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Paul Volcker is testifying before the Senate Banking Committee today on financial regulatory reform. Recently, the Obama introduced reform proposals inspired by Volcker and now being dubbed The Volcker Rule.
The Wall Street Journal has done a good job over the past two weeks of outlining the internal politics, details and potential effects of the Volcker [...]

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That’s the gist of yesterday’s post by James Pethoukoukis.  The column says:
A historic victory, really. It is hard to overstate just how “blue” a state Massachusetts is. Obama won it by 26 percentage points in 2008. Until now the state’s 10 U.S House members, two U.S. senators and all statewide officers were Democrats. The state [...]

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Today 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 [...]

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I don’t know quite what to make of the Paul Volcker interview published late last week in Business Week.  In case you missed it, Business Week published a frank interview of former Federal Reserve Board chairman Paul Volcker with media giant Charlie Rose the day before Christmas Eve. In it, Volcker talked openly of his [...]

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As we head into the New Year, I am trying to look back at the last one with some semblance of a coherent interpretation of events that leads to a strategic vision of the future.  I have already touched on stimulus, kleptocracy and crony capitalism as dominant themes for the year 2009. 
These posts have [...]

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Steven Pearlstein – Out from under TARP, banks are now free to fail again – washingtonpost.com
France Matches U.K. With 50 Percent Bonus Tax – DealBook Blog – NYTimes.com
FT.com – End bankruptcy priority for derivatives, repos and swaps
Bernanke Stonewalls and Prevaricates in Response to Questions by Sen. Bunning – Yves Smith
FT.com – [...]

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A quick note for those subscribing via the free daily e-mail newsletter. I am looking signing up new readers via FeedBurner as the service has improved dramatically. If you are using FeedBlitz, please unsubscribe and subscribe instead to Feedburner at this link. There is no change in the weekly.
Cheers.
Edward

Americans Owe Less, but That’s Not Entirely [...]

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Below is the latest from John Mauldin via his weekly newsletter. John expects a double dip recession as I do. Here he talks about what I call structurally high private sector unemployment i.e. unemployment in the private sector that cannot be diminished in the medium-term without some serious government action.  As usual, I stress the [...]

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James Montiers Reading List – World Beta (Hat tip Tracy Alloway)
Santa’s not so little helper: Today’s the busiest online shopping day of the year. So are they ready at the biggest grotto this side of Lapland? | Mail Online (Great pictures of Amazon’s warehouse.)
FT Alphaville – Tracy Alloway – How do you say [...]

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Below is another great article from John Mauldin via his weekly newsletter, this time featuring John Hussman who is talking double dip and depression. My last post shows I am very concerned about this scenario – which I see as likely – and the parallels to 1930. At this point, I don’t see a lot [...]