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 [...]
Financial Institutions's archives
Unprecedented moral suasion from regulators on small businesses lending
Feb
Eliot Spitzer on Stephen Colbert
Feb
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 [...]
272 views
December’s FDIC cease and desist and other administrative orders
Jan
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 [...]
374 views
Chart of the day: Clusterstock – How the AIG bailout worked
Jan
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
743 views
Breaking: Darrell Issa asks for a subpoena in AIG bailout cover-up
Jan
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. [...]
538 views
AIG Documents protected until 2018 now revealed
Jan
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 [...]
Zero bonuses at Goldman
Jan
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, [...]
214 views
Obama backs Volcker regulatory plan in dramatic about face
Jan
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 [...]
Stephen Colbert: The Word – Honor Bound
Jan
ShareThis has been making the rounds. Colbert at his best.
So what are banks for, anyway?
Jan
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 [...]
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- edwardnh: @michaeljung: The @SmartMoney comment is not true. The labor force participation rate was up both SA and unadjusted.
4 days agoedwardnh: @SmartMoney actually that's not true on labor force. rate fell because of seasonal adjustments http://bit.ly/bzI1RR
4 days agoedwardnh: Unprecedented moral suasion from regulators on small businesses lending: Credit Writedowns http://bit.ly/avYp3H
4 days agoedwardnh: Chandler: Policy makers are repeating the mistakes of the 1930s: Credit Writedowns http://bit.ly/aZBjs6
4 days agoedwardnh: Just added two charts: Unemployment number decline is all about seasonal adjustments: Credit Writedowns http://bit.ly/bzI1RR
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