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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: bank regulation

bank regulation stories: 62 news summaries

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analysis

Will the Real Chris Dodd Please Stand Up?

Senator part populist, part bank ally

Mar 27, 09 12:38 PM CDT
(Newser) - Chris Dodd is a man of contradictions, writes David Whitford for Fortune. The Democratic senator portrays himself as a populist; he’s passed consumer-protection and family-issues laws, and he staunchly opposed the bankruptcy bill. But he’s also received loads of cash from financial companies, including AIG, and... More »

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Chris Dodd • AIG • campaign contributions • Senate Banking Committee • bank regulation

(Newser) - Tim Geithner today proposed a major expansion of federal regulatory powers, reports the Washington Post. In testimony before Congress, the Treasury chief called for hedge funds, derivatives markets, private equity firms, and major insurers like AIG to be brought under strict federal supervision for the first time. His plan, which... More »

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private equity • derivatives market • hedge fund • Treasury Department • financial institutions • bank regulation • Obama administration • financial crisis • Timothy Geithner

 Geithner Asks Congress 
 for Broad Takeover Powers 

Defends actions during AIG bailout

Mar 24, 09 10:37 AM CDT
(Newser) - Timothy Geithner today asked Congress for expanded power to take the helm of big, failing  institutions like AIG and wind them down in an orderly fashion, Reuters reports. “AIG highlights broad failures of our financial system," Geithner said in unusually spirited testimony before the House Financial Services Committee.... More »

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Ben Bernanke • testimony • AIG • Treasury Department • bank regulation • Obama administration • financial crisis • Timothy Geithner

 Feds Seek Expanded Power 
 to Seize Shaky Companies  

Treasury sec should be able to seize non-bank firms, says administration

Mar 24, 09 6:00 AM CDT
(Newser) - The Obama administration is expected to ask Congress for expanded powers that would let the Treasury secretary seize insurers, hedge funds, and other non-bank financial companies whose failure would imperil the economy, reports the Washington Post. While negotiations are ongoing, the plans to expand Treasury authority would represent a major... More »

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AIG • Treasury Department • regulation • bank regulation • Obama administration • Treasury secretary • financial crisis • Timothy Geithner

(Newser) - Even as the financial crisis rages, Ben Bernanke says it’s time for broad regulatory reforms to stem future crises. Bernanke said today “too big to fail” institutions should be more tightly watched, perhaps by his Federal Reserve. He also admitted that the US hadn’t been prudent with... More »

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Ben Bernanke • Federal Reserve • credit crisis • economy • bank regulation • financial crisis

Madoff Scandal Turns Up Heat on Financial Advisers

Loophole lets Madoff types profit from bad advice, they say

Jan 21, 09 3:53 PM CST
(Newser) - Wall Street advisers and brokers are tussling over the details of a looming regulatory overhaul as Washington takes steps to prevent another Bernard Madoff scandal, Bloomberg reports. Advisers want brokers who counsel clients to be subject to the same oversight they’re under; currently, their brokerage counterparts can profit by... More »

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Wall Street • Merrill Lynch • SEC • oversight • investment • regulation • brokerage • bank regulation • brokers • Obama administration • President Obama • Bernard Madoff • financial adviser

Interview

SEC Chair:
At Least
I Didn't Panic

Cox defends record; failure to nab Madoff an 'inexplicable asterisk'

Dec 24, 08 8:56 AM CST
(Newser) - Christopher Cox is proud that he’s done next to nothing in the face of the financial meltdown. “What we have done is stay calm, which has been our greatest contribution,” he told the Washington Post, contrasting that with the Fed and Treasury’s frantic machinations. Yes,... More »

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SEC • Christopher Cox • regulation • bank regulation • financial crisis • Bernard Madoff

opinion

 Whom to Thank for This Mess 

Bad decisions starting in the '80s triggered the credit crisis

Dec 9, 08 2:59 PM CST
(Newser) - This financial crisis brewed over decades of bad decisions, and, in Vanity Fair, economist Joseph Stiglitz makes sure credit is given where due:
  • In 1987 President Reagan appointed anti-regulation Alan Greenspan to a regulatory post.
  • Greenspan offered the markets a "flood of liquidity" that boosted inflation
... More »

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Alan Greenspan • tax cuts • Reaganomics • Joseph Stiglitz • bank regulation • deregulation • financial crisis • Wall Street bailout

OPINION

Spitzer on
Wall Street:
I Told You So

Disgraced ex-gov explains how to rework regulatory system

Nov 15, 08 11:01 AM CST
(Newser) - These days, Eliot Spitzer may be famous for his horizontal escapades, but once he was a pro-regulation crusader trying to reign in Wall Street’s excesses. Spitzer tried to raise the alarm about market transparency, AIG, and subprime lending, but he and those like him were always “scoffed at... More »

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Eliot Spitzer • regulation • bank regulation • financial crisis

 Poll: Americans Want 
 More Regulation 

70% say lack of oversight caused economic woes

Oct 15, 08 11:19 AM CDT
(Newser) - What caused the financial and housing crises? Three-quarters of Americans think a lack of federal regulation played at least some role in current economic woes, and 90% characterize the economy as doing badly, according to a Los Angeles Times/Bloomberg poll. When asked about the most crucial financial focus for the... More »

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bailout • economy • bank regulation • deregulation • opinion polls • financial crisis

