from Alison Frankel:
(Reuters) - The insurance conglomerate MetLife doesn't agree on much with the Financial Stability Oversight Council. The FSOC, in MetLife's view, made a grievous mistake when it dubbed the company (in the infelicitous lingo of financial reform) a "nonbank systemically important financial institution" that needs extra oversight from the Federal Reserve's Board of Governors, lest its financial distress bring down the entire U.S. economy.
from Reuters Select:
Reuters photo of the day: The lingering lure of the red necktie
Young communists wearing the red neckerchiefs that symbolize Russia's Pioneer Organization salute while posing for a picture during a ceremony for the inauguration of 18 new members in the southern settlement of Kazminskoye in Stavropol region, Russia, November 19, 2015. REUTERS/Eduard Korniyenko
The Nobel Prize winner and former World Bank chief economist believes both U.S. Democratic presidential contenders Hillary Clinton and Bernie Sanders are “right on” when it comes to the issue of income inequality. In a wide-ranging discussion he concedes that some Republicans get the problem, too.