Financial Institutions

The Promise and Limits of Postal Banking


It’s easy for Progressives to get excited about the idea of postal banking: a public option for banking! What’s not to love?


Glass-Steagal: It's the Politics, Stupid!


It was like eight nights of Chanukkah in one for me watching the Democratic debate last night. There was a Glass-Steagal lovefest going on. But here's the thing:  no one seems to get why Glass-Steagal was important or the connection between Glass-Steagal and the financial crisis.


Covenant Banking


A new book out by University of Minnesota Law Professors Claire Hill and Richard Painter proposes a really intriguing proposal for disciplining wayward financial services firms: "covenant banking." The problem, as Hill and Painter observe, is that when things go badly at a financial institution, the


Interchange Evidence?


Both sides in the interchange fee debate have pointed to a recent Richmond Fed study as evidence supporting their position (here and here).


Pie and Mash


Or a bit of this this and that.


Dodd-Frank's Constitutionality


I'm testifying tomorrow before Senate Judiciary Committee's Subcommittee on The Constitution (yes, that's the official capitalization), about the constitutionality of the Dodd-Frank Act.  

Short version: nothing to see here folks.

Slightly longer version: really nothing to see here.


More on AIG: Between Hysteria and Complacency


I agree with Adam about all that post-Starr hyperventilation. No, it does not mean that bailouts are over, that the Fed has been slapped down, or any of that lurid stuff.


Mixed Messages Regarding OLA


Over at Dealb%k I talk about the confusing state of affairs regarding Dodd-Frank Orderly Liquidation Authority and the FDIC's new "single point of entry" (SPOE) approach to OLA.


Lessons For Consumer Protection From The World Of Inclusive Capitalism


Lately I have been teaching courses with names such as "Global and Economic Justice" and "History, Impacts and Regulation of Consumer Credit" instead of "Bankruptcy," "Secured Transactions" and "Chapter 11 Reorganizations." So I have been reading different books and listening to different speakers.