‘The banks want to get away with everything, and she is probably one of the linchpins in saying that is going to happen or isn’t going to happen,’ said Liz Ryan Murray, the chairwoman of the foreclosure task force at Americans for Financial Reform. ‘We would like to see her come forward and be more public on what she will and won’t give up.’”
Click here to view this week’s highlights and lowlights in Wall Street Reform – September 24, 2011 – September 30, 2011.
Read AFR’s comment letter in response to regulators posing the questions of whether stable value contracts meet the definition of swaps in the Dodd-Frank Act, and, if so, whether they should be regulated as swaps or given an exemption. The letter points out that stable value contracts have the characteristics of swaps and also pose some of the same risks as swaps do. It does not take a specific position on whether stable value contracts should be subject to all swaps regulation, but does urge regulators to address these dangers by extending business conduct standards to issuers of stable value contracts and also to ensure that issuers of financial guarantees have sufficient resources to back up their promises.
Harmonious international financial regulation is best achieved by the timely implementation of Dodd-Frank-mandated regulations for derivatives. Contrary to claims made by Wall Street and its allies, postponing the implementation of Dodd-Frank rules until the global community reaches a consensus on derivatives regulation would undercut efforts to achieve harmonious financial reform and expose American taxpayers to significant economic risk.
Click here to view this week’s highlights and lowlights in Wall Street Reform – September 17, 2011 – September 23, 2011.
FOR IMMEDIATE RELEASE DATE: September 19, 2011 CONTACT: John Carey at 202-466-1854 john@ourfinancialsecurity.org AFR Statement on Leaked Details of Volcker Rule Washington, DC – Americans for Financial Reform, a coalition of more than 250 national and state organizations working together for strong
Click here to view this week’s highlights and lowlights in Wall Street Reform – September 10, 2011 – September 16, 2011.
Click here to view the full letter to Senators about the importance of full funding for the SEC and CFTC.
Questions Arise About UBS Risk Controls Alistair MacDonald and Deborah Ball (WSJ – subscription required) September 16, 2011 “Risk-management and control specialists are again questioning the banking industry’s ability to manage risks and regulator’s efforts to police the sector after a UBS AG trader lost
Global Standards Sought on Rules Victoria McGrane (WSJ – subscription required) September 16, 2011 “Treasury Secretary Timothy Geithner in a letter Wednesday assured Congress that the Obama administration and federal regulators are working with their international counterparts to see they adopt similar rules requiring market