Live coverage of the “The Shadow Banking System” hearing.
U.S. Treasury chief Geithner, under fire, defends AIG bailout
By David Lawder and Emily Kaiser
WASHINGTON, Nov 19 (Reuters) – U.S. Treasury Secretary Timothy Geithner defended on Thursday the costly bailout of AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.
(more…)
Obama systemic risk plan blasted in Congress
By Kevin Drawbaugh
WASHINGTON, Oct 29 (Reuters) – The Obama administration’s new proposal for tackling financial risk in the U.S. economy, unveiled just two days ago, came under attack on Thursday from all sides, with critics targeting its funding and scope.
White House, Congress Democrat bill urges new US powers over financial firms
By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – The U.S. government would gain far-reaching new powers to regulate, and even shut down, large financial firms that threaten economic stability under a draft bill released in Congress on Tuesday.
White House regulatory plan won’t name systemic risk financial firms
WASHINGTON, Oct 27 (Reuters) – Financial firms that could pose a risk to the economy will not all be named at once under Obama administration plans to tighten bank and capital market regulations, a congressional aide said on Tuesday.
US “pay czar” Feinberg expecting heat for rulings
By Karen Pierog and Steve Eder
CHICAGO/NEW YORK, Sept 30 (Reuters) – The Obama administration’s pay czar joked Wednesday that he might have to move to Pluto to escape the fallout from his first batch of compensation decisions, which are expected in October.
Geithner open to changes in consumer finance watchdog
By Kevin Drawbaugh
WASHINGTON, Sept 23 (Reuters) – U.S. Treasury Secretary Timothy Geithner gave cautious support to paring back the scope of a proposed government agency to protect financial consumers, but argued forcefully on Wednesday for its creation.
U.S. won’t list systemically key firms – Geithner
WASHINGTON, Sept 22 (Reuters) – U.S. Treasury Secretary Timothy Geithner said in testimony prepared for delivery on Wednesday that the United States would not identify in advance financial firms that it views as systemically important.
(more…)
Top US lawmakers stress financial reform common points, delay seen
By Kevin Drawbaugh
WASHINGTON, Sept 22 (Reuters) – The U.S. Congress’ two top legislators on financial reform stressed their points of agreement on Tuesday, despite lingering differences and a prediction from one that the reform debate may be prolonged.
ANALYSIS-Fatter capital rules mean lean times for big banks
By Kevin Drawbaugh
WASHINGTON, Sept 9 (Reuters) – Banking is supposed to be boring.
That’s the quip that lobbyists and congressional aides use, only half-jokingly, to explain what’s in store for the banking industry as governments crack down with tighter regulation.
From higher capital standards and tighter oversight, to slimmer profits and smaller bonuses, global banking promises to be a duller and less lucrative business in years ahead. (more…)
-
Author Profile
-
