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Tag Archives: swaps

Summary of amendments to the Dodd draft

Amendments to Dodd bill – HT — Shahien at Huffpo

Treasury Secretary Geithner’s “Proposed OTC Act created new and significant loopholes”

From Michael Greenberger, former CFTC General Counsel, at the  Make Markets Be Markets conference. (HT Credit Risk Chronicles) Pending Derivatives Legislation and Legislative Proposals The Obama Administration White Paper In response to the catastrophic systemic failure caused by unregulated derivatives, the Obama Administration in its June 2009 White Paper proposed that all standardized OTC derivatives be subject to […]

Populism V

From Finextra: ~~~ A group of 48 non-profits are tapping YouTube, Twitter and facebook for a UK campaign to introduce a “Robin Hood tax” on banks that they argue could raise hundreds of billions of pounds a year to fight poverty and climate change. The coalition of charities, aid agencies, green groups and unions is calling […]

Secretary Geithner should resign

I first published this post on November 21, 2009… I believe it is even more the case now. Timothy Geithner serves Wall Street. Our economy and nation will not be repaired until the control of Wall Street over the government, the Federal Reserve and the nation is broken. US Treasury Secretary Geithner should resign from office. […]

Liquidity risk is the risk that a given security or asset cannot be traded quickly enough in the market to prevent a loss (or make the required profit).

Money Market Black Swan Liquidity risk is the risk that a given security or asset cannot be traded quickly enough in the market to prevent a loss (or make the required profit).  Learn lots more about liquidity and financial markets reform here at Riski … (Hattip ZeroHedge)

“Too big to fails” in the muni markets…

America’s largest banks are the prime underwriters of muni debt and swaps… this area of the market has been a particularly abusive part of Wall Street. Their behavior against municipalities is a charge against them in the discussion of whether they should be broken up. There are many stories of predatory behavior towards municipal officials… muni swaps […]

Proof of Trillin’s thesis

~~ OMG… Bird and Fortune prove Trillian’s thesis… and a few commonly held beliefs… (HT ZeroHedge) Link to Bird and Fortune video at the Financial Times…

Harmonizing…

The SEC and CFTC held a joint meeting today on harmonizing dervicatives regulation between the two agencies. This effort is mandated by Congress and follows on the memorandum of understanding signed last year by the agencies. Very arcane and interesting meeting … the issues covered are the “devils in the details”. It had the feeling […]

Songs of stability…

About a year ago I wrote comments to the Securities, Insurance and Investment Subcommittee of the Senate Banking Committee about the regulation of investment banks after the Bear Stearns collapse … I tried to highlight several principles about financial markets stability and regulation. The main principle which I tried to focus on is that markets, if operated […]

Charles Munger on Wall Street

  This is a set of interviews with Warren Buffett and Charles Munger of Berkshire Hathaway and David Sokol of MidAmerican Energy Holdings Company ( a firm  majority owned by Berkshire). There are many good statements about Wall Street and the practices of investment banks and the risk of credit default swaps…. the money quote from Mr. […]