Elizabeth Warren Declares War on SEC Chairman Mary Jo White
Elizabeth Warren just put SEC Chairman Mary Jo White firmly in her crosshairs.
Read more...Category Archives: Banking industry
Bill Black: Sorkin on the Street’s Surge of Suicides – Ignoring the Obvious
Predictably, it never occurred to Andrew Ross Sorkin that being put in impossible ethical positions could be a cause of some of of Wall Street’s recent suicides.
Read more...Memo to Readers: If You Want to Beat Big Finance, You Need to Be Able to Take the Fight to Their Terrain
We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...Perry Mehrling: Volcker Alliance Describes How Regulatory Silos, and Also Intellectual Silos, Hold Back Financial Reform
A report by the Volcker Alliance on financial reform is readable and meaty, and curiously dropped from media sight.
Read more...Dick Fuld Continues to Exhibit Advanced Case of Wall Street CEO Derangement Syndrome
It appears that having the financial crisis analogue to the captain of the Titanic carry on in the stereotypical super-entitled Wall Street CEO manner was too much for the tender sensibilities of CNBC.
Read more...Perry Mehrling: Derivatives Remain a Blind Spot in the TBTF Debate
Current proposals to deal with the too big to fail problem fall way short as far as disarming derivatives risk is concerned.
Read more...Michael Hudson: Ukraine’s “Operation Vulture” and Labor Protests
Hudson’s so-called “Operation Vulture,” the strip-mining of what little is left of a functioning economy in Ukraine, comes straight out of the neoliberal playbook.
Read more...SEC Vindicates Deutsche Bank Derivatives Whistleblowers Eric Ben-Artzi and Matthew Simpson
Three SEC whistleblowers have been proven right in charging Deutsche Bank with misreporting its biggest derivatives risk,. the bank, predictably, looks to have gotten off easy.
Read more...A Parallel Currency for Greece: Part II
Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]
Read more...Ilargi: Mario Draghi’s Slippery Downward Slope
Mario Draghi is more and more visibly meddling in politics, yet another reminder that central bank “independence” is a fig leaf.
Read more...SEC Commissioner Kara Stein Issues Blistering Dissent on Waivers for Bank Recidivists
SEC Commissioner Kara Stein strikes again, this time to object to the SEC giving waivers to recidivist bank bad actors.
Read more...Matt Taibbi on Democracy Now: Banks Admit to Crimes, Pay $5 Billion, And Still No One Goes to Jail
So why shouldn’t banks admit to criminal conduct? They get slap on the writs fines and no one goes to jail.
Read more...Barney Frank Denies Earlier Reports That He Called for Weakening Dodd Frank Private Equity Reforms
Barney Frank says that he stands by Dodd Frank registration of private equity firms, walking back a widely-reported earlier remark that gave the industry great cheer.
Read more...Wall Street’s Nemesis, Benjamin Lawsky, to Resign in June
Yesterday was a sad day for American citizens. Benjamin Lawsky, the Superintendent of the New York State Department of Financial Services, announced that he was resigning in June.
Read more...Thomas Palley: Fraternity of Failure – The Alternative, as in Hillary Clinton, Version
Hillary Clinton does not want to talk about past economic controversies.
Read more...