“THIS IS NOT SOME OPINION! This is a mathematical fact!”
In a now-infamous Aug. 9, 2011, taping, a cable news host has just boiled over at his assembled panel of guests. He’s yelling, at full volume. “I’ve been coming on TV for three years doing this,” he bellows, exasperated. “And the fact of Read More
The United States Federal Reserve, which is charged with overseeing the financial system, is not convinced that there’s any hedge fund that could endanger the entirety of U.S. capitalism, and therefore it’s not convinced that the funds need Fed oversight.
Reuters reports on the Fed’s assessment, citing a person familiar with the Fed’s Read More
Former GE CEO and legend of American enterprise Jack Welch talked with Charlie Rose about what Republican policies might work.
For starters, he’s not in favor of lavishing hundreds of millions of dollars on Elizabeth Warren and the new Consumer Financial Protection Bureau.
Welch: Do I cut that silly consumer protection agency’s budget when they Read More
Apparently having succombed to nostalgia for the hardscrabble, rough-and-tumble credit markets of 2008 — when men were men, and mortgage bonds were crammed into ever-swelling packages — Bank of America is now seeking to meet elevated capital requirements by throwing hard-to-sell assets into new securities.
Bloomberg reports that BofA is using a complicated Read More
The Securities and Exchange Commission won’t be implementing a new rule that makes it easier for shareholders to replace directors at companies until a federal appeals court decides whether the rule is legal.
Lobbying organizations the U.S. Chamber of Commerce and the Business Roundtable have filed a legal challenge Read More
Michael Lewis comes out with an interesting take on the future of proprietary trading in the wake of the Dodd-Frank financial reform law. Lewis points out that even though financial institutions had lobbied hard to keep a loophole in financial reform that allows banks to invest up to 3 percent of their own Read More
JP Morgan Chase, the U.S.’s second-largest bank by assets, is moving its proprietary trading desk over to its asset-management business in hopes that switching the traders to a new department will put it in line with new regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The New York Times reports Read More
Regulators are holding off on assuming the power to unwind struggling financial institutions that pose significant systemic risk, Reuters reports.
The Federal Deposit Insurance Corporation said it needs more time to figure out how it’s going to implement new rules governing the orderly dismantling of “too-big-to-fail” firms, partly because some members of the Read More
Bank of America Merrill Lynch today announced that it’s getting into the business of clearing derivatives, which it expects will be quite lucrative. The new business segment will be called Global Futures and Derivatives Clearing Services (GFDCS), which will be part of the Global Markets Financing and Futures platform (GMF&F).
The company said Read More
Two of the biggest names in the banking space — JPMorgan Chase CEO Jamie Dimon and Bank of America head Brian Moynihan — spoke today on the primary issues affecting their companies and shed some light on what their stewardship will look like going forward.
Appearing as the keynote speaker at a conference hosted by Read More