Financial Regulatory Forum

White House adviser Summers: US banks must yield to tighter regulation

Lawrence Summers, director of the White House's National Economic Council, departs after an interview at the Newseum in Washington, October 2, 2009. (file photo).   REUTERS/Jonathan Ernst    (UNITED STATES POLITICS BUSINESS) WASHINGTON, Oct 16 (Reuters) – All financial firms have benefited from U.S. taxpayer support and must yield to efforts to tighten regulation to prevent a future crisis, White House economic adviser Lawrence Summers said on Friday.

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New US Council, not just Fed, must eye risk

Chairman of the Federal Reserve Ben Bernanke speaks at the Congressional Black Caucus Foundation's 39th Annual Legislative Conference at the Washington Convention Center in Washington, September 25, 2009.   REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS)   By Kevin Drawbaugh
   WASHINGTON, Sept 30 (Reuters) – The head of the Federal Reserve will step back from one of the most controversial parts of the Obama administration’s drive for financial regulation reform, saying sweeping new oversight powers proposed for the U.S. central bank should be shared with other regulators. (more…)

U.S. considers “bad bank” split of Fannie Mae, Freddie Mac – report

WASHINGTON, Aug 5 (Reuters) – The Obama administration is considering splitting Fannie Mae and Freddie Mac and putting their troubled assets in a new federally backed corporation, The Washington Post reported on Wednesday, citing administration officials. (more…)

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