regulation

From the London School of Economics website: Below is an audio recording of approximately 78 minutes where Gillian Tett takes us inside the shadowy world of complex finance and derivatives and explains how the business of slicing and…

Today I saw two blurbs about Eastern Europe which I want to pull together with a bit of added commentary about the automakers in the U.S.  The first blurb had to do with the Baltics and their probable downgrade to junk by the ratings…

This is a thought experiment, so bear with me. I have written repeatedly how I felt that the U.S. Government's plans to save the banking system were not adequate in the face of a severe capital shortfall in banking. On one level, I…

Below you can watch a video clip of Congressional Oversight Chairperson Elizabeth Warren's introductory remarks at a hearing today on Capitol Hill. Afterward, Treasury Secretary Tim Geithner responds in a 10-minute open statement.

Simon Johnson, a former IMF Chief Economist, who blogs over at the Baseline Scenario, is testifying before Congress today about 'Too big to fail' financial institutions.  Below is a video in which he tells Bloomberg his thoughts on the…

This comes via Marc Chandler of Brown Brothers Harriman and is an even-handed review of what just happened: As widely expected FASB modified fair value accounting rules. The key seems to be for assets for which there is not a market. The…

I am sure you realize by now that I believe Larry Summers is soft on derivatives, soft on regulation and soft on banking executives.  He exemplifies the self-regulatory zeal of the previous boom.  Given his indifference to responsible…

Story from Investor's Business Daily: Treasury Secretary Timothy Geithner called for "new rules of the game" on Thursday, including a systemic-risk regulator, stronger capital cushions for banks, and more disclosure from hedge funds.…

Everyone is talking about marking to market as if its elimination is a silver bullet. So far as the economics goes, I am not sure that mark to market is such a big deal. The whole point of the banks is to make loans and hold them. Look at…

The FSA has been on the attack of late. First they warned bankers that heavy regulation was in the offing. Now they are directly accusing Gordon Brown, former Chancellor of the Exchequer and now Prime Minister, of aiding and abetting a…