Banks that only do the minimum to address the public's grievances may as well just put a target on their backs for regulators - as well as for competitors.
Investors in mortgage securities are generally "hurt" by refinancings. That doesn't mean holders of a mortgage security are "betting against struggling homeowners."
Allowing credit unions to bring in investor capital will, in effect, make them identical to any other for-profit corporation that issues debt and stock - except that they will keep their tax-free status.
Rather than try to make money market funds safer, David Merkel essentially wants everyone to recognize and admit and deal with the reality that they aren't safe.
In an improving economy, many of the policies and procedures that were imposed on banks in 2008 have become counterproductive, and are hurting rather than helping the industry.
A considerable amount of energy has been spent linking Freddie Mac's use of an arcane set of derivatives to some sinister plot. The facts of the situation appear to have been blown well out of proportion.
Michael Stockman and Michael Roseman may have had the same title at MF Global, but their testimony highlighted distinct differences in actual roles, responsibilities and perspectives. And salary.
