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Financial Regulation

Brinksmanship and the Return of Financial Crisis

Wallace Turbeville | Posted 12.15.2014 | Politics
Wallace Turbeville

A government shutdown once again loomed, and familiar deadlines and ultimatums flew around Washington. And Congress just used the threat to loosen the rules created in the wake of the financial crisis, a victory for Wall Street banks in their constant and well-funded campaign against reform.

Ben Walsh

JPMorgan's $22 Billion Shortfall Is Basically An Illusion

HuffingtonPost.com | Ben Walsh | Posted 12.11.2014 | Business

$22 billion sounds like a lot, but in the context of J.P. Morgan’s hugely profitable business, it’s not a high hurdle for the bank to overcome.

3 Banking Regulations We Can't Let Republicans Take Away

Keith Mestrich | Posted 12.09.2014 | Politics
Keith Mestrich

Republicans have already signaled that one of their first priorities will be to repeal or cripple regulations that are supposed to keep our economy stable, protect Americans' money and jobs, and prevent Wall Street consumer fraud and abuse.

GE and Apple Do It, So Is Offshore Planning Really All That Taboo?

Andre Bourque | Posted 12.01.2014 | Business
Andre Bourque

Offshore accounts have made headlines recently, with 51 global jurisdictions agreeing to automatically share and exchange details of tax data. Included in this agreement is information on offshore accounts and their operational procedures.

A Financial Services Marketing Girl's Guide To Surviving A Compliance Conference

April Rudin | Posted 11.19.2014 | Business
April Rudin

Our audience looked shell-shocked although it was only the morning of day 2. Deer in the headlights-I think I was the only one in the room smiling. How could I lighten their load? This is not a funeral nor a death sentence I thought. 6 years later, has anything really changed?

Secret Tapes Suggest Regulators At JPMorgan Were Blocked From Doing Their Jobs

ProPublica | Jake Bernstein | Posted 11.17.2014 | Business

This story originally appeared on ProPublica: As the Federal Reserve Bank of New York moved to beef up its oversight of Wall Street two years ago, ...

Ben Walsh

No, Regulation Is Not Keeping Banks From Making Money

HuffingtonPost.com | Ben Walsh | Posted 11.12.2014 | Business

Michael Bloomberg on Monday told a room full of bankers, traders, and investors that financial regulation was hurting their profitability and the U.S....

Ben Walsh

Hank Greenberg Sued The Government For Bailing Out AIG, And He Actually Might Win

HuffingtonPost.com | Ben Walsh | Posted 11.05.2014 | Business

Of all the crazy things people have said about former AIG chief Hank Greenberg's lawsuit claiming the insurance giant's financial-crisis bailout wasn't good enough, the craziest was that he just might win.

Ben Walsh

Financial 'Experts' No Better At Finance Than Normal Humans

HuffingtonPost.com | Ben Walsh | Posted 10.30.2014 | Business

Knowing more about finance does not lead to better financial decisions. In fact, some of the most supposedly knowledgeable people in finance -- mutual-fund managers -- don't make better financial decisions than other people.

A Regulator Finally Gets It Right: CFPB Hits A Bad Bank Where It Hurts

The Fiscal Times | David Dayen | Posted 10.04.2014 | Politics

After This American Life recently removed the mystery from the New York Federal Reserve’s cozy relationship with Goldman Sachs, multiple writers hav...

Ben Walsh

The Fed Is Even Afraid To Ask Goldman Sachs The Easy Questions

HuffingtonPost.com | Ben Walsh | Posted 09.30.2014 | Business

There's a startling moment in the recently released audio recordings of Goldman Sachs bankers talking to their regulators at the Federal Reserve Bank ...

Can Regulation Provide Global Financial Stability?

Georges Ugeux | Posted 08.25.2014 | Business
Georges Ugeux

Achieving financial stability will continue to require risk management skills, good governance, personal ethics, and, above all, courage to act to prevent further deterioration of finance.

No Law Is Perfect

Rep. Charles Rangel | Posted 08.13.2014 | Politics
Rep. Charles Rangel

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a massive piece of financial reform legislation that I voted for and was signed by President Obama in 2010. Was it perfect? Of course not. No massive piece of legislation is perfect -- and that's why we constantly work to improve the law.

Brokers Fight Rule To Favor Best Interests Of Customers

The New York Times | TARA SIEGEL BERNARD | Posted 06.13.2014 | Business

David O’Brien, a certified financial planner, has tried to repair the retirement portfolios of several victims over the years. There was the high sc...

Understanding Bitcoin

David Bergstein | Posted 08.05.2014 | Business
David Bergstein

Through recent conversations with various friends and colleagues, it has become apparent that Bitcoin is somewhat of a mystery to the majority of the population. The common query, even among seasoned investors, is inevitably, "What is Bitcoin?"

The Real Lesson From the EFH Bankruptcy

Eileen Appelbaum | Posted 07.16.2014 | Business
Eileen Appelbaum

Even when private equity firms seem to do everything right and treat other stakeholders fairly, the private equity business model is fundamentally a high-risk strategy built on excessive debt.

The Best Monetary Policy Is Strict Financial Regulation

Anthony W. Orlando | Posted 06.18.2014 | Politics
Anthony W. Orlando

In recent years, private-sector forecasters have been surprisingly accurate at forecasting changes in the unemployment rate, but they have been equally inaccurate when forecasting changes in the federal funds rate, the baseline interest rate controlled by the Fed.

Howard's Daily: The Two-Way Peril of Regulatory Ossification

Philip K. Howard | Posted 05.18.2014 | Politics
Philip K. Howard

To guard against the next financial crisis, the first task is not to rely upon Dodd-Frank, but to go back and radically simplify it.

Bitcoins and Animal Spirits

Said Elias Dawlabani | Posted 04.30.2014 | Business
Said Elias Dawlabani

For a few years I've been warning about the dangers inherent in the digital currency bitcoins. Not because of the virtues of its creators, but because...

The Bitcoin Is Victim of a Ponzi Scheme While Regulators Sleep

Georges Ugeux | Posted 03.29.2014 | Business
Georges Ugeux

When the Federal Reserve Board pronounces that virtual "currencies like Bitcoin have legitimate uses and should not be banned," it commits two sins.

Dimon Calls Gov't Action 'Unfair'

Reuters | Posted 03.25.2014 | Business

Jan 23 (Reuters) - JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on television on Thursday that government legal actions that the com...

Banks Could Still Blow Up The World

The Huffington Post | Mark Gongloff | Posted 01.25.2014 | Business

Big banks are perfectly safe these days, unless you count all those weapons of mass financial destruction they've got lying around. And who's counting...

Wall Street's All-Out War Against Financial Regulation Continues Unabated

Dennis M. Kelleher | Posted 03.18.2014 | Business
Dennis M. Kelleher

Only in the warped, distorted, Alice-in-Wonderland world of Wall Street would one think "Washington went to war against big Wall Street banks" or that "Washington won [the war] in a blowout," as said today in a Politico article.

Regulators Consider Watering Down Volcker Rule Even More

Reuters | Posted 01.25.2014 | Business

WASHINGTON (Reuters) - U.S. bank regulators said on Friday they would consider exempting certain complex securities from the so-called Volcker rule af...

We Just Dumped a Bag of Money on a Congressman -- Here's Why

Josh Silver | Posted 02.10.2014 | Politics
Josh Silver

As an anti-corruption advocate, I don't have a position on derivatives trading. What I do have a position on is corruption, and H.R. 992 is a textbook case of the way corruption has turned the People's House into an auction house.