iOS app Android app

Volcker Rule

Goldman Sachs Plans To Spin Off Proprietary Trading

Posted 05.25.2011 | Business

Goldman Sachs is "seriously considering spinning off its proprietary trading unit" according to CNBC's Kate Kelly. The group plans to do so to comply ...

Goldman Discusses Spin Off: Report

Reuters | Posted 05.25.2011 | Business

(Reuters) - Goldman Sachs Group Inc (GS.N) executives are weighing spinning off at least a part of the bank's private equity business following financ...

Ryan Grim

Prop Traders Being Reassigned In Wake Of Volcker Rule

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

A Fox Business report on Tuesday evening made backers of the Volcker Rule nervous that big banks had already found a way to trade taxpayer-backed mone...

DK Matai | Posted 05.25.2011 | Business
DK Matai

Editor's Note: This post has been removed from the Huffington Post....

Question for the Tea Party: Why the Free Ride for Republicans Protecting Bankers?

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

Starting the process of reining in the banks is the antidote to the bailout and to future bailouts -- both politically and in terms of better policy. And it's Republicans and Wall Streeters who are trying to kill it.

Paul Volcker: 'The Savior Of Wall Street'

The New Republic | Noam Scheiber | Posted 05.25.2011 | Business

But then something unforeseen happened: Legendary Fed Chairman Paul Volcker, a hero to Wall Street reformers and scourge of megabanks, penned a letter...

Don't Let Goldman Sachs Off the Hook

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

We want Fed money to be fueling business and consumer lending -- we don't want it to be encouraging gambling in the securities and derivatives casinos.

Did Democrats Just Set a Brilliant Trap ... For Themselves?

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

With yesterday's defeat of the Brown/Kaufman SAFE Act -- an amendment which would have broken up the big banks -- the Democrats left themselves open to the charge that they've failed to stand up to the big banks.

Rick's Casino - The 2010 Version, That Is

Leo Hindery, Jr. | Posted 05.25.2011 | Business
Leo Hindery, Jr.

If Citigroup is the 'poster child' for all that went wrong in the commercial banking side of the financial industry since 1999, then, Goldman Sachs is, the 'poster child' for the investment banking side.

Volcker Rule Could Wait Until 2022

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

With supporters and opponents of the much-debated financial reform bill emphasizing the urgency of the moment, one crucial component of the legislatio...

Jason Linkins

Scott Brown's Sweetheart FinReg Deal Needs A Snappy Nickname

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Politics

Over at the Wonk Room, Pat Garofalo takes a moment this morning to discuss the sweetheart deal that Senator Scott Brown (R-Mass.) carved out of the fi...

Friday Talking Points [129] -- Incrementalism Wins Big

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

We're going to begin today with the news that a popular New Jersey beach is considering allowing women to sunbathe topless. And then move right on to...

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 ...