Morning Money has posted a Goldman Sachs research report, and it seems the investment bank is spooked by just one thing in the financial regulatory reform bill: Sen. Blanche Lincoln’s (D-Ark.) derivatives spin-off language.
To the extent that strains in European sovereign debt and short-term money markets cause broader
The House and Senate have each passed versions of financial regulatory reform, and it will be up to a conference committee comprised of members of both bodies to create a unified bill. On some fronts, the House and Senate bills aren’t far apart. On others, there’s significant daylight between them. More…
There’s a ton of last-minute changes currently happening to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill. Below are my updates on the most important ones.
First: No cloture vote at 2 p.m. The Senate will vote on amendments instead, and the bill will still be up for debate. Notably, More…
President Obama’s decision not to campaign for Sen. Arlen Specter (D-Pa.) ahead of his tough primary tonight has been the subject of media chatter in the last few days. But Specter isn’t the only candidate in tonight’s primaries who has received the hands-off approach from More…
Brian Beutler at Talking Points Memo reports that Democrats plan to hold off on altering Sen. Blanche Lincoln’s (D-Ark.) derivatives language until after her primary challenge on Tuesday.
Democrats reportedly want to weaken or strike Lincoln’s provision to force banks to spin off their derivatives desks. Everyone from Sen. More…
Alan Schram at Seeking Alpha takes some notes at the annual conference of Berkshire Hathaway, the investment firm run by the “Oracle of Omaha,” Warren Buffett. It’s mostly run-of-the-mill stuff, but this passage caught my eye.
Derivatives. The usefulness of derivatives is overrated. They have some utility but have
On Friday, Sheila Bair — the head of the Federal Deposit Insurance Corporation, which performs banking oversight and consumer protection as well as guaranteeing most bank deposits — wrote a letter to Sen. Chris Dodd (D-Conn.) and Sen. Blanche Lincoln (D-Ark.) urging them not to force banks to spin off More…
Senate Minority Leader Mitch McConnell (R-Ky.) is softening his criticism of Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal, which Democrats plan to move to the floor on Monday. At the same time, Sen. Blanche Lincoln’s (D-Ark.) derivatives reform proposal goes into markup this morning at the Senate More…
Last week, J.P. Morgan announced that it made a first-quarter profit of $3.3 billion on revenue of $28.2 billion, meaning for every dollar of business the bank did, it kept 12 cents as profit. This morning, Goldman Sachs — the Wall Street giant charged by the Securities and More…
At the end of last week, the Obama administration reportedly told Senate Democrats to drop the $50 billion liquidation fund — often referred to as a “bailout fund” — from the financial regulation bill as a concession to Republicans. Senate Democrats broached the deal with Republican leadership. They More…
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