"Too Big to Fail"
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Quelle Surprise! OCC Confirms that Big Banks are Badly Managed, Lack Adequate Risk Management ControlsAmerican Banker has an article up that is astonishing in that it tells us that the main regulator of national banks, the OCC, has confirmed one of our ongoing complaints : that the controls at the biggest banks are inexcusably weak.
UK based banks
Lloyds Banking Group
U.S. based Banks
Bank of America
The 2008/9 bailouts...
Taming the Too-Big-to-Fails: Will DoddâFrank Be the Ticket or Is Lap-Band Surgery Required?, Nov. 15, 2011 - Richard Fisher Speeches - News & Events - FRB Dallas(With Reference to Vinny Guadagnino, Andrew Haldane, Paul Volcker, John Milton, Tom Hoenig and Churchill’s ‘Terminological Inexactitude’ )
There are the bills a president signs sitting in the Oval Office and the bills that merit a Rose Garden ceremony. And then there are bills so momentous—or at least so critical to a president’s reelection prospects—that those around the commander in chief orchestrate a more elaborate ceremony. Such was the case with Dodd-Frank , the financial-reform package that President Obama signed into law last July against a backdrop of velvet curtains in a resplendent venue a few blocks from the White House.
Financial sector reguatory reform?
TBTF - curators...
Breaking up big banks: As usual, benefits come with a side of costs, by David Altig. macroblog : Probably the least controversial proposition among an otherwise very controversial set of propositions on which financial reform proposals are based is that institutions deemed "too big to fail" (TBTF) are a real problem. As Fed Chairman Bernanke declared not too long ago:
Why are TBTF Banks a problem?
Numerous Top Bankers Call for Break Up of Giant Banks.