Dimon double gives Congress wasteful distraction

June 19, 2012

Lawmakers from both chambers spent a total of four hours grilling JPMorgan’s boss over a loss that never put taxpayers at risk. Congress should ensure banks are well supervised, but with a runaway deficit and anemic job and GDP growth, they have more pressing work to do.

Regulator grudge match redux: Geithner vs Bair

June 21, 2012

The former FDIC chief has formed an independent group to help push forward reforms in the U.S. financial system. The primary pressure point will be the council of regulators led by Treasury Secretary Tim Geithner. The two have sparred before. But their interests now look aligned.

U.S. banking overhaul gets a second wind

October 11, 2012

Two years after Dodd-Frank thudded onto desks across Wall Street, regulators are on the stump with ideas from the cutting-room floor. Fresh on the heels of the hoopla to break up banks, the Fed’s top cop is pushing to cap their size. Too big to fail clearly hasn’t been resolved.

New banking sheriff will aim further to the right

November 7, 2012

Texas Republican Jeb Hensarling is likely to be the next chairman of the agenda-setting U.S. House Financial Services Committee. He wants to gut Dodd-Frank but is also keen to get Uncle Sam out of housing and refocus the Fed. Such a bold agenda could be tough to advance, though.

Fed flunks crucial part of bank stress tests

March 8, 2013

The watchdog is happy enough saying what might happen to big banks if the economy tanks: they could lose up to $462 bln. But it’s inexplicably shy about revealing the effects of a sharp rise in interest rates. That’s just as real a risk that the Fed should disclose to investors.