Category Archives: Regulations and regulators

Big US Banks Make Laughable Excuses for Preserving Failed Universal Bank Model

Count on the banks to keep trotting out tired excuses for their too-big-to-faill ways.

United Passenger “Removal”: A Reporting and Management Fail

The reporting on United’s aggressive removal of Dr. David Dao has been misleading and also neglected the depth of management lapses.

Wells Fargo Fake Accounts Investigation Whitewashes Glaring Risk Management Failures

Wells’ law firm Sherman & Sterling issues a tough-sounding report on the fake accounts scandal that is really a coverup for its board.

Trump’s Idea of Running Government Like a Business is Bad for Citizens

Michael Hudson gives a high level debunking of a pet Republican canard: that government should operate like a business.

Goodbye Fiduciary Rule? Department of Labor Delays Implementation Until June

Implementation is now delayed until June, yet the steps many firms have taken to comply suggest the fiduciary rule will survive in some form.

President of Richmond Fed Leaks Insider Information and Gets to Walk Free

Bill Black discusses the travesty of the kid glove treatment of former Richmond president Jeffrey Lacker in a leak of FOMC information.

Small California Towns Are Facing Off Against Oil Companies — And Winning

California towns are winning David. v. Goliath battles with oil companies.

Richmond Fed’s Jeffrey Lacker Departs Due to Leak: Defenestration as Coverup?

In a stunning development, Richmond Fed president Lacker resigned over a leak under investigation since 2012. The details are not pretty.

Italian Banks: Not Quiet on the Eastern Front

Never before have I seen the condition of a bank’s finances (in this case liquidity) described as “hemorrhagic”. Italians beware!

Why Has Italy’s Banking Crisis Gone Off the Radar?

An update on Italy’s festering bank crisis.

MIchael Hudson: The Democracy Collaborative

Michael Hudson gives new riffs on his regular themes: classical economics and its perversion by Hayek, rentier capitalism, debt jubilees.

Why Is FTI Consulting Making It Look Like Apollo Overpaid Its Real Estate Execs $50 Million?

FTI Consulting appears awfully casual about how it handles confidential client information, and in the process has done Apollo no favors.

Trump Can’t Save Coal

Why Trump isn’t bringing coal jobs back.

Wells Fargo Gets An Additional $110 Million Wrist Slap Over Fake Accounts Scandal

Wells will wind up paying far more in consumers via a private settlement of its fake account scandal than regulators made it cough up to them

CalPERS, CalSTRS, Other Investors Have Indemnified Private Equity Criminal Conduct Even Though Fiduciary Counsels Say No

CalPERS board member JJ Jelincic confirms yet another major lapse by private equity investors.