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Tag Archives: Wall Street

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, […]

13 bankers and too big to fail

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 […]

So far the reformers of finance have neglected the shadow system

The parallel “shadow” banking system needs fixing: that should mean painful choices for money-market funds Mar 25th 2010 | From The Economist IF THEY were to film “It’s a Wonderful Life” today, the hero would probably not be a banker—and not just because of the optimistic title. The shape of finance has changed radically in the […]

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

Populism VIII

MAPLight.org… The site uses three data sets to create a detailed picture that illustrates money’s influence over elected officials: campaign contributions voting records and the supporting and opposing interests of a bill For example… ~~~ “Government Transparency Tool, Money Near Votes, Zooms in on Banking Industry Contribs given w/in 2 wks of Credit Card Bill […]

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. […]

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 […]

Populism IV

Repost from the Huffington Post: New Mexico House Votes 65-0 To Move State’s Money To Credit Unions, Community Banks ~~~ “New Mexico’s House of Representatives voted Monday to pass a bill that allows the state to move $2 billion – $5 billion of state funds to credit unions and small banks. The municipal funds bill was […]