Did you ever wonder where all those subprime lenders who made big profits making predatory loans during the housing boom ended up? Think about it: What kind of resume would you have, given that you worked for a discredited company that went out of business after making high-rate, abusive loans More…
On Monday, Peter Wallison of the American Enterprise Institute slams the proposal for a Financial Products Safety Commission, using a Washington Post op-ed to call it elitist and contend it would limit financial choices to sophisticated consumers.
Are consumers “protected” when they are denied the opportunity to buy products
Here’s something to keep in mind as President Obama unveils his financial regulatory overhaul plan today. Baseline Scenario helpfully offers a list of questions that the administration will either address or avoid as it rolls out its proposals. How Obama frames the debate will play a big part in More…
One of the ideas for financial regulatory reform that President Barack Obama will outline today is the creation of a new Consumer Financial Protection Agency, modeled after a proposal from Troubled Asset Relief Program watchdog Elizabeth Warren for a Financial Products Safety Comission. As The Washington More…
What’s up with the Obama administration’s much-vaunted plans for financial regulatory reform? First, The Washington Post reports that an ambitious proposal for a systemic risk regulator — a single agency to regulate and monitor banking and intervene if threats to the financial system emerge — is getting bogged More…
The Obama administration is considering stripping the Securities and Exchange Commission of some its oversight powers, and shifting that responsibility to the Federal Reserve, Bloomberg reports.
The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail.
Even before she poses her first question to Treasury Secretary Timothy Geithner when he testifies before her panel for the first time today, expect Troubled Asset Relief Program oversight head Elizabeth Warren to come under fire. That’s because conservatives have been gunning for Warren, who was an outspoken advocate for More…
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