Europe Agrees to Take It One Financial Crisis at a Time

Sarkozy's hopes dashed amid other leaders' opposition

Oct 5, 08 10:53 AM CDT
(Newser) - Leaders of Europe’s four biggest economies did not settle on a unified plan for tackling the financial crisis, the Washington Post reports. Instead, each country will deal with banking problems as they crop up. While France’s Nicolas Sarkozy hoped for a Europe-wide plan, British and German leaders were... More »

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Germany • European Union • Europe • Nicolas Sarkozy • France • Italy • Britain • bank regulation • financial crisis

Fed Loosens Reins on Private Funds Buying Into Banks

But some worry risky loans will result

Sep 23, 08 5:51 AM CDT
(Newser) - The Fed has loosened the rules that curtailed private investments in banks, the Wall Street Journal reports. The move may inject more cash into the financial system—if private equity chooses to invest—but will raise fears of profit-hungry investors snapping up stakes in banks to make quick cash with... More »

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investing • private equity • Federal Reserve • bank • buyout firms • bank regulation • banking industry

ANALYSIS

SEC Chair Cox Fiddled as US Markets Burned

'Exceedingly cautious' approach had Paulson looking to kill agency

Sep 22, 08 3:22 PM CDT
(Newser) - With US markets in upheaval, the head of the watchdog Securities and Exchange Commission was preoccupied with a new technology for corporate filing, Bloomberg reports. Christopher Cox’s inaction has provoked bipartisan criticism: McCain adviser Carly Fiorina said he has been “asleep at the switch,” while Democratic Sen.... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • Henry Paulson • SEC • Christopher Cox • regulation • SEC commissioners • bank regulation

McCain Team on Defense Over Health Care Comment

Dem said McCain backs banking deregulation

Sep 21, 08 2:56 PM CDT
(Newser) - John McCain was back on the defensive over the economy yesterday, after Barack Obama accused him of touting banking deregulation in a magazine article even as Washington is scrambling to re-regulate the industry to stave off a Wall Street meltodown, the Washington Post reports. In this month's Contingencies magazine, McCain... More »

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health care • Barack Obama • John McCain • Social Security • economy • bank regulation • deregulation

Greenspan: Housing Will Hit Bottom in 2009

Skilled immigrants would help end
slump, he says

Aug 14, 08 11:19 AM CDT
(Newser) - Alan Greenspan said housing prices could continue to edge lower through 2009, but should “stabilize or touch bottom” in the first six months of the year, reports the Wall Street Journal. And, the former Fed chief says, while a government bailout of Freddie Mac and Fannie May was the... More »

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Bush administration • Federal Reserve • economics • Alan Greenspan • capitalism • Freddie Mac • Fannie Mae • credit crisis • housing crisis • subprime crisis • bank regulation • financial crisis

OPINION

Greenspan to Government: Hands Off

Market capitalism can ride out the crisis, writes former Fed boss

Aug 5, 08 1:15 PM CDT
(Newser) - The credit crisis is far from over, and more banks and financial institutions might require government bailouts along the way, Alan Greenspan acknowledges. The crunch will relax only when home prices, "the ultimate collateral support for much of the financial world’s mortgage-backed securities," begin to stabilize, the... More »

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Federal Reserve • economics • Alan Greenspan • capitalism • credit crisis • regulation • mortgage backed securities • bank regulation • financial crisis

ANALYSIS

 US Smacked by
 the Invisible Hand 

Americans are moving away from faith in free market

Jul 16, 08 2:12 PM CDT
(Newser) - Are we losing confidence in market mechanisms? Years of unfettered free markets contributed to the current gloomy economic situation, and even the market-championing White House has lurched into government regulation of the financial world, the Los Angeles Times reports. With housing prices falling and oil prices rising, “the message... More »

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housing market • regulation • oil price • free markets • economy • bank regulation • speculators • oil prices

 Feds Seize Failed
 IndyMac Bank 

Senator's comments led to takeover, regulator says

Jul 11, 08 7:03 PM CDT
(Newser) - As mortgage lenders Freddie Mac and Fannie Mae crowded the headlines today, Washington snatched up IndyMac Bank in the second-largest US bank failure in history, the Wall Street Journal reports. The Pasadena, Calif. savings and loan, which owns about $32 billion in assets, saw stocks fall from $45 last year... More »

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takeover • IndyMac • FDIC • lending practices • subprime crisis • bank regulation • financial crisis

 Banks Play
 Hide-and-Seek
 With Bum Loans 

Changing definition, moving mortgages to subsidiaries among tactics

Jun 19, 08 10:19 AM CDT
(Newser) - Banks are increasingly finding creative ways to lessen the impact of shaky loans on their bottom lines, shifting them to subsidiaries or changing their definition of non-performing, the Wall Street Journal reports—a legal, if not exactly confidence-inducing, strategy. "Spending all the time gaming the system rather than addressing... More »

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credit crisis • real estate values • home equity loans • mortgage defaults • bank regulation

ANALYSIS

Asia Financiers Looking Askance at Western Banks

Credit crunch has investors, regulators questioning the model

May 16, 08 4:30 PM CDT
(Newser) - Bankers and regulators across Asia have grown wary of the big US banks they once invited to underwrite major moves, the Economist reports. One Chinese regulator described the West’s big banks to the magazine as “shit,” among signs the East no longer trusts the West’s wisdom,... More »

MORE ABOUT:
China • HSBC • Chinese banks • bank regulation

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