Wednesday, April 21, 2010
Vermont Senator Bernie Sanders, says “the issue is not whether Congress regulates Wall Street, it’s the degree to which Wall Street regulates Congress.” Time to break up the banks…
Filed in Launching..., Open engines, Recession busters..., Regulatory, Restructuring
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Also tagged BofA, break up banks, break up the banks, Congress, Goldman Sachs, JP Morgan, Wall Street
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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, [...]
March 30 (Bloomberg) — Simon Johnson, a professor at the MIT Sloan School of Management, talks with Bloomberg’s Matt Miller about his new book “13 Bankers: The Wall Street Takeover and the Next Financial Meltdown.” From Publishers Weekly Though this blistering book identifies many causes of the recent financial crisis, from housing policy to minimum [...]
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 [...]
From Bloomberg… “Florian Esterer, a fund manager at Swisscanto Asset Management, and Dirk Becker, an analyst at Kepler Capital Markets, talk about President Barack Obama’s plan to curb U.S. banks. They also speak with Bloomberg’s Rishaad Salamat about today’s meeting of Group of Seven finance ministers in London. ” Here is the press release from [...]
Filed in Launching..., Regulatory, Restructuring, Trading, Transparency
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Also tagged dealers, deleverage, FSB, leverage, Liquidity, Obama, primary dealers, Volcker
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At the House Financial Services Committee hearing last week Chairman Barney Frank mentioned that he would be attending the World Economic Forum in Davos and have a chance to discuss coordinating global financial regulation with officials from other countries… all to the good… The Financial Times is reporting another variety of lobbying that the banks are [...]
Thursday, January 7, 2010
Well… President Obama tried to lecture the megabankers… and the bankers thought that meeting went really well… just a light tap on the wrist from the President… The Chairman of the US Federal Reserve persists in filling up the punch bowl to keep the economy from cratering. Unfortunately the artificial “liquidity” that Mr. Bernanke has created is being used [...]
Tuesday, December 29, 2009
Three cheers for Arrianna Huffington, political strategist Alexis McGill, filmmaker/author Eugene Jarecki, and Nick Penniman of the HuffPost Investigative Fund… for this great campaign to encourage everyone to move their banking to local banks and credit unions… From HuffPo — “The idea is simple: If enough people who have money in one of the big four [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged banks, break up the banks, confidence, Congress, economic justice, economy, Wall Street
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Seems like it’s “heating up” around financial reform in Washington… and Chicago… Bloomberg News has a discussion with Republican Representative of California Darrell Issa in which he says a House panel wants to know if members of Congress received sweetheart loans from Countrywide. The Oversight Committee also issued a subpoena to Bank of America which [...]