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.
Read more...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.
Read more...An overview of how the Greek crisis is stressing international institutions as well as (sadly and predictably) Greece itself.
Read more...Why financial firm IT is a bigger and more imminent source of systemic risk than you might think.
Read more...“We have 15 years to avert a full-blown water crisis.” Why stopping privatization of water will help.
Read more...This Real News Network segment gives a detailed assessment of what Dodd Frank did and did not accomplish.
Read more...Yellen tries conning journalists and the Great Unwashed Public in her defense of preserving the current level of Fed dividends to banks.
Read more...Bankers whinge about how much tougher their lives are in the post-crisis world. That is no small degree to central banks’ efforts to prop them up having caught up with their bottom lines
Read more...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.
Read more...Goldman Sachs wields more power in the Eurozone than you think. And it’s not hard to guess who benefits.
Read more...Why the coming bank bail-ins in Greece are going to be far more costly in economic terms than most observers imagine.
Read more...The answer to a widely-discussed Social Security scenario is not as tidy as has been assumed.
Read more...Promontory Group, which plays a major role in helping financial firms tilt the regulatory playing field in their favor, is about to get a long-overdue comeuppance.
Read more...The California drought is exacerbating severe, structural problems with water use in the West.
Read more...If the Eurozone had a proper banking union, Greek banks would not now be in crisis.
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