital he needed to fundamentally reshape the financial sector in the United States.
Roosevelt succeeded in breaking [...]
Friday, December 11, 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 economy [...]
Tuesday, November 10, 2009
Senate Banking Committee Chairman Christopher Dodd released his version of legislation to reform the financial system today. Here are the summary and full draft.
Dodd bill summary link
HIGHLIGHTS OF THE DISCUSSION DRAFT
Consumer Financial Protection Agency:
Creates an independent watchdog to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and [...]
Tuesday, November 3, 2009
From The Hill:
~~~ “Sen. Maria Cantwell said that she’s “not sure” why Treasury Secretary Tim Geithner still has a job as of Monday morning.
Cantwell (D-Wash.) ripped into the financial reforms put forth by Geithner and the Obama administration as “appalling” for including alleged loopholes and exemptions for large financial institutions in legislation overhauling the [...]