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…
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
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.
Mike’s piece today on the failure of Congress to pass a mortgage cramdown bill — which would allow bankruptcy judges to modify loans and is a major element of the Obama administration’s plan to deal with the foreclosure crisis –clearly demonstrates the continued clout of banks and the cowardice More…
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 More…
Just a few months ago, after the failures of Washington Mutual and IndyMac Bancorp shook the financial world, industry consultant Bert Ely would have bet it was time to shut down the Office of Thrift More…
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