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Tag Archives: Washington

Wall Street banker says “we are close to getting it over the finish line”

From the beginning of the financial reform process it seemed that the goal of the Obama administration and the Senate was to accommodate Wall Street… And here is Barclays President Robert Diamond expressing his pleasure with the legislation.  In fact Wall Street loves it except for Blanche Lincoln’s derivatives legislation… Sorry America… maintenance of the status quo trumps […]

Financial overhaul could create financial utilities

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 […]

Mashup the money!

Kudos to the Sunlight Foundation… we need a way to see what large and powerful corporations are doing on the state and federal level… From Flowing Data… ~~~ “Anyone who’s looked at campaign finance data knows it can get messy really quick (especially if you’re getting it directly from the FEC). Sunlight Labs’ newly launched TransparencyData […]

serious reckoning for those who gamed the system is a win-win

Frank Rich writes in the New York Times… ~~~”… Both as policy and politics, a serious reckoning for those who gamed the system is a win-win. Yet the fear that the Obama administration is protecting its friends persists. On the same morning that Rubin testified last week, Eamon Javers of Politico wrote about his continued influence […]

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 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 […]

Barney Frank, Zhu Min and global hot money flows…

Interesting undercurrents at The Next Global Crisis panel at the World Economic Forum at Davos… Check out the video at 1 hour 10 minutes. You can see the comments of Zhu Min, the deputy governor of the People’s Bank of China (the Federal Reserve of China), as he gives some insight from his part of […]