bert ely

Kevin Drum at Mother Jones applauds the idea of a single bank regulator, a proposal The Washington Post reports is now under consideration by the Obama administration.
For what it’s worth, I’d say that having a single bank regulator is long overdue.  The current structure not only doesn’t make sense, but allows banks to shop around [...]

Now it’s the life insurance industry’s turn for a bailout, The Wall Street Journal reports today. The Treasury Department has approved allowing life insurance companies to participate in the Troubled Assets Relief Program, according to The Journal. A formal announcement should come within days. Life insurance companies that own federally chartered banks and thrifts will [...]

When the Office of Thrift Supervision failed to notice a meth addict was mortgage supervisor at Washington Mutual, its days might have appeared numbered. But thanks to insurance firms looking to pick up government bailout money, it could rise again.