Until a recent outcry, the Fed was going to give Capital One's acquisition of HSBC's credit card businesses and ING's deposits a pass without even holding pro forma hearings.
Twenty years ago I engineered the sale of Security Pacific Bank, at the time the nation's fifth largest bank, to Bank of America. What has gone wrong since then?
The proposed regulation could raise a very significant issue for the directors of a covered company who, consistent with their fiduciary duties, may not elevate U.S. financial stability over the interests of their shareholders and creditors.
Global custodians have spent decades using bundled fees to mask egregious conflicts of interest and overcharge pension funds, and by extension the taxpayers and public servants who underwrite them.
Andrew Kahr's "Systemic Risk Is About Assets, Not Size" rightly focuses on bubble-inflating movements in the aggregate balance sheet of the financial sector. We should expand on three of his points.
Negative interest rates is a call to arms. Japan hesitated and sank into the "lost decade." The solution is inescapable: American banks must start lending.
The downgrade was a judgment on the stewardship, and not on the capacity of our federal government. That does not mean, however, that the downgrade is without consequence.
As an independent licensed mortgage lender I developed a thick Rolodex of appraisers with expertise in specific communities over the past 14 years. It is now worthless.
Since U.S. legislators and regulators failed to learn how banks' shared delusions generate systemic risk, it's not surprising that European banking regulators also missed the point
