Fed Cracks Down on New Mergers at the Biggest Banks

By: Thursday December 13, 2012 9:15 am

I do go on about the lack of regulation at the big banks. But I’ll have to grant the Federal Reserve a modicum of credit for this action: The Federal Reserve is pushing large U.S. banks to forget about all but the smallest acquisitions for a while amid a raging debate over the risk big [...]

Banks Rake In Profits – Largely From Government Supports

By: Wednesday December 5, 2012 3:37 pm

It goes without saying that you should not weep for the banking industry. In the years following a Great Recession they caused, they still manage to churn out record profits. This is the 13th straight quarterly rise in profits for financial institutions. The industry’s third-quarter earnings jumped 6.6% from the same period in 2011, to [...]

Obama vs. Taibbi: Obama’s Defense of Dodd-Frank Falls Short

By: Monday October 29, 2012 9:15 am

Taibbi is pretty polite about it, but Obama’s defense involves a lot of misdirection. It assumes that Lehman Brothers, by virtue of having failed, was the only financial institution out there responsible for the collapse, rather than an example of industry-wide behavior.

Break Up the Banks for a Faster Economy

By: Saturday October 27, 2012 9:39 am

This week, ex-banker Charles Morris, who was featured in the documentary Inside Job, brings us compelling evidence that countries with a large financial sector create lesser economic growth than countries that have restrained that sector. While a well-functioning financial system is key to growth, there’s a balance that needs to be struck, Morris writes: Once [...]

Fed Governor Daniel Tarullo: Break Up the Banks

By: Thursday October 11, 2012 8:30 am

In an announcement that would have really helped two years ago, Federal Reserve Governor Daniel Tarullo called for a size cap on the largest financial firms. Tarullo is the point person at the Fed for bank policy, including consumer protection and regulatory measures. So he’d be in the best position in that organization to know [...]

On Fourth Anniversary of Lehman Collapse, No Fundamental Change on Wall Street

By: Monday September 17, 2012 12:19 pm

Four years later, we have not seen a systematic dismantling of the conditions that created the crisis. We’ve seen trillions in emergency support thrown at the banks that survived the crash, all of whom have grown bigger and more indispensible, even more “Too Big to Fail” than before. We’ve seen cosmetic regulatory changes, many unrelated to the crash at all, which have not yet been tested and in many not yet implemented. And the core problems of a massive financial sector have not been resolved.

Former Citigroup CEO Sandy Weill: Break Up the Big Banks

By: Wednesday July 25, 2012 10:23 am

Sandy Weill, the former CEO of Citigroup, became the latest unorthodox figure to endorse the concept of breaking up the mega-banks. Weill joins former and current Federal Reserve regional bank Presidents like Richard Fisher and Thomas Hoenig, as well as several academic conservatives. What’s even more unusual about Weill joining this chorus is the central [...]

A Bipartisan Solution To Endorse: Breaking Up the Big Banks

By: Monday June 4, 2012 8:55 am

I can get behind any piece of writing that includes the line “James Pethokoukis doesn’t know what he’s talking about.” Nine times out of ten, that’s the case. This bill of particulars is accurate. But let’s call this that tenth time. Pethokoukis, a columnist for the American Enterprise Institute, writes in the pages of the [...]

FDIC: Banks Enjoy Highest Quarterly Profits Since 2007

By: Thursday May 24, 2012 11:36 am

There’s a credible school of thought that you can determine whether or not banking industry reforms like Dodd-Frank are working by whether or not industry profits have slowed. Well, the FDIC has your answer: Bank profits in the first quarter of 2012 reached their highest quarterly income levels in nearly five years, a federal banking [...]

St. Louis Fed President: Break Up the Banks

By: Thursday May 17, 2012 12:20 pm

James Bullard, the President of the St. Louis Federal Reserve, has become the second regional bank President in the last couple months to endorse the concept of breaking up large banks. “We do not need these companies to be as big as they are,” Bullard said. His remarks come a week after J.P. Morgan Chase [...]

JPMorgan Ignored Risks in Pursuing Fail Whale Trade

By: Tuesday May 15, 2012 8:15 am

One thing to understand about the Fail Whale debacle at JPMorgan Chase is that there were lots of warning signs. The trades were public knowledge for over a month; in fact, that’s part of the reason they failed so spectacularly, as hedge funds got wind of the trades and started taking the other side of [...]

Advertisement
FOLLOW FDL NEWS DESK

Close