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Volcker Rule

Wall Street Reform: A Good First Step

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

This bill is unquestionably deserving of support. It will make the global economy a fairer marketplace. But it will not end the too-big-to-fail incentives that encourage Wall Street to take wild risks.

Shahien Nasiripour

Banks Keep Derivatives Units, Volcker Rules Softened

HuffingtonPost.com | Shahien Nasiripour | Posted 06.25.2010 | Business

This report was updated Friday at 10:25 a.m. ET and on Monday at 2:45 p.m. ET (see below). After nearly 20 hours over two final days filled with back...

Volcker Rule Under ATTACK!

Bloomberg | Yalman Onaran | Posted 05.25.2011 | Business

Senate negotiators will probably offer changes today that would soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own ...

Obama Needs to Raise the Specter of a Veto as Wall Street Neuters Financial Reform Bill

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

Obama should threaten a veto if financial reform is impotent. Certainly the nation would feel that they regained a government responsive to them, and even if no bill is passed at this time, at least they have not been held as fools.

Make Congress Live Up To Obama's Reforms

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

President Barack Obama identified five major problems on Wall Street in his speech at Cooper Union today. Unfortunately, the solutions he has proposed...

Financial Reform: Banks Still Have Billions At Stake As Bill Nears

BusinessWeek | Robert Schmidt and Ian Kats | Posted 05.25.2011 | Business

June 21 (Bloomberg) -- While Congress puts finishing touches on its financial-regulatory overhaul, Wall Street lobbyists are preparing for a new battl...

Wall Street Wants Its Name Changed to Casino Canyon?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Under the rules governing high finance, bankers can win every time. They're essentially serving as "the house" within a vast global casino. That yields a lot more cash than moving the nation's savings into productive investments.

The New York Times' Timely Whitewash of Goldman Sachs

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

Along comes a great whitewash orchestrated by the New York Times and their star financial reporter, Andrew Ross Sorkin, giving succor to those who would do away with the Volcker rule in the new financial reform legislation.

Weekly Audit: Financial Reform Makes Headway, Jobs And Social Security In Jeopardy

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger Two critical Wall Street reforms, once declared dead by U.S. megabanks, are suddenly close to Congressional ...

Stiglitz On Senate Financial Reform Bill: 'Too Little' Protection

Politico | Joseph E. Stiglitz | Posted 05.25.2011 | Business

Our regulatory system failed partly because we had regulators who didn't believe in regulation. Unless we "hard-wire" stronger regulations into our sy...

Goldman Sachs: "No Indication" Of Abacus Settlement

Reuters | Jonathan Spicer and Rachelle Younglai | Posted 05.25.2011 | Business

MONTREAL, June 10 (Reuters) - The president of Goldman Sachs Group Inc (GS.N) said on Thursday that there is "no indication" that the investment bank ...

Ryan Grim

Frank: 'Conceptual Agreement' Reached On Tougher Volcker Rule

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

The House and Senate have reached "conceptual agreement" on strengthening what's known as the Volcker Rule in the Wall Street reform bill, House Finan...

Volcker Optimistic About Financial Reform Bill

Reuters | Jonathan Spicer | Posted 05.25.2011 | Business

Reuters) - There is a good chance that a sweeping U.S. financial reform bill will be passed in a "reasonable form," White House economic adviser Paul ...

SIMON JOHNSON Will Obama Push For Financial Stability?

New York Times | Posted 05.25.2011 | Business

The official reconciliation process between Senate and House financial-regulation bills will begin next week, but the behind-the-scenes maneuvering an...

Shahien Nasiripour

Rep For Foreign Bankers Physically Restrains HuffPost Reporter From Questioning Treasury Official

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A representative for a foreign bankers group forcefully prevented the press -- and physically restrained a Huffington Post reporter -- from attempting...

Good, Bad and Ugly in Financial Reform

Kathryn Wylde | Posted 05.25.2011 | New York
Kathryn Wylde

With health care out of the way, regulation of the financial industry tops the reform agenda in Washington. New York has a lot on the line.

Paul Volcker: Do the Right Economic Thing

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Paul Volcker expresses himself in the measured language of a distinguished technocrat. But he is very worried about our current financial structure and where it is heading.

Paul Volcker, Former Fed Chief: Failing Banks Must Actually Fear They'll Be Allowed To Fail

AFP | 1 Hr 5 Mins Ago | Posted 05.25.2011 | Business

WASHINGTON (AFP) -- Failing US financial institutions must face the credible threat of government closure if reforms are to succeed, a key adviser to ...

Is Paul Volcker Barack Obama's Potted Plant?

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

If after all the fanfare, photo ops, and promises to fight, the Obama administration shamefully doesn't manage to get the Volcker rules into an already weak financial reform bill, I hope Volcker doesn't wait until the next life to speak out.

Next, Banking Reform

Robert Kuttner | Posted 05.25.2011 | Business
Robert Kuttner

It was a pleasure to see President Obama exercise some leadership and muscle towards health reform. Now, we need to see a similar display of presidential leadership on financial reform.

Scaling Back Our Bloated Financial Sector

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Individual oversized banks are not the only problem Big Finance poses to the economy -- the overall sector is much too large.

Shahien Nasiripour

Top Fed Official Says Megabanks Need To Shrink Or Crises Will Keep Occurring

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The U.S. financial system is tilted in favor of the biggest banks, compromising the "very foundation of the economic system" and putting the nation at...

The Volcker Rule: Bank Lobbyists Fight To Change 'Must' To 'May'

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

As you may just have heard the devil is in the details. Or, in the case of the latest push to reform Wall Street, the devil is in whether or not the d...

Friday Talking Points [124] -- How's That Libertarian Thingie Workin' Out For Ya?

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

We certainly have a lot of ground to cover this week, so let's dig right in. I'd like to start with a declaration, though: Bristol Palin is now fair g...

Daniel Gross: Senate Reform Bill Is Too Kind To Wall Street

Slate Magazine | Daniel Gross | Posted 05.25.2011 | Business

The Senate's passage Thursday night of extensive financial reform is being portrayed as a big loss for the financial sector. "No End to Banks' Capitol...