Raskin’s warning: ‘Shouldn’t pretend’ Fed capital rules are a panacea

July 10, 2013

Post corrected to show Brooksley Born is a former head of the Commodity Futures Trading Commission (CFTC) not a former Fed board governor.

Bank safety is in the eye of the beholder

November 29, 2012

Too-big-to-fail banks are bigger than ever before. But top regulators tell us not to worry. They say the problem has been diminished by financial reforms that give the authorities enhanced powers to wind down large financial institutions. Moreover, supervisors say, the new rules discourage firms from getting too large in the first place by forcing them to raise more equity than they had prior to the financial meltdown of 2007-2008.

NY Fed’s Dudley: “Blunter approach may yet prove necessary” for too-big-to-fail banks

November 19, 2012

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It was kind of a big deal coming from the Federal Reserve Bank of New York’s influential president William Dudley. The former Goldman Sachs partner and chief economist has offered a fig leaf to those who say the problem of banks considered too-big-to-fail must be dealt with more aggressively. Some regional Fed presidents have advocated breaking up these institutions. But Dudley and other powerful figures at the central bank have maintained recent financial reforms have already laid the groundwork for resolving the issue.

A picture is worth a thousand pages of financial reform

October 25, 2012

Here’s a snapshot of FDR & Co. in 1933 as they signed Glass-Steagall, which separated the financial sector into safer, deposit-taking commercial banks and risk-taking investment banks – Wall Street.

Fed call for cap on bank size sparks fresh debate on too big to fail

October 17, 2012

Federal Reserve Board Governor Daniel Tarullo’s call for limiting bank size is sparking debate in unexpected places. Keith Hennessey, who ran the National Economic Council under President Bush, was in Chicago late last week for a discussion with Democratic lawmaker Barney Frank. The topic of the panel, sponsored by CME Group Inc., was the housing crisis.

Spitzer: NY Fed “an absolute sinkhole”

April 14, 2010

To say former New York Governor Eliot Spitzer is no fan of the Federal Reserve Bank of New York would be an understatement.

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Miss me yet, Wall Street?

January 21, 2010

This picture was making the rounds on Wall Street on Thursday, after President Obama proposed limiting big banks'  financial risk-taking. Miss me yet, Wall Street?