iOS app Android app

Volcker Rule

Will The Volcker Rule Survive In Dodd's Bill? Citigroup Is Betting That It Won't

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Devotees of former Fed Chairman Paul Volcker may less than thrilled by the bill unveiled by Sen. Chris Dodd (D-Conn.) Citigroup, for its part, doesn...

Lincoln to the Rescue

Robert Reich | Posted 05.25.2011 | Politics
Robert Reich

Blanche Lincoln wants to force the banks to put their derivatives into separate entities that aren't subsidized by you and me. This is just common sense. But it's the biggest battle in financial reform right now.

Demand an "Up or Down Vote" On Real Financial Reform

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

Instead of having politicians do their horsetrading in private and leaving the public vote until the end, let's have a public show of hands on the vital economic issues of our time.

What's Still Worth Fighting for on Wall Street Reform?

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

The most important fight from here on out is protecting the surviving elements of the derivatives bill crafted by Sen. Blanche Lincoln. Lincoln's bill would force big banks who deal derivatives to spin off those operations into separate companies.

Shahien Nasiripour

Senators Target Wall Street, With Goldman Sachs In Mind | Shahien Nasiripour | Posted 05.25.2011 | Business

UPDATE : May 10, 2010 -- Senators Carl Levin (D-Mich.) and Jeff Merkley (D-Ore.) will offer their bill to restrict the trading activities of big banks...

Shahien Nasiripour

Wall Street Vet Involved In 1998 Long-Term Capital Management Bailout Says Nothing Has Changed | Shahien Nasiripour | Posted 05.25.2011 | Business

Ten years before this latest crisis, the U.S. government engineered the bailout of a financial firm that had borrowed billions of dollars to make big ...

Is Vikram Pandit in Favor of Real Reform?

James Kwak | Posted 05.25.2011 | Business
James Kwak

Testifying today before the TARP Congressional Oversight Panel, Vikram Pandit claimed that Citigroup is on the side of the angels -- in this case, the side of real financial reform.

Reid Cramer: Financial Reform In Five Steps

Mother Jones | Reid Cramer | Posted 05.25.2011 | Business

The big banks and their lobbyists are vigorously resisting a rewrite of their operating rules and working hard to insert loopholes and exclusions that...

Volcker Rule Geithner May Give Regulators Leeway in Applying Volcker Rule | Posted 05.25.2011 | Business

- The U.S. Treasury Department wants to give regulators discretion to define proprietary trading as the White House tries to revive its plan to bar ba...

Peter Boone and Simon Johnson:

Shooting Banks | Peter Boone and Simon Johnson | Posted 05.25.2011 | Business

Rahm Emanuel famously said, "You never want to let a serious crisis go to waste." But, as the White House begins to campaign for the November midterms...

Volcker Rule Obama administration is backing off "Volcker rule" | JOSH KOSMAN and MARK DeCAMBRE | Posted 05.25.2011 | Business

The New York Post reports that "according to people familiar with the situation," the White House is abandoning the "Volcker Rule," a key reform named...

Prospects for Financial Reform

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Despite, or rather because of, the arrogance of our prominent financial players, we're making progress on the bigger agenda: changing the consensus on what is safe and sound in banking.

Treasury Secretaries of Administrations Past Petition For Volcker Rule

Posted 05.25.2011 | Business

The 'Volcker Rule' got fresh support this morning when five former Treasury Secretaries endorsed the key financial regulation in a letter to the Wall ...

Shahien Nasiripour

Paul Volcker Says Mortgage Market Will 'Have To Be Reconstructed' (VIDEO) | Shahien Nasiripour | Posted 05.25.2011 | Business

Former Federal Reserve Chairman Paul Volcker said the nation's home mortgage market is in trouble and will have to be "reconstructed." "It's totall...

Dimon Said His Bear Stearns Sticky Bombs Are Worse Than Geithner's

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Taxpayer subsidized cheap funding and looser accounting standards have allowed our largest banks to keep their Dorian Gray financial pictures behind a curtain and out of public sight.

Nick O'Donohue, JPMorgan Bank reform may have $220 bln capital hit

Reuters | Posted 05.25.2011 | Business

LONDON (Reuters) - Top banks will need an extra $221 billion (139.6 billion pounds) of capital and see annual profits slump by $110 billion if all pro...

"JPMorgan" Shows Us the 'Volcker Rule' Is All Hat and No Cattle While the Administration and Congress Fiddle Away

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

We have a situation where, in essence, government protected/guaranteed funds will be used as chips to play big time casino at the commodity roulette table.

Henry Paulson's NYT Op-Ed: Financial Reform Needed, But Obama's Proposals Won't Work | HENRY M. PAULSON Jr. | Posted 05.25.2011 | Business

[T]he most recent proposal by the Obama administration -- to bar big banks from trading driven by other than customer-related activity -- would not ha...

Hank Paulson Blasts Volcker Rule, Says It Won't Solve The Problem

Times Online | Iain Dey | Posted 05.25.2011 | Business

in an interview with The Sunday Times, Paulson said that the plans to stop banks from betting their own capital on the financial markets would "not so...

'Volcker Rule': Goldman Sachs And Others Could Lose Their Bank Status | Chrystia Freeland and Francesco Guerrera | Posted 05.25.2011 | Business

Goldman Sachs and other banks should give up their bank status if they want to avoid the ban on proprietary trading proposed by the White House, Paul ...

Volcker Rules Opposed by Wall Street and Republicans

The Baseline Scenario | Posted 05.25.2011 | Business

I testified yesterday to the Senate Banking Committee hearing on the "Volcker Rules" (full pdf version; summary). My view is that while the principle...

Volcker Still 'Just A Photo Op'?

Posted 05.25.2011 | Business

When Paul Volcker was first appointed chairman of President Obama's Economic Recovery Advisory Board, he really didn't expect to have much influence. ...

What Getting Dumped by My Girlfriend Taught Me About Being Dumped by Obama

Mike Elk | Posted 05.25.2011 | Politics
Mike Elk

On that cold February night, I was burning with excitement for both Irene and Obama. I didn't know if I was in love with Irene, but I was certainly in love with Obama.

Volcker, Dodd and the Death of Regulatory Reform

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

Paul Volcker appeared before the Senate Banking Committee to pump up his eponymous "Volcker Rule," which aims to limit the scope of banking activities. I'm left with a sinking feeling that we're watching a slow death of regulatory reform.

Felix Salmon: The Volcker Rule's Two Huge Loopholes

Reuters | Felix Salmon | Posted 05.25.2011 | Business

Paul Volcker's long NYT op-ed last weekend, and his testimony to the Senate banking committee this week, did very little to clear up a lot of the unce...