Financial sector reguatory reform?
Get flash to fully experience Pearltrees
Every time I hear a big industry crab about how some new set of government regulations will mean the end to life as we know it, bring the economy crashing down around our heads, or burden the consumer with more passed-on costs, I think of the smartest words ever spoke. They were: " There you go again." Reagan and I wouldn't have seen eye to eye on much, but this phrase sums up my exact reaction to the arguments by the financial industry and its chums in Washington against the financial regulation bill now before Congress.
There is nothing costlier to banks than causing financial regulation to fail. Deregulation, desupervision and de facto decriminalization plus perverse compensation create the environments that drive our recurrent, intensifying financial crises. The costs of regulation are trivial relative to the costs of an economic crisis like the recent one.
Why Nations Fail
The fallacy of financial regulation: neglect of the shadow banking system | Economists' Forum | Economics blog from the Financial TimesDebating economics Welcome. If you have yet to register on FT.com you will be asked to do so before you begin to read FT blogs.
To Volcker Rule
Governor Sarah Bloom Raskin At the Association of American Law Schools Annual Meeting, Washington, D.C.
On the floor of the New York Stock Exchange.
Of course its repeal contributed, directly and indirectly, to the financial crisis Here’s the headline for Andrew Ross Sorkin’s column on Tuesday about Glass-Steagall and the financial crisis:
The following expresses my personal views, not those of the SEC or its staff.
Our story thus far : The Commodity Futures Modernization Act of 2000 , sponsored by Texas Senator Phil Gramm as a favor to his wife Wendy (who sat on the Board of Directors of Enron, which wanted to trade energy derivatives without oversight) was rushed through Congress in 2000.
Shadow Banking and Financial Regulation — The Harvard Law School Forum on Corporate Governance and Financial RegulationEditor’s Note: Morgan Ricks is a visiting assistant professor at Harvard Law School. Through June 2010, he was a Senior Policy Advisor and Financial Restructuring Expert at the U.S.
on the question of capital adequacy ratios
Addressing "Systemic Risk"
Global Standards & Regulation
Issue #5, Summer 2007 Elizabeth Warren I t is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house.
Here's a curious fact. If you think about it for a second, we're witnessing the simultaneous failure of three very different banking systems.
After reading about the protest on Wall Street with 700 arrests, I visited the website, and was disappointed that the movement has no formal agenda.