In a speech given at the SW Graduate School of Banking yesterday evening, Richard Fisher, the president of the Federal Reserve Bank of Dallas, blasted the financial regulatory reform effort currently in conference committee as ineffectual. In particular, Fisher said the bill would do nothing to end the issue More…
There are three amendments to watch today before Sen. Harry Reid (D-Nev.) calls another vote to end debate of Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill.
The first is Sens. Jeff Merkley (D-Ore.) and Carl Levin’s (D-Mich.) bill strengthening the Volcker Rule, which would force banks to separate their More…
Today, the Federal Deposit Insurance Corporation, the independent federal agency headed by Sheila Bair that regulates banks and insures deposits, announced it plans to ask a number of big banks to write “living wills” or “funeral plans,” which it describes as “analysis, information, and contingent resolution plans that address More…
Speaking at the Economic Club of Minnesota today, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota argued for taxing banks in proportion to their risk — a measure not currently in Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal:
Yesterday evening, Senate Democrats began the procedural endgame to their push to reform the regulation of the financial sector. In a 57-41 final vote, with Democrat Sen. Ben Nelson (Neb.) joining Republicans in opposition (and Majority Leader Harry Reid (D-Nev.) switching his final vote for procedural reasons), the Senate failed More…
Mike Konczal of the Roosevelt Institute and the blog Rortybomb has a useful chart and paper outlining what to demand from Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill — the provisions that will ensure financial security — along with the chances of each provision making it into the More…
Senators agree that the banks are too big. But multiple bills and possible amendments circulating on the Hill offer different solutions to that problem. Here is a primer on the main proposals.
The American Financial Stability Act: Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal is due to be More…
The Huffington Post has two stories on various politicians and policymakers warming to the idea of breaking up big banks and possibly bringing back parts of Glass-Steagall, an act that prohibited companies from mixing insurance, commercial and investment banking functions that Congress repealed in 1999, making way for today’s More…
Following last night’s speedy passage of sweeping finance reforms in the Senate Banking Committee, much of the focus has been on the Republicans’ strategy to take the fight over the bill to the Senate floor, rather than pushing amendments during what was supposed to have been a long-drawn More…
They weren’t kidding when they said this evening’s markup of finance reform legislation would be a speedy affair.
The Banking Committee took less than an hour to pass the bill — along a party-line vote of 13 to 10 — and send it to the chamber floor. The quick process More…
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