Comments on: The problem with Promontory http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: coupondunia http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-54985 Mon, 13 Oct 2014 12:11:20 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-54985 This really is extraordinarily good level as elevated within the website. Admire discussing about about.

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By: traducere daneza romana http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-53467 Mon, 29 Sep 2014 13:55:41 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-53467 I do not even know how I ended up here, but I thought this post was great. I don’t know who you are but definitely you are going to a famous blogger if you are not already Cheers!

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By: MrBizcycle http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-46646 Sat, 13 Apr 2013 12:18:46 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-46646 Your update/correction, where you acknowledge that your “monopolist” is one of many firms providing this service, still misses the mark. Many decades before Promontory Interfinancial arrived on the scene, customers could (and still do) purchase brokered CDs through their brokerage firms, enabling such clients to obtain FDIC coverage levels in the many millions of dollars. It is not a new concept. Indeed, today it would be difficult to find an financial advisor who would be unable to satisfy any client’s needs in this regard. Even many of the the self-service brokerage firms make these investments available.

In short, I think you are making an extraordinary stretch in finding a monopoly here and doing a disservice to your readers who offer brokered CDs to their clients outside of the CDARs program.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-46645 Sat, 13 Apr 2013 07:29:30 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-46645 @R50 –

Bullshit.

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By: realist50 http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-46643 Sat, 13 Apr 2013 01:31:15 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-46643 Like it or not, isn’t this dynamic essentially the same as most good defense attorneys being former prosecutors? In short, essentially inevitable in an adversarial system that deals with important matters.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2013/04/12/the-problem-with-promontory/comment-page-1/#comment-46639 Fri, 12 Apr 2013 17:10:43 +0000 https://blogs.reuters.com/felix-salmon/?p=21261#comment-46639 Well, this is pretty rich coming as it is from a fellow who passionately defended HSBC’s (and all its execs’) easy stroll away from trafficking, laundering and homicide felonies, as FS has so unapologetically done. Folks like Promontory made that happen – that’s what you wanted, isn’t it, guy? Why be critical now of the chaps who made it all possible?

And why be silent about the most glaring and sinister aspect of this? – it has little to do with regulators having trust in former regulators, and everything to do with the implied (and often not-so-implied) agreement that current regulators will get rich (like the former colleagues who lobby them) once they too leave government and go to work for the likes of Promontory – which of course is contingent on Promontory’s clients getting what they want from the regulators. Mary Jo White and Jake Lew …. they take this to the next derivative of ‘revolving-door’.

But hey – HSBC’s sins make this stuff look tame – so, what’s the problem?

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