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After the reforms: Safer, but not yet safe enough
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In its May 2011 special report on international banking the Economist points out the need for banking regulators to take stronger action than they have so far. What it calls "pre-emptive insurance" it says is needed - stronger regulation, larger capital cushions, and some form of separation of different kinds of banking. Without this the dangers of excessive risk taking and banks that are "too big to fail" will continue to threaten the world's economy. Banks that are smaller and better capitalized says the Economist can fail more gracefully than the large mega banks that exist at this time. In fact the banks today in the U.S. are larger than at the time of the 2008 crisis. Other analysts also point to the lack of major changes in banking and financial structures today compared to the situation before the 2008 crisis, both in Europe and the U.S.
How the U.S. Federal Reserve and Treasury define "Systematically Important" or "Too Big to Fail"
02/09/2011
The Fed defines the term as required by the Dodd-Frank financial regulation law.
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GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Wall Street Journal 05/01/2013
Fed’s Tarullo Reiterates Support for Raising “Systemically Important” Threshold
Wall Street Journal 03/20/2015
Fed Moves to Label 'Systemically Important' Nonbank Firms
Wall Street Journal 02/09/2011
The Fed's A-Team Hunts for Signs of Risk
BusinessWeek 02/17/2011
Simon Johnson and other experts on the capital shortfall and banking crisis in the U.S.
04/15/2010
Johnson points to irreversible damage from the lack of aggressive action with the large banks from the Obama administration. Johnson pointed to the problems with too big to fail banks. now he and Peter Boone give a lucid explanation on the big picture facing America in relation to the task of aggressive action to resolve the banking problem.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/2010
New Life for 'the Volcker Rule'
Wall Street Journal 05/01/2010
BusinessWeek 04/15/2010
Jamie Dimon: Americaâs Least-Hated Banker
New York Times 12/01/2010
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
Evidence of "Too Big To Fail" in the US Federal Reserve's 2008 Bailout Files
01/20/2009
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 12/02/2010
Wall Street Journal 12/02/2010
Hedge Funds Tapped Rescue Program
Wall Street Journal 12/02/2010
Liquidity Facility Was Lifeline for Wall Street
Wall Street Journal 12/02/2010
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
A new U.S. regulatory framework is outlined in an 85 page white paper put out by the White House.
06/17/2009
THe Fed gets increased powers to oversee large financial firms. A new consumer agency to protect consumers of credit cards, mortgages and other products would be created with powers to stem abuses. And new rules and oversight over mortgage securites and derivatives trading.
Grouped Articles
Cordray Picked to Head Consumer Financial Protection Bureau
New York Times 07/17/2011
Bank Challenger Picked to Run Consumer Agency
Wall Street Journal 07/18/2011
Obama Blueprint Deepens Federal Role in Markets
Washington Post 06/17/2009
Obama Sought to Enlist a Wide Consensus on Finance Rules
New York Times 06/17/2009
Draft Details New Rules for Markets
Wall Street Journal 06/17/2009
Consumer Agency to Seek an Expansive Role
Wall Street Journal 06/17/2009
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
European financial regulation after 2010.
11/06/2010
Grouped Articles
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Europe's new regulators: Continental shift
Economist 11/06/2010
Europeans to Initiate New Stress Tests of Banks
New York Times 03/03/2011
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
Fixing international banking: Unfinished business
Economist 05/22/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Accountablility of Financial Regulators
08/24/2009
Prof Kane at Boston College and Judge Rakoff point to the lack of accountability of financial regulators.
Grouped Articles
Stern Words for Wall Streetâs Watchdogs, From a Judge
New York Times 12/16/2013
Economist 06/13/2015
Facts and the Financial Crisis
New York Times 09/20/2009
BofA Ruling Questions an SEC Weapon
Wall Street Journal 09/16/2009
At Long Last, BofA Shareholders Find a Friend
Wall Street Journal 09/14/2009
Wall Street Journal 09/15/2009
Financial regulatory reform and lobbying by the U.S. financial industry.
01/02/2009
The extensive influence of lobbyists for the banking industry in the Obama administration The cozy relationship of bankers at Chase and Goldman with Rahm Emmanuel, White House chief of staff, and Geithner, the Treasury Secretary.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
New York Times 12/27/2011
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
New York Times 04/18/2010
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
The watering down of banking reforms in Congress.
10/15/2009
Not allowing states to regulate banks risks repeating some of the mistakes made in the events leading to the mortgage related global financial crisis,
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
New York Times 04/18/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Compromise Bill Could Block States on Bank Rules
New York Times 10/22/2009
Obama Promises Butchers No New Financial Regulations
Unknown 10/25/2009
Larry Kotlikoff and other economists who support strong action to strip banks of risk-taking activities.
