Financial Reform Returns to the Political Agenda

By: Tuesday May 15, 2012 6:19 am

If there’s one thing to be gained from the Fail Whale trade, it’s that one section of the political class has rediscovered the need for stronger financial regulations. Whether it’s the reinstitution of Glass-Steagall, limits on bank size or simple accountability, it has suddenly become worthwhile to mention that the status quo, even after Dodd-Frank, [...]

Glass-Steagall or Bank Size? Why Not Both, And More?

By: Monday May 14, 2012 12:19 pm

In the wake of JPMorgan Chase’s Fail Whale trade, proponents of stiffer regulation on Wall Street than what was ushered in with Dodd-Frank have offered a variety of solutions. In truth all of them could be beneficial in tandem to reduce risk and political influence from the financial system. For instance, Elizabeth Warren, who has [...]

Levin and Merkley Confirm: We Didn’t Intend Fail Whale Trades To Be Legal

By: Friday May 11, 2012 1:39 pm

Politicians using Jamie Dimon’s Fail Whale trade as a pretext to call for tighter banking regulations are performing exactly the correct public service in their job description. They’re supposed to respond to events as they happen, and create appropriate safeguards to minimize the risk from those events. And Senators Levin and Merkley make the point [...]

Brown Reintroduces Safe Banking Act

By: Wednesday May 9, 2012 1:37 pm

The big protest today in North Carolina had nothing to do with marriage equality. It was against Bank of America. While the issue of civil rights is incredibly important, so too is the issue of a runaway financial sector controlling the US economy and running it into the ground. And it tends to get Americans [...]

Dallas Fed Proclaims: “Break Up the Banks”

By: Thursday March 22, 2012 8:16 am

The Dallas Federal Reserve Bank released a report yesterday calling for the end of “Too Big To Fail” and the breakup of the largest and most systemically important banks. In a letter signed by Richard Fisher, the conservative president of the bank, he endorses the research report, and he says that the Dodd-Frank law did [...]

Biggest Banks Already Qualify Under Basel III Reforms

By: Monday September 13, 2010 10:28 am

Since the deal on the Basel accords, I hadn’t seen a whole lot of criticism of the plan, which the consensus opinion finds stronger than expected. But the counterpoints have begun to trickle in. Naked Capitalism has a rundown, though most of the criticisms have little to do with the rules themselves, but what other [...]

IL-Sen: Giannoulias Supports Brown-Kaufman, Higher Capital Requirements

By: Friday July 30, 2010 9:25 am

Last week, Kentucky Senate candidate Jack Conway told me that he supported breaking up the big banks as an extension of financial reform. He stressed that the largest half-dozen firms only grew since the financial crisis, accumulating 70% of total GDP in assets, and that the Justice Department’s anti-trust division and the FTC needed to [...]

Jack Conway: Break Up the Big Banks

By: Monday July 26, 2010 11:17 am

The Senate election in Kentucky offers a pretty stark choice – hardcore glibertarian Rand Paul, or mainstream Democrat Jack Conway. Conway, the state’s Attorney General, sat down with FDL News while at Netroots Nation, and I was impressed with his ability to describe common-sense issues in populist terms, and his insight on people’s anger with [...]

As Bipartisan Talks Continue, The Safe Banking Act Picks Up More Votes

By: Thursday April 22, 2010 6:50 am

Getting back to the big bill at hand, WaPo sees convergence on a Wall Street reform bill, with both Chris Dodd and Richard Shelby optimistic about a deal. “I’m more optimistic than I’ve ever been,” said Sen. Richard C. Shelby (Ala.), the lead Republican negotiator. “I think we can put a bill together pretty soon.” [...]

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