Tag: Banking Industry
Wall Street ‘No Snitchin’ Culture
That is the topic of a new piece by Ted Kaufman today. According to Kaufman, the common wisdom among bankers is that the biggest six of the Too Big To Fail banks ought to be broken up or at least subject to greater regulatory requirements. And why don’t you hear more about this? Apparently the No Snitchin’ culture is big among the Joseph A. Banks-suited set too.
Biden Joins NY Investigation into Validity of Mortgage Paperwork
Attorney General Beau Biden is joining the investigation started by NY AG Eric Schneiderman in looking at mortgage Trustee Banks Bank of New York Mellon and Deutsche Bank.
Elizabeth Warren on Consumer Protection
This is from a conference held a few weeks back in NY with the theme of “Make Markets Be Markets”. Elizabeth Warren is always awesome, and this is one good argument for the entire Consumer Protection agency that banks are currently working overtime to eliminate. This is around 10 minutes long and worth every minute. […]
Obstacles to Reform in the Banking Industry
On Bill Moyers Journal, he recently talked about the state of the playing field for getting real regulatory reform done for financial institutions with David Corn and Kevin Drum. This was a great discussion and one that every one of us who cares about getting this done should carefully watch. Because what they are laying out here is how regulatory reform for banks is being gutted before our eyes.
The Blame Obama Brigade
This weekend seemed to be filled with lots of discussion all over the internet re: Matt Taibbi’s piece giving President Obama’s economic team a not undeserved beat down. I like Taibbi’s writing a lot and the fact that he doesn’t do conventional “objective” reporting doesn’t bother me (but the repetition of bad data does bother me, like the so-called “cost” of all of the bailouts being 23.7 trillion), but I still find it hugely remarkable that there are plenty of people on the left who are very comfortable blaming Obama for not being liberal or progressive enough – as if that is all it would take to get major legislation through Congress.
Comment Rescue: Delaware Banking Secrecy
Allan Loudell, on yesterday’s report about Delaware’s ranking as the most secretive banking system in the world: Comment by Allan Loudell on 2 November 2009 at 9:25 am: I forward John Manifold’s comments to John Christensen, director of the Tax Justice Network in London, and one of the authors of these rankings. I was curious […]
Delaware: International Tax Haven
Delaware has been named the most secretive financial jurisdiction, even more secretive than Switzerland. I guess some day we’ll be talking about Delaware bank accounts: The United States, led by the eastern seaboard state, took in $2.6 trillion in deposits from non-resident corporations and individuals in 2007, according to a survey of financial jurisdictions analyzed […]
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