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Volcker Rule

How Jamie Dimon Shows Us Exactly What Is Wrong With Our Banks

Sanjay Sanghoee | Posted 03.30.2013 | Business
Sanjay Sanghoee

Banks today have become self-serving profit machines whose primary goals are misaligned with our nation's larger interests, and are a far cry from the friendly neighborhood institutions that once made the American dream possible.

Goldman's Sneaky Tactic Dodges Regulations

Reuters | Matthew Goldstein and Emily Flitter | Posted 01.25.2013 | Business

NEW YORK (Reuters) - Goldman Sachs Group is looking to raise up to $600 million from its wealthy customers for a publicly traded credit fund that will...

Goldman's Genius: Ignoring Rule That Doesn't Exist

Mark Gongloff | Posted 03.24.2013 | Business
Mark Gongloff

See, folks, this right here is an example of how the rest of us playing checkers while Goldman Sachs is playing three-dimensional chess.

Here's the Real Deal on the Volcker Rule

Bartlett Naylor | Posted 02.17.2013 | Business
Bartlett Naylor

In reality, the Volcker Rule will mean no change, no closure of business divisions, no costs from foregone financial activity, for more than 99.9 percent of banks.

Study: Banks Will Always Suck At Trading

The Huffington Post | Mark Gongloff | Posted 10.08.2012 | Business

Science has spoken: Banks are doomed to suck at trading forever and should be stopped before they crash the global economy again. A new study by e...

Not Making the Grade: Report Card on Global Financial Reform

Laura Kodres | Posted 11.28.2012 | Business
Laura Kodres

Despite a host of reforms in the right direction, the financial structures that were in place before the global crisis have not actually changed that much, and they need to if the global financial system is to become a safer place.

Oversight: Why Congress Needs to Back the Securities and Exchange Commission

Sanjay Sanghoee | Posted 11.17.2012 | Business
Sanjay Sanghoee

For the SEC to do its job properly, it needs adequate resources, and for that it needs the support of Congress. To understand why the budgetary issue is so important, and why the SEC deserves more funding, let's look at the trajectory of the Commission since the Madoff scandal.

Ben Hallman

Four Years After Lehman, U.S. Banks Fight Reform

HuffingtonPost.com | Ben Hallman | Posted 09.15.2012 | Business

The collapse of Lehman Brothers four years ago today was the Pearl Harbor moment of a financial crisis that, over the next few months, threatened to b...

'We Will Strive For Simplicity With Volcker'

Reuters | Posted 11.14.2012 | Business

By Alexandra Alper WASHINGTON, Sept 14 (Reuters) - U.S. authorities are aiming to finalize the Volcker rule's curb on ...

Looking Back at 'The Newsroom,' Pondering a Free Market

Andrew Fish | Posted 11.04.2012 | TV
Andrew Fish

By inserting a fictional cast into the framework of real-world events, Aaron Sorkin has provided both an outspoken opinion on American politics and a starting point for research into any number of financial and political issues facing the country.

Food and the Fed

Robert Kuttner | Posted 10.13.2012 | Politics
Robert Kuttner

Readers of my stuff will note that, like columnist Gail Collins on the subject of Mitt Romney's dog-on-the-roof, I never pass up an opportunity to point out that World War II cured the Great Depression; and that today we need massive social investment to cure slumping demand. Today, that needed investment, rather than going to war, should go to renewable energy, mitigation of the climate damage already done, and other strategies to allow decent living standards at a much lower toll on the planet. The current low interest rates allow government to borrow serious sums to finance these social investments. What's depressing is that the mainstream debates are over here, and the solutions are over there. While we drag the policies that we need regarding climate change onto center stage, let's at least not make matters worse by raising interest rates.

Sandy Weill's Bank Breakup Hindsight isn't 20-20

Carol Roth | Posted 10.07.2012 | Business
Carol Roth

While the repeal of Glass-Steagall was certainly a part of making our system fragile to the point where it is at today, thinking that a simple solution like breaking up the banks will be the panacea that we seek is incredibly naïve.

