London’s “Whale” Loses $2 Billion for JPMorgan BY MARLENE Y. SATTER, ADVISORONE May 11, 2012 “These losses underline the need for a strong Volcker Rule to prevent risky proprietary trading,” Americans for Financial Reform said in a statement. “Regulators need to get the rule done, and
FDIC Seeks to End ‘Too Big to Fail’ Bailouts ABC News May 10 Marcus Stanley, policy director of Americans for Financial reform, a public interest coalition in favor of financial reform based in Washington D.C., said there were still unresolved questions about these complex institutions.
Wall Street Sues for Pre-Crisis Rules, CFTC’s Chilton Says By Silla Brush and Steven Sloan “They want us to write off the 2008 financial crisis as an aberration and ignore countless reputable scholars who’ve found that the costs of opaque, unregulated derivatives markets are borne
Banks divided on loan rules Federal agency pushes ability-to-pay mortgage tenet Carter Dougherty | Bloomberg News “This rule is aimed directly at the core deficiencies in the mortgage market that produced unsustainable loans, an inflated housing market, and resulting widespread economic hardship,” Americans for Financial Reform, a
Cordray divides banks with ability-to-repay loan rule – Carter Dougherty and Clea Benson (Bloomberg News) May 1, 2012 “Richard Cordray wants lenders to adhere to the most basic tenet of banking: making sure borrowers can repay. Getting them to agree on how is proving tougher…
Bankers Assault on Financial Reform -Gerald Epstein: New financial regulations contained in the Dodd-Frank law are being gutted or delayed by regulators and Congress – Transcipt, Paul Jay (The Real News Network) April 30, 2012 “And this kind of bill [H.R. 3336the Small Business Credit
Tea Party Congressmen Accept Cash From Bailed-Out Bankers – Heidi Przybyla and Phil Mattingly (Bloomberg News) April 30, 2012 “Tea Party favorites such as Stephen Fincher of Tennessee were swept into Congress on a wave of anger over government-funded bailouts of banks. Now those incumbents
Credit Default Swaps Made European Debt Crisis Worse: Study – Mark Gongloff (Huffington Post) April 27, 2012 “While many may disagree with the concept that speculation in CDS moves markets, it’s a lot harder to disagree with that. Unless, that is, you are on Wall
Lehman elite stood to get $700 million – Walter Hamilton, Andrew Tangel and Stuart Pfeifer (Los Angeles Times) April 27, 2012 “Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm
House Passes Bill to Exempt Small Banks from Swaps Rules (American Banker) April 25, 2012 “The House on Wednesday easily approved a bill that would provide small banks an exemption from clearing requirements for swaps under the Dodd-Frank Act…The bill was opposed by Americans for