02/04/2010
Among those who support such moves are Simon Johnson at MIT, Robert Lucas at the University of Chicago, Jeffrey Sachs at Columbia. Most recently Mervyn King, governor of the Bank of England. Glenn Hubbard of Columbia and an advisor to President George W. Bush compares the action needed to breakup "too-big-to-fail" banks to the action taken by Theodore Roosevelt, see the link to Hubbard.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
How Larry Kotlikoff Would Fix the Financial System
BusinessWeek 02/04/2010
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/2010
New Life for 'the Volcker Rule'
Wall Street Journal 05/01/2010
BusinessWeek 04/15/2010
Ireland Crisis Might Give China Break It Seeks
Unknown 11/19/2010
Bank of England governor Mervyn King sees the need to breakup the biggest banks.
01/28/2008
Volcker in the USA and Mervyn King in England both agree that speculative and utility banking should be separated, and too big to fail banks broken up. Regulation to prevent a future banking crisis they agree is something of an illusion.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
BOE's King: Big Banks Should Get Broken Up
Wall Street Journal 10/21/2009
Britain and Its Central Bank Disagree on Banking Laws
New York Times 10/22/2009
Less Talk, More Action Needed by Fed
Wall Street Journal 10/24/2009
Fed's Tarullo Shakes Up Bank Rules
Wall Street Journal 10/26/2009
Economist 10/26/2009
Not just "too big to fail" but too big to run.
10/01/2009
Bank of America is 10 times the size of Exxon. It has $2.3 trillion in assets.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
Wall Street Journal 05/01/2013
Economist 10/08/2009
Economist 10/01/2009
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/2010
Thomas Hoenig and other experts on the "too big to fail" banking crisis that hovers over the U.S. economy
09/23/2010
Former Fed Governor of the Kansas City Federal Reserve Bank for 20 years, Thomas Hoenig, has followed Fed policy over a long period. He has maintained throughout that government backing takes away an essential element in the safe and conservative practices of financial institutions by encouraging the taking of excessive risks. The only way to ensure their safety is for creditors to know they bear serious risks and for the systemically important financial insitutions to know that not following safe financial practices can put these institutions and management out of business.
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
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
BusinessWeek 09/23/2010
Wall Street Journal 05/01/2013
Banks Ordered to Add Capital to Limit Risks
New York Times 04/08/2014
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
Dysregulation Nation
06/14/2010
Judith Warner's phrase and description for the cultural phenomena facing America in 2010 captures the nature of the problems needing attention.
Grouped Articles
New York Times 06/14/2010
Warner Music Nears a Sale to Access
New York Times 05/05/2011
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
Reregulation: A dangerous embrace
Economist 05/22/2011
Wall Street Journal 08/04/2011
Time Warner Reports Double-Digit Revenue Increase, Expects More
New York Times 08/03/2011
Challenging the embedded thinking on Wall Street and in the City of London.
09/24/2009
The unregulated functioning of free markets is a result of regulators and the banking community both believing that the uninhibited operation of free markets is the best way to generate economic growth. This makes it easy for regulators to be coopted and falling asleep on the job. Turner Adair of Britain's FSA, and other leaders, who are trying to bring fresh thinking to regulatory reforms.
Grouped Articles
On Wall St., A Culture of Greed Won't Let Go
New York Times 07/15/2013
New York Times 12/27/2011
Britain’s Top Financial Regulator Takes On Banks
New York Times 09/24/2009
British Banks Will Face Tougher Liquidity Rules
New York Times 10/06/2009
The U.K.'s Tough Line on Liquidity
Wall Street Journal 10/07/2009
A Lack of Fiscal Fitness Is Weighing on the Pound
Wall Street Journal 10/14/2009
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
Lighter banking regulation in the U.S. compared to the stricter regulation proposed in Britain- 2011-2012
04/07/2011
The structural separation of investment banking and trading activities of banks from deposit taking activity, that is proposed by the Independent Commission on Banking in Britain. This is different from the Volcker Rule in the U.S., which sets rules banks are required to follow to constrain risktaking activity by the trading arm of banks. In practice only a lighter form of the Volcker Rule has been adopted in the U.S., and the rules are not clearly defined. Ring fencing of risk taking activities at banks is an important part of British regulation, an approach also adopted by Germany.
Grouped Articles
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
British Bank Proposal Expected to Include Stiff Rules
New York Times 04/07/2011
British Bank Panel Suggests Changes to Limit Risk
New York Times 04/12/2011
Big Banks in U.K. Dodge Breakup
Wall Street Journal 04/12/2011
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
Soul searching about the lack of changes to make the financial system safer after the 2008 global financial crisis
01/15/2010
Soul searching at the IMF, Britain's Financial Services Authority and among experts about the lack of serious changes or reforms in the financial system after the global financial crisis of 2008. Bondholders did not take a haircut in Ireland, and large banks are still "too big to fail." A sense that this could happen again.
Grouped Articles
Wall Street's Giants Try 'Flow Monster' Formula
Wall Street Journal 05/20/2013
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
After a Financial Flood, Pipes Are Still Broken
New York Times 09/14/2013
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