Mega-Bank's Fed Financed Back Door Evasion of Prop Trading Restrictions

Raymond J. Learsy | Posted 09.23.2012 | Business
Raymond J. Learsy

The Fed must desist in funding the trading operations of Mega-Bank Holding companies so that they can no longer use the Fed window to play casino with commodities that are basic to our economic well-being.

Jamie Dimon's Malign Influence On The Culture Of American Banking

Raymond J. Learsy | Posted 09.12.2012 | Business
Raymond J. Learsy

Prop trading and gambling with depositors money, together with the housing debacle, has focused the anger of the American people on Wall Street. Dimon has made himself the standout of both excesses and has used his position and the resources of his bank to exacerbate both.

Big U.S. Banks Submit Their 'Living Wills'

AP | ALEX VEIGA | Posted 09.02.2012 | Business

Nine of the largest U.S. banks have submitted plans offering roadmaps for how the government could break up and sell off their assets if they are in d...

Alan Greenspan Tells It Like It Isn't

Raymond J. Learsy | Posted 08.24.2012 | Business
Raymond J. Learsy

Greenspan sprung to the aid of the Wall Street Mafia by proclaiming loud and clear there is no need to return to the Glass-Steagall Act and all it would imply in restricting the proprietary trading of banks: "Glass-Steagall was never a useful vehicle."

Is Jamie Dimon's Business First Class?

John Fullerton | Posted 08.19.2012 | Business
John Fullerton

Who among the Board of Directors and senior management does not understand that this is in conflict with at least the "spirit and intent of the law" recently passed by Congress?

The Jamie Dimon 'Puppet Show'

Raymond J. Learsy | Posted 08.14.2012 | Business
Raymond J. Learsy

Words like "too cozy" and "ridiculous" were among the adjectives applied to the testimony of Jamie Dimon before yesterday's Senate Banking Committee Hearing. It is one example of the frustration felt by those who wanted answers to hard questions.

'Occupy The SEC' Has Exactly 11 Questions For Jamie Dimon

Posted 06.12.2012 | Business

Occupy the SEC has some questions for Jamie Dimon. Dimon, the CEO of JPMorgan Chase, the bank that lost $2 billion and counting last month due to ...

The Unfinished Business of the Obama Administration: Bank Reform

David Coates | Posted 08.12.2012 | Business
David Coates

In a very real sense, the important dimensions of effective bank reform have not so much stalled as simply not happened at all.

Five Ways JPMorgan's Troubles May Affect You

Richard Barrington | Posted 08.11.2012 | Money
Richard Barrington

The average customer has more to lose than to gain from the high-stakes world of bank investing. That's why rules to separate such speculative activity from traditional banking operations would benefit customers who depend on bread-and-butter products like checking and savings accounts.

How JPMorgan Got Around The Volcker Rule

Reuters | Posted 08.11.2012 | Business

By David Cay Johnston June 11 (Reuters) - JPMorgan Chase & Co blames its $2 billion, and maybe much larger, tradin...

Mark Gongloff

Wall Street Couldn't Care Less About JPMorgan's Loss

HuffingtonPost.com | Mark Gongloff | Posted 06.11.2012 | Business

It's official: Absolutely nobody on Wall Street cares about JPMorgan Chase losing $30 billion. That is the clear message of an exhaustively reporte...

Dream Team of Bank Regulators Is Forgetting an Important Player

Sanjay Sanghoee | Posted 08.11.2012 | Business
Sanjay Sanghoee

Just recently, Washington announced the creation of a "dream team" of financial regulators, called the Systemic Risk Council. Great idea, but here's a question: Why was the current chairwoman of the SEC, Mary Schapiro, not included?

Fed Official: Volcker Rule Could Have Staved Off JPMorgan Loss

Reuters | Posted 08.06.2012 | Business

* Fed's Tarullo: Volcker will shed light on hedging trades * JPMorgan trading losses tied to failed hedging strategy * O...