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Obama Presses Regulators to Finish Financial Rules
Keywords:
By July 2013 only about 40% of the Dodd-Frank financial reform legislation rules were completed, 60% of deadlines were missed, according to law firm Davis Polk & Wardwell LLP. A singular aspect of the Dodd-Frank legislation was that rule making was left to regulators in different agencies and open to lobbying by the financial industry. This has the effect of delaying the rule making until a consensus is reached, diluting some of the original intent as financial firms jockey for advantage, and making it voluminous in many cases because of the wording designed to achieve consensus and account for objections by various interests. Reform legislators such as Barney Frank openly said they had no interest in learning enough about the financial industry to do the rule making, and may have left an excessive amount of the rule making to regulators in the future. A consumer protection agency was established under the new law and derivatives are required to be traded on exchanges. The Volcker Rule to separate investment banking from deposit taking and a requirement that banks hold onto a portion of mortgage securities marketed are not completed. The S.E.C. has to write the rule on how much money brokerages must set aside for losses on swap trades. Another bubble in financial markets would leave the U.S. and European economies vulnerable to problems similiar to the global financial crisis of 2008, which is why the U.S. Federal Reserve, the Bank of England and the European regulatory authorites are requiring large banks to set aside more capital reserves. The S.E.C. under its new chief is also taking a more active role in overseeing the banks for violations of securities laws, including a series of actions taken against JP Morgan Chase bank in 2013. This has a deterrent effect as the huge monetary easing by the U.S. Federal Reserve to reduce unemployment also creates bubble conditions in financial markets, according to Fed governor, Jeremy Stein. Former FDIC chief, Sheila Bair, says the lack of leadership in this area is simply astonishing.
Barney Frank on the Dodd-Frank financial reform law, one year later in 2011
04/16/2010
Frank gives the CFTC, and S.E.C. good grades for working in difficult conditions to write the rules. He gives the Comptroller of the Currency a D grade His main fear is the Republicans in Congress stalling and crimping the resources and functioning of the regulatory agences. He fears that Republican politicians with financial backing from the banking industry are looking at 2012 elections as an opportunity to reverse the changes. Chris Dodd is now a lobbyist for the Motion Picture Industry.
Grouped Articles
Banks Criticize Strict Controls for Foreign Bets
New York Times 04/30/2013
New York Times 12/27/2011
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Democratic vice presidential candidate Joe Biden in the 2012 U.S. presidential campaign
08/15/2012
Biden described the Romney plan to repeal the Dodd-Frank financial regulations as efforts to put "y-all back in chains," as both sides levelled increasingly strident accusations.
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Wall Street Journal 08/05/2015
Family issues weigh heaviest on Biden as he considers a 2016 campaign - The Washington Post
Washington Post 08/25/2015
Biden’s decision boosts Clinton and sets up a two-way race with Sanders - The Washington Post
Washington Post 10/21/2015
Joe Biden Decides Not to Enter Presidential Race
Wall Street Journal 10/22/2015
Washington Post 08/15/2012
Failure to implement the Dodd-Frank provision that removes a government requirement of credit ratings on securities
01/02/2009
The foot dragging that has held up this change comes from the Treasury's Office of the Comptroller of the Currency. Treasury Secretary Geithner said in a recent op-ed piece in the Wall Street Journal that he would ask the President to veto any changes to the Dood-Frank legislation. The S.E.C. and other regulators have not made the changes as required by the reform law. A Wall Street Journal editorial on July 23, 2011, points to the failure to make this change by regulatory agencies.
Grouped Articles
Rating Firms Steer Clear of an Overhaul
Wall Street Journal 05/12/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Five Years On, Confidence Still Lacking in Conflicted Ratings System
Wall Street Journal 09/11/2013
The Stone Unturned: Credit Ratings
New York Times 03/22/2014
Regulators Struggle With Conflicts in Credit Ratings and Audits
New York Times 08/21/2014
S.&P. Settlement Leaves Future Unclear for Ratings
New York Times 02/03/2015
Foreign banks and the U.S. Dodd-Frank financial reform law
02/17/2011
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
U.S. Regulators Fault 3 Foreign Banks Over ‘Living Wills’
Wall Street Journal 03/25/2015
Banks Find Loophole on Capital Rule
Wall Street Journal 02/17/2011
Wall Street Journal 09/14/2011
To Envision Dodd-Frank's Future, Look to its Predecessor
New York Times 02/09/2012
Fisher and Rosenblum: How to Shrink the 'Too-Big-to-Fail' Banks
Wall Street Journal 03/10/2013
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.
Grouped Articles
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
Living wills of major banks in the U.S. submitted to the U.S. Federal Reserve and the FDIC under Dodd-Frank legislation
06/09/2010
Grouped Articles
Banks Are Pressed to Expand 'Living Wills'
Wall Street Journal 04/15/2013
Debating Dodd-Frank: Is 'Too Big to Fail' Gone?
