Category Archives: Regulations and regulators

Bill Black: Republican Candidates Agree that the System is Rigged for the Rich

The Republican candidates for President all made shameless appeals for even more plutocracy, in particular preferential treatment for the rich.

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New York Department of Financial Services Slams Bank Fixer Promontory Group, Hitting it in Its Profits and Reputation

A decision by the New York State Department of Financial Services appears to be finally crimping the wings of this powerfully placed bank fixer. Promontory is being denied access to information that effectively locks it out of a large swathe of consulting work that is important to its business.

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Republican Rank-and-File Lines Up Against Financial Regulation

Let us not kid ourselves that the Democratic party is also for the most part out to gut financial regulation.

The only reason that there is more space between Congressional Republicans and Democrats than usual is the pro-business, pro-bank “blue dog” wing of the Democratic party has gotten deservedly slaughtered in the last two Congressional elections for selling out what used to be the American middle class. So the more progressive-minded survivors are a bigger faction on a relative basis than they once were.

This Real News Network interview with Bill Black covers both a critical slice of the history of financial regulations (or more accurately, its rollback) as well as some of the current dynamics.

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State Officials Try to Hide Their Private Equity Oversight Failures by Asking the SEC to Exceed Its Authority

Nothing like elected officials using letter-writing to a weak agency and asking it to exceed its powers to hide the fact that they aren’t willing to do their jobs. And this shirking of duties is particularly grating since these officials, most important of all John Chiang, the State Treasurer of California, Thomas DiNapoli, the New York State Comptroller, and Scott Stringer, the New York City Comptroller, are powerfully positioned to propose legislation to solve the problem they are trying to fob off on the SEC.

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