China’s phony bad loan fix sends wrong signal

March 23, 2016

Regulators may let big lenders like Bank of China hold fewer provisions against dodgy credits. That will boost reported earnings but weaken balance sheets just as financial strains are growing. The willingness to bend the rules is another reason to avoid Chinese bank shares.

American banking has its own Tea Party

By Rob Cox
November 25, 2014

Like the anti-establishment wing of the GOP, the Independent Community Bankers of America has emerged as a highly vocal opponent of all things Wall Street, including a Lazard banker’s nomination for a Treasury role. These are the plaintive cries of a dying breed of banker.

Olympus fiasco strengthens the case for Japan reform

October 17, 2011

Olympus' embarrassing decision to dump its foreign chief executive two weeks after naming him to the job shows that reform is a slow and fitful process.

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.

Goldman needs to mark business model to market

By Rob Cox
August 16, 2010

Goldman Sachs has been at the vanguard of Wall Street firms in accepting the realities of the marketplace. During the crisis, Goldman chief Lloyd Blankfein noticeably stood out among his investment banking brethren arguing vociferously against an industry-wide push to relax mark-to-market accounting. But on matters relating to its image, Goldman has been stubbornly resistant. That may be about to change.

U.S. financial reform no longer a done deal

June 28, 2010

The political calculus for U.S. financial reform is suddenly more complicated. Last Friday's 5 a.m. Capitol Hill compromise was meant to be the culmination of months of hard-fought wrangling. But Republican Scott Brown's wavering and Democrat Robert Byrd's death put the proposal back in jeopardy.

U.S. financial reformers hang tough to bitter end

June 25, 2010

Even near the bitter end, big banks hoped Congress would pull its best punches. But the regulatory reform bill agreed early on Friday by U.S. House and Senate negotiators lands solid blows. Though no knockout, it looks set to constrain Wall Street banks' risk-taking -- and profit.

Financial reform hits double deep freeze

February 10, 2010

Even before the U.S. capital was buried under three feet of snow in a matter of days, Washington was frozen solid.

Fed audit throws a monkey wrench

November 20, 2009

The Fed audit bill makes it a bit harder to pass financial regulatory reform next year. There are jagged policy disagreements between Frank and Dodd, as well as between Dodd and Richard Shelby, the ranking GOP member on his committee. The Fed audit amendment doesn't make agreement any easier.