The House and Senate conferees worked hard to today to reconcile their versions of financial reform. Agreement was reached on private funds, insurance regulation and the merger of bank regulators. A sticking point was on Subtitle C of Title IX which covers credit rating agencies. I’d like to recommend to Chairman Barney Frank and others that they propose [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Regulatory, Restructuring, Transparency
|
Also tagged confidence, Congress, credit ratings, equivalent disclosure, Fitch, Moodys, NRSRO, Reg FD, Regulatory, S&P
|
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
|
Also tagged break up banks, break up the banks, Congress, narrow bank, Regulatory capture, Wall Street, Washington
|
Ross Levine and Glenn Loury of Brown University argue that the 2007-2009 financial crisis is repeat of the S&L crisis ”extend and pretend” treatment of bank solvency. Expect this to become a meme soon… cause it’s true… And another important critique of extend and pretend at ZeroHedge… a comparison to the Latin debt crisis and [...]
Filed in Liquidity, Open engines, Regulatory, Restructuring, Trading, Transparency
|
Also tagged credit, crisis, Geithner, Obama, prop trading, Regulatory capture, Summers, Volcker
|
Tuesday, February 16, 2010
Standard and Poor’s will begin using an identifier to distinguish between their ratings on structured finance products and other ratings… this is a good step forward for the markets… (H/T Credit Risk Chronicles) ~~~”As market participants will be aware, under the European Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009) in force from December 2009 (the [...]
Sunday, November 15, 2009
From down under we have an incredible story of a US private equity firm dodging taxes made in profit on a recent Australian IPO…and hightailing that cash out of the country before the authorities could judicially claw it back… reporting from The Australian… ~~~”The ATO [Australian Tax Office] says the TPG [Texas Pacific Group] entities owe the commonwealth $452,236,874.70 [...]
Jacques Polak Research Conference at the IMF Financial Frictions and Macroeconomic Adjustment Washington DC, November 5—6, 2009 Session 4: Asset Prices and Crises Chair: Jan Brockmeijer (Deputy Director, Monetary and Capital Markets Department, IMF) Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007–09 Viral Acharya (New York [...]
Filed in Creativity, Liquidity, Open engines, Regulatory, Restructuring, Transparency
|
Also tagged ABS, accounting, BofA, Citi, credit ratings, Regulatory capture, SIVs
|