financial regulation

On Tuesday, the House Financial Services Committee voted out six bills that would make changes to the Dodd-Frank financial reform law that could have far-reaching consequences. The bank lobbyists deserve a bonus this year. On second thought, the hundreds of millions of dollars paid by Wall Street...
05/09/2013
Blog
The journalist Gary Rivlin has a chilling investigative piece in The Nation about the massive assault on the Dodd-Frank Wall Street Reform Act since its passage in 2010. It illuminates the ways of Washington in an era of big money and how passing laws may be one thing, but fully enacting them...
05/01/2013
Blog
I recently published an article in response to a study of high-frequency trading (“HFT”) by Professor Charles M. Jones of Columbia Business School and an opinion piece he published simultaneously in Politico. My article focused on the funding of the research by Citadel LLP, a major HFT...
03/29/2013
Blog
The Senate voted Friday to get rid of subsidies that “too big to fail” banks receive from what is, essentially, an unofficial insurance policy from the government. The unanimous vote, 99-0, is unfortunately nonbinding. It was an addendum to the Democrats’ 2014 budget proposal,...
03/25/2013
Blog
Last week, Professor Charles M. Jones, a noted economist at Columbia, published an opinion piece in Politico claiming to enlighten readers on the realities of high-frequency trading (or “HFT”), computer driven trading at millisecond speeds driven by complex algorithms based on complex...
03/25/2013
Blog
Last night, the Senate Permanent Subcommittee on Investigations released a searing 300-page report on JP Morgan Chase’s London Whale episode. The bank lost at least $6.2 billion through trading credit derivatives in a business unit tasked with reducing firm-wide risk, the Chief Investment...
03/15/2013
Blog
This morning the Senate Banking Committee will hold a hearing on the nomination of Richard Corday  to lead the Consumer Financial Protection Bureau. On the merits, Cordray should breeze through.  The politics, however, are destined to be thornier. Nobody questions that Richard Cordray,...
03/12/2013
Blog
Gretchen Morgenson’s New York Times article on the New York Fed’s ongoing bailout of Bank of America is a much needed reminder of the tar baby embraced by the government in 2008 when it decided to save the banks in their current form rather than changing the system fundamentally. When A...
02/18/2013
Blog
The Department of Justice has brought a civil suit against Standard & Poor’s, the credit rating agency, that centers on the decisions that S&P made concerning models it used to evaluate default risk for mortgage-backed securities prior to the financial crisis. Default risk was central...
02/07/2013
Blog
Owners of small businesses want Wall Street and the large American banks to be held accountable for the lingering financial crisis. They believe that stronger regulations governing these institutions should be enacted and enforced.  According to the polling of Small Business Majority,...
02/05/2013
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