Brian Moynihan gives an interview on camera, on the spot. ABC dwells on the sidewalk chase. Will bankers who hide their checking fees get the same treatment?
One need only think back to the AIG experience to feel nervous about MetLife's intention to deregister as a bank holding company and join the ranks of the "shadow" financial sector.
The huge debt of Fannie Mae and Freddie Mac is not "considered officially to be part of the total debt of the federal government," the Federal Reserve coyly notes.
Bank executives, audit committees and shareholders are at risk of additional scrutiny and unwelcome publicity under the best-case scenario - and audit failures under the worst case - if their auditor wages a protracted fight with the PCAOB.
The most dramatic reforms proposed by the European Commission could require audit-only firms, auditor rotation every nine years, and dual audits, as well as enhanced auditor reporting to shareholders.
The U.S. has lost the regulatory high ground. The rest of the world is embracing Basel III. We can no longer afford to go it alone and assume the world will follow.
Three leading global financial organizations have sanctioned the concept of a "legal entity identifier," a standard code for every corporate and institutional market participant.
