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The dog that didn't bark
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Beatrice Weder di Mauro of the German Council of Economic Experts points to the needs for beeter incentives for regulators to ensure their is no local regulatory capture and to ensure that regulators are doing their job well. One is to increase the pay of central bankers and bank supervisors and to make the job nearly as attractive as working in the private sector. The other is to give more authority to supranational institutions to regulate. She points out that competition has been kept in the Eu's domain and this has helped ensure consistency in the way bank bail outs are being handled in the European countries. The same needs to happen in Europe for banking reguolation and oversight. She points out the flaw in the argument for national regulators on the basis that the money to bailouts comes locally. a substantial part of the bailouts come in the form of regulatory forbearance, enabling banks to make higher profits because of reduced competition, and implicit support from central banks. And she adds that the temptation to solve the future crises by these "off balance sheet methods" is greater now because no one wants to go to parliament or congress to get bail out money for banking instituitons.
2008 global financial crisis and the incomprehensible- Are the old faces that put the whole financial system at risk, now the new faces trying to fix it?
01/15/2009
Sir James Crosby is the old face of HBOS bank which needed $17 billion of British government money, he has also been Deputy Chairman of the Financial Services Authorty since 2006. Has part of the problem been that regulatory agencies have been run by the very people they were supposed to regulate. In the process has the regulatory mindset which is supposed to have conservative instincts and to be skeptical of newly contrived schemes and ever vigilant, been destroyed or replaced with something foreign to the task of regulation.
Grouped Articles
Obama's Pick to Head SEC Has Record Of Being a Regulator With a Light Touch
Wall Street Journal 01/15/2009
Schapiro Pledges Vigilance as SEC Chief
Wall Street Journal 01/16/2009
SEC Chief Pledges Effort To Bolster Enforcement
Wall Street Journal 02/07/2009
SEC Expected to Name Khuzami Enforcement Director
Wall Street Journal 02/09/2009
Top Enforcer at the S.E.C. Steps Down
New York Times 02/10/2009
British Regulator Quits as Accusations Mount in Banking Crisis
New York Times 02/12/2009
E.U. Financial Regulation
08/17/2007
The regulatory reform of the financial system for the European Union countries.
Grouped Articles
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Europeans Plan to Investigate Ratings Agencies and Their Warnings
New York Times 08/17/2007
Agency’s ’04 Rule Let Banks Pile Up New Debt
New York Times 10/03/2008
EU Fights Irrelevance in Crunch
Wall Street Journal 10/07/2008
Britain Takes a Different Route to Rescue Its Banks
New York Times 10/09/2008
EU to Push Global Oversight of Top Financial Firms
Wall Street Journal 10/16/2008
Danel Tarullo's lone effort at the Federal Reserve- 2009-2010
10/01/2009
Daniel Tarullo steps in around September 2009, when Congress and the administration have already buckled under pressure from the lobbying by the banking industry to weaken essential regulatory reform in derivatives trading, and in other reforms. Volcker is 82, and rarely uses his Washington office (ignored?), Tarullo is looked at by staff at the Fed from the previous lax regime of regulation with skepticism. Mervyn King at the Bank of England is alone in calling for the breakup of big banks into smaller banks, and separating utility and investment banking, which Volcker supports. As it stands now bank regulation falls under the FSA in England, with the Conservatives under Osborne looking to give the Bank of England this authority. And all the time banking behaviours at investment banks and trading desks continue in a business as usual manner.
Grouped Articles
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Banks Ordered to Add Capital to Limit Risks
New York Times 04/08/2014
Fed’s New Bank-Regulation Tune Should Be One Direction
Wall Street Journal 12/02/2014
Washington Strips New York Fed’s Power
Wall Street Journal 03/05/2015
U.K. Banks Face Political Upheaval
Wall Street Journal 10/27/2009
Discussions for a new regulatory framework with single regulator for banks
05/28/2009
Discussions at the White House for a new financial regulatory framework.
Grouped Articles
Single-Regulator Plan for Banks Now Close
Wall Street Journal 05/28/2009
Financial Overhaul Raises Questions
Wall Street Journal 05/29/2009
Small Banks Hold Key to Central Piece of Regulatory Revamp
Wall Street Journal 07/31/2009
A Year After a Cataclysm, Little Change on Wall St.
New York Times 09/12/2009
Summers Says More Regulators Could Join Fed to Police Risk
Wall Street Journal 09/12/2009
Britain’s Top Financial Regulator Takes On Banks
New York Times 09/24/2009
The lack of action in the "too big to fail" and systemically important financial institutions area one year into the Obama administration.
04/21/2009
Regulatory reform proposals and other actions taken in the first 6 months still leave many banking and financial nstitutions that are too big to fail. Consolidations of banks have actually increasd their size. The dangers in additional bailout assistance if banks suffer huge losses.
Grouped Articles
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Wall Street Journal 05/01/2013
Economists Seek Breakup of Big Banks
Wall Street Journal 04/21/2009
Banks Need Fewer Carrots and More Sticks
Wall Street Journal 05/07/2009
What Does the Market Focus on After the Stress Tests?
Wall Street Journal 05/07/2009
The right incentives for banking regulators to prevent local regulatory capture.
10/01/2009
The need for financial incentives ad better pay. And the importance of letting supranational institutions handle banking oversight.
Grouped Articles
Economist 10/01/2009
The Other Plot to Wreck America
New York Times 01/10/2010
India and America, Two Peas in a Pod
New York Times 11/08/2011
In Hunt for Securities Fraud a Timid S.E.C. Misses the Big Game
New York Times 12/15/2011
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
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