Wall Street Sees Trade Deals As Opportunity To Further Gut Dodd-Frank

By: Thursday June 6, 2013 11:06 am

Despite Wall Street kicking the crap out of reformers in Congress and in the regulatory bodies, they want more. The banksters demand to have what they have had historically – complete domination. Therefore, they are looking for other avenues to eviscerate what little is left of financial reform and seemed to have found another one [...]

Brown-Vitter Bill To Break Up Too Big To Fail Banks Begins Roll Out

By: Tuesday April 9, 2013 5:59 am

Believe it or not, there is a bill in Washington to break up the Too Big To Fail banks. Sponsored by Senator Sherrod Brown (D-Ohio) and Senator David Vitter (R-Louisiana)  the Brown-Vitter bill would break up the Megabanks by requiring higher capital reserves. Not surprisingly Wall Street is not pleased. Financial Services Forum CEO Rob [...]

With Johnson Retiring Wall Street’s Nightmare May Come True With Brown Taking Gavel

By: Tuesday March 26, 2013 7:05 am

Bad news for Wall Street. A Senator Tim Johnson announces his retirement the Senate Banking Committee Chairmanship may fall to one of Wall Street’s biggest enemies, Senator Sherrod Brown of Ohio. Chairman Tim Johnson (D-S.D.), who has led the Banking Committee since 2011, will announce Tuesday he does not plan to seek reelection, according to [...]

Lew Claims Too Big To Fail Problem Solved At Confirmation Hearing

By: Thursday February 14, 2013 7:06 am

Treasury Secretary nominee Jack Lew made a stunning and fantastic claim at his confirmation hearing, namely that the Too Big To Fail or systemic risk threat from the mega banks no longer existed. That the problem had been solved by the Dodd-Frank legislation. Seriously. You may not have heard this utterly amazing news. Neither has [...]

At Confirmation Hearing Lew Faces Questions Over Citigroup Bonuses, Tax Shelters

By: Wednesday February 13, 2013 10:52 am

Treasury Secretary nominee Jack Lew went before the Senate Finance Committee today for his confirmation hearing. The hearing was mostly deferential with Lew finding considerable agreement with the Republicans on the committee, particularly on trade and corporate tax policy, but Lew did face questions over his bonuses at Citigroup and tax shelters in the Cayman [...]

Sherrod Brown Tries to Jump-Start Languishing Currency Manipulation Bill, Which Covers More Than Just China

By: Wednesday September 19, 2012 1:11 pm

Greg Sargent has an interesting by-product of the electoral debate over China, and particularly Chinese currency manipulation. Romney has used this as part of his five-point plan to improve the US economy. Sen. Sherrod Brown (D-OH) casually points out that there’s a bill on the table awaiting a vote in the House that would deal [...]

Sherrod Brown, David Vitter Team Up to Press Federal Reserve About Capital Requirements

By: Wednesday August 8, 2012 12:25 pm

On financial regulatory issues, Republicans have recently retreated back to the idea that all we need to do is to ensure adequate capital requirements at the largest banks. If they can handle anything that comes across with their own reserves, then taxpayer money is secure and the free market can sort out everything else. There’s [...]

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 [...]

Reactions to Jamie Dimon’s Senate Banking Hearing: Admissions of Guilt Amid the Arrogance

By: Wednesday June 13, 2012 11:31 am

I don’t think it was too much of a surprise that today’s hearing with Jamie Dimon was something less than stringent. Very few Senators bothered to show up with anything more than a list of questions and a pallid expression. The very structure of the hearing, with one round of five minutes of questioning, wasn’t [...]

Low Regulator Assertiveness Part of Problem With Mitigating Financial Risks

By: Tuesday June 12, 2012 9:14 am

Jamie Dimon testifies before the Senate Banking Committee tomorrow, and this Bloomberg report should be a nice template for the Senators questioning him. It alleges that he was personally responsible for keeping regulators at bay from the chief investment office, the one responsible for all the Fail Whale losses, which could reach past $5 billion [...]

Trans-Pacific Partnership: Sherrod Brown Urges Transparency for “NAFTA for Asia”

By: Monday June 11, 2012 1:34 pm

Some Senate Democrats and even some Republicans are concerned about a controversial trade deal known as the Trans-Pacific Partnership, which critics have denounced as “NAFTA for Asia.” And they are making their opinions known to the Obama Administration about the relative secrecy under which the deal is being negotiated. As first reported by Zach Carter [...]

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