ShareToday, I received a press release from the complete list of federal government regulators of the financial industry which all but ordering banks to lend to small businesses. Clearly, regulators are concerned as comments by Marc Chandler intimated in my last post.
The regulators supporting the press release were the following: The Board of Governors of [...]

ShareFor your amusement as well as your understanding of critical banking and finance reform issues. The funny thing about Colbert and Jon Stewart, his partner in crime at Comedy Central, is that they have a certain bread and circus appeal to them, don’t they.  Is that what it takes to get Americans to take real [...]

ShareBelow is a partial list of December FDIC enforcement decisions and orders. I have only included cease-and-desist orders, prompt corrective action notices and termination of insurance orders as these are the signs of banking system distress.
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and [...]

ShareThis is a great graphic showing the money and asset flows in the AIG bailout that makes it far easier to understand why people are calling the AIG bailout a backdoor bailout of AIG’s counterparties.  Take a look.

Source
CHART OF THE DAY: How The AIG Bailout REALLY Worked – Clusterstock

ShareI just received this document from an interested reader. It is a request by Congressman Darrell Issa for a subpoena to be issued in order to facilitate the investigation surrounding the AIG cover-up. Apparently, evidence has now surfaced about Federal Reserve Chairman Bernanke’s role in the AIG saga that is germane to this issue. [...]

ShareIn November 2008, the SEC approved a request by American International Group (AIG) to keep secret until November 2018 documents which reveal securities behind the brewing scandal over its bailout by the Federal Reserve.
A copy of the SEC’s order revealed that the SEC’s Division of Corporation Finance ordered this "excluded information" not to be [...]

ShareThis is pretty major stuff: Goldman recorded negative compensation in Q4 as zero bonuses are accruing for the quarter.
Reuters says:
The bank recorded negative compensation expense in the fourth quarter because of the contribution to Goldman Sachs Gives, the firm’s charitable arm.
The compensation total was far below the record $20.2 billion the firm paid in 2007, [...]

ShareToday President Obama is set to propose wide-ranging moves on bank regulation first proposed by his economic advisor Paul Volcker, the former Federal Reserve Chairman. Details of the proposal have yet to be released. However, the focus is expected to center on strict bank size limits and a limitation on proprietary trading at regulated banks [...]

ShareThis has been making the rounds. Colbert at his best.

ShareThis is a post which I originally published at New Deal 2.0.
Ed mentioned yesterday in his post Credit crises, market equilibrium, economic policy and fiat currencies that both the neoclassicals and the Obama Administration believe the financial crisis has been some sort of temporary liquidity crisis; fix the financial plumbing and it’s business as usual [...]