Today, Bloomberg’s Amity Shlaes has an evocative and delightfully wrongheaded column on the best way to police and regulate markets. She cites the efforts to stamp out bad behavior on OMGPOP, a social network where tween girls play games and gossip. Naughty young men were using inappropriate language, Shlaes More…
Testifying before the Financial Crisis Inquiry Commission this afternoon, Warren Buffett — the legendary value investor who heads Omaha-based investment giant Berkshire Hathaway — defended the behavior of the country’s credit ratings agencies and his own role in them, while acknowledging that the model under which they operate creates a More…
Sunlight is the best disinfectant. For that reason, Rep. Barney Frank (D-Mass.) has endorsed airing on C-SPAN the conference committee’s negotiations, as the panel of legislators merges the House and Senate versions of financial regulatory reform. But wait! Now it seems the conference committee might not air negotiations — just More…
Tucked in this New York Times piece on Wall Street’s reaction to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill, now moving into conference committee for reconciliation with the House version, an anonymous Wall Street worker guesses at the bill’s impact on banks’ bottom lines.
Many executives spent the
On Monday, with Sen. Harry Reid (D-Nev.) promising a final vote on financial regulatory reform in the next few days, rather than weeks, thousands descended on K Street in Washington, D.C., to lobby the lobbyists.
[Economy1] The union giants SEIU and AFL-CIO as well as community organizing umbrella group National More…
On Tuesday, the Senate voted in a landslide to approve the Audit the Fed amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal. Sen. Bernie Sanders (I-Vt.), the author of the amendment, has directed the Government Accountability Office to publish a report on the Fed’s books by Dec. 1, More…
After yesterday’s market boomerang — when the Dow Jones Industrial Average cratered nearly 1,000 points before rebounding, all in a matter of minutes and possibly because of a computer trading system error — Sens. Mark Warner (D-Va.) and Ted Kaufman (D-Del.) say that they want an inquiry into high-frequency trading. More…
Since the deadly mining blast in West Virginia last month, Massey Energy has insisted that its safety record sets the industry standard. But at least one financial risk management analyst disagrees. RiskMetrics Groups is telling its clients this week to vote against three of Massey’s sitting board members More…
Today, the Financial Crisis Inquiry Commission continues its fourth round of hearings on the origins of the recession, with the current and former Treasury secretaries, Timothy Geithner and Henry Paulson, speaking on the shadow banking system — comprising financial companies like Goldman Sachs that are technically not banks because they More…
A bit of financial regulatory reform process math: Today, Senators are debating Sen. Barbara Boxer’s (D-Calif.) symbolic amendment ensuring that no taxpayer dollars go to further Wall Street bailouts as well as Sen. Chris Dodd (D-Conn.) and Sen. Richard Shelby’s (R-Ala.) agreement dropping the resolution authority fund from the More…
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