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Financial Reform Legislation Misses the Mark on Derivatives
The provisions of the financial reform legislation initially proposed by Sen. Blanche Lincoln that would require banks to spin off a portion of their derivatives activities into separately capitalized...
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Large US Banks Scrape By Under Basle 3
The new so-called Basel 3 standards for capital levels the Basel Committee of international banking regulators issued today (http://www.bis.org/press/p100912.htm) should not be problematic for the...
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Muddy thinking mucks up economic recovery
Policymakers attempting to right the economy are producing a plethora of contradictory actions that work against each other instead of a reasoned, consistent policy. One area in which this is visible...
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Bank of America disclosures point to further losses for mortgage bankers
The question of how much banks may owe investors in mortgage loans sold by the major mortgage banks (Bank of America, Wells Fargo, JPMorgan, Citigroup and Ally) is taking a step closer to closure, but...
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The Volcker Rule: Fixing Problems We Don’t Have
One would hope that the Volcker rule, which will have far-reaching effects on the financial services industry on these shores, is founded on a sound understanding of what went wrong during the crisis...
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Mortgage Litigation By States To Weigh On Fourth Quarter
The Attorneys General of the 50 states appear to be closing in on a settlement with the major mortgage lenders with respect to improper procedures in originating and servicing loans. The settlement...
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Is there a future for bank earnings?
Received wisdom has it that banking is moribund in the US. Growth is permanently stalled due to a combination of regulatory moves that limit fees (on credit and debit cards and deposit overdrafts),...
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To taxpayers: Don’t Break Up the Banks
Breaking up large banks risks increasing rather than reducing systemic risk and the cost to taxpayers of that risk. It is, admittedly, an unpopular view as more politicians and regulators take up the...
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