The Committee to Save the Banks – Part IV: Defending the Indefensible
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/The Committee to Save the Banks put on a clinic in their ongoing effort to defend their choice to save the banks... Read More
Was it a Mistake to Save the Banks?
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Since the acute phase of the financial crisis began and the decision was made to “save” the banks, the question has been... Read More
Credit Suisse’s Thiam Pushes Transparent Lending Covenant
Even the banking industry realizes there is no reason not to disclose a loan once it has been made. The latest example... Read More
Those Who Helped Break the Economy Cannot Fix It
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Over a decade after the beginning of the Great Financial Crisis, the global economy has still not found its footing and moved... Read More
Bank Regulatory Pendulum Swings Back To Light Touch
Barely a decade after the Great Financial Crisis began and already the argument is being made the post-crisis regulatory response went too... Read More
Bank Leverage: The Great Divide
Since the Great Financial Crisis began on August 9, 2007, I have said the focus on bank capital in the absence of... Read More
Gaming the Rules
Danièle Nouy, Chair of the Supervisory Board of the ECB, gave a speech in which she laid out why bank regulators and... Read More
Are banks still an accident waiting to happen?
The results of the bank stress tests are in and once again virtually every single bank passed. Central bank regulators are running... Read More
Yellen confirms Too Big to Fail alive and well
In her 2017 Jackson Hole speech, Fed Chair Janet Yellen confirmed Too Big to Fail is alive and well. She observed: Finally,... Read More
Who is worse for the economy: Bankers or Economists?
As we near the tenth anniversary of the start of the Great Financial Crisis, it is worth taking a brief moment to... Read More
Gambling on bank regulators
Since banks everywhere are opaque, there is no way for investors to independently assess the risk of their unsecured debt and equity... Read More
Stock exchange officials confirm transparency ends proprietary gambling
While it wasn’t their intent, stock exchange officials confirmed why transparency enforces the the Volcker Rule and its prohibition on banks making... Read More
Bank capital: great for everything; does nothing
Since the financial crisis intensified in 2008, the fans of bank book capital have made numerous positive claims about its magical capabilities.... Read More
Policymakers’ addiction to bailing out banks
Why do politicians and bank regulators have such a hard time giving up bailing out banks? Fear. Fear of contagion. Fear that allowing... Read More
Banker misbehavior becomes cost of doing business
According to the Boston Consulting Group, since 2008, fines for banker misbehavior have cost bank shareholders $312 billion. As a result, As... Read More