The Justice Department’s report on the FBI’s handling of the Clinton email scandal and other actions in advance of the 2016 election is already a political hot potato. The report has President Trump supporters saying “Told ya so” and the general public questioning how the DOJ and the FBI runs its departments. And rightfully so…. [Read More]
Which Is It? Big Banks Get a Break or Here Comes Another Recession?
For some time, many regulators have viewed the Volcker Rule (part of the Dodd-Frank law which was put in place after the 2008 financial crisis) as too complicated to enforce. Former Chairman of the Fed, Janet L. Yellen, and present Chairman, Jerome H. Powell, concur. The rule put in place to prevent banks from making… [Read More]
Crapo Spin: Too Big to Fail … Too Small to Succeed
Senator Mike Crapo (R-ID), Chairman of the Senate Banking Committee, spearheaded a major rollback of the 2010 Dodd-Frank Act: The Economic Growth, Regulatory Relief, and Consumer Protection Act. The Crapo Bill was a recent topic of hot debate which had passed in the Senate, has now passed unchanged in the House, and has morphed into the Bank Lobbyist… [Read More]
WLIW and WNET PBS Champion Playing By the Rules: Ethics At Work
Ethics is essentially doing the right thing regardless of other’s expectations. Doesn’t seem real complicated or difficult. You’d think that doing the right thing is something we would all instinctively do, yet given the magnitude of individuals and companies who so often do not “do the right thing,” teaching ethics, expecting ethical behaviors and applauding… [Read More]
The Fannie and Freddie Credit Merry-Go-Round
Remember the merry-go-round we rode when we were kids? You went round and round and tried to catch the prize, a brass ring. If you didn’t catch the brass ring – you wanted to get down but the merry-go-round kept going. Fannie and Freddie remind me of that merry-go-round as once again they appear to… [Read More]
Do Financial Regulations Actually Work Or Are We Kidding Ourselves!?
In the last 10 years, the collapse of so many of our financial institutions and the subsequent bailouts prompted the passing of regulations that many hoped would cure further bank and corporate mishaps and prevent scandals and fraud. Yet did they? An article by three professors, Luzi Hail, PhD., the Wharton School, Ahmed Tahoun, PhD., … [Read More]
A Fairy Tale According to Former DOJ Prosecutor Nicolas Burton
A recent Washington Post article title recently caught my eye: Five Myths About White Collar Crime. As I read the article, all I could think of was that this is a fairy tale by Grimm. Surely no one would believe such dribble! Then I realized yes they would, they have and they will continue to do so unless… [Read More]
Busting the Financial Regulations Myth! Anat Admati’s Take
The caption of the photo of a founding father facing the New York Stock Exchange caught and held me. It stated, “It takes a willful blindness to liken financial crises to natural disasters.” I was hooked. Wall Street, our government and politicians have repeatedly, willfully and wrongfully branded the 2008 financial crisis a natural disaster,… [Read More]
Do We Have Government by Goldman?
As a headline of an article by The Intercept suggests? A funny thing happened on the road to the White House. A President who had railed against Goldman Sachs and other TBTF and proclaimed, “For too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne… [Read More]
What an Honor to Present to SEACEN in Kuala Lumpur!
I recently spoke in Kuala Lumpur, Malaysia at a high-level conference on financial stability and supervision attended by top executives from the central banks of nineteen countries. The conference was sponsored by The South East Asian Central Banks (SEACEN) Research and Training Centre, based in Kuala Lumpur. SEACEN was established as a legal entity in… [Read More]
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