Wall Street Journal 07/21/2011
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Financial Bill Would Create World Model, Volcker Says
New York Times 06/09/2010
Experts Grade the Financial Legislation
Wall Street Journal 07/16/2010
Wall Street Adapts to New Regulatory Regime
Wall Street Journal 07/22/2014
Paul Volcker talks to Charlie Rose in November 2011
07/09/2010
In this interview Volcker addresses questions about the origins of the financial crisis, the role played by the Federal Reserve, the Volcker Rule and the Dodd-Frank financial reforms, the Republican position of no taxes, the Occupy movement, and the alarming disparity in income growth between the top end and low end of incomes. Volcker says he knows of no years when there was such wide disparities between the enormous income growth at the high end and the lack of growth at the low end- except 1928, and 1929.
Grouped Articles
Volcker Rule Might Just Be Kabuki Theater
Wall Street Journal 10/12/2011
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
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
Wall Street Journal 12/04/2013
Problems with the Dodd-Frank U.S. financial reforms legislation
07/16/2010
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Experts Grade the Financial Legislation
Wall Street Journal 07/16/2010
How Regulators Mess With Bankers’ Minds, and Why That’s Good
New York Times 04/14/2016
Wall Street Journal 02/16/2011
Banks Find Loophole on Capital Rule
Wall Street Journal 02/17/2011
Richard Fisher, president of the Federal Reserve Bank of Dallas, on the dangers of "too-big-to-fail" and systemically important financial institutions in 2012-2014
10/14/2012
Fisher says the situation has not changed from what it was in 2008, and Dodd-Frank legislation has left the situation entrenched with 5 banks controlling 61% of the country's financial assets.
Grouped Articles
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
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
Fed’s Tarullo Reiterates Support for Raising “Systemically Important” Threshold
Wall Street Journal 03/20/2015
Wall Street Journal 04/13/2015
U.S. Treasury Secretary Geithner on the state of financial regulatory reform in mid- 2011
01/02/2009
Geithner says efforts in Congress to slow the implementation of the Dodd-Frank legislation hurts efforts to put in place necessary protections for the financial system after the crisis of 2008.
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
A Dodd-Frank Retreat Deserves a Veto
Wall Street Journal 07/20/2011
Barney Frank, Financial Overhaul Defendor in Chief
New York Times 07/21/2011
Debating Dodd-Frank: Is 'Too Big to Fail' Gone?
Wall Street Journal 07/21/2011
Steve Bartlett of the U.S. Financial Services Roundtable
07/15/2011
Bartlett heads the lobbying efforts to make changes to the Dodd-Frank financial reform legislation.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
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
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Wall Street Lobbyist Aims to 'Reform the Reform'
New York Times 07/15/2011
A Dodd-Frank Retreat Deserves a Veto
Wall Street Journal 07/20/2011
Dodd-Frank financial reform legislation, three years later in 2013
07/16/2010
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Experts Grade the Financial Legislation
Wall Street Journal 07/16/2010
Wall Street Adapts to New Regulatory Regime
Wall Street Journal 07/22/2014
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
The Federal Reserve's new role under Bernanke and the Obama financial regulatory reforms.
06/24/2009
Bernanke Fed's new role after extraordinary work in extraordinary circumstances during the financial crisis of late 2008 and early 2009.
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
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
Behind the Scenes, Fed Chief Advocates Bigger Role
New York Times 06/24/2009
Two Authorities on Fed Advise Congress Against Expanding Its Power
New York Times 07/10/2009
Bernanke Heads to Congress Battling Calls to Tame the Fed
Wall Street Journal 07/21/2009
Credit rating agencies and the Dodd-Frank financial overhaul law
11/16/2010
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
The Stone Unturned: Credit Ratings
New York Times 03/22/2014
S. & P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
New York Times 02/05/2013
How the Next Financial Crisis Will Happen
Wall Street Journal 06/10/2015
How Regulators Mess With Bankers’ Minds, and Why That’s Good
New York Times 04/14/2016
Why Credit Raters Keep Their Power
Wall Street Journal 11/16/2010
Derivatives and the Dodd-Frank financial reform law
04/18/2010
Grouped Articles
Big Banks Get Break in Rules To Limit Risks
New York Times 05/15/2013
Derivatives Reform on the Ropes
New York Times 05/19/2013
New York Times 04/18/2010
Economist 04/29/2010
How Wall Street Gamed Derivatives Reform
BusinessWeek 05/27/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Fomer Fed chairman Volcker's comment letter responds to criticsm of the Volcker Rule in Feb. 2012
07/09/2010
Mr. Volcker says the Volcker rule restricting proprietary trading will make the U.S. financial system safer and healthier. He responds to the objection that it will reduce liquidity and increase borrowing rates by saying that too much liquidity is the problem because financial firms tend to bid up asset prices thinking they can always find a buyer. Some of the complexity in the rule Volcker says, stems from the request from financial firms to define what is and is not proprietary trading. The rle goes into effect in July 2012 under the Dodd-Frank legislation.
Grouped Articles
Barney Frank, Financial Overhaul Defendor in Chief
New York Times 07/21/2011
Volcker Rule Might Just Be Kabuki Theater
Wall Street Journal 10/12/2011
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
Gary Gensler, chairman of the Commodities Futures Trading Commission
04/18/2010
The difficulties in CFTC's first year under Gensler to write the rules for derivatives required by the Dodd-Frank reform legislation.
Grouped Articles
Banks Criticize Strict Controls for Foreign Bets
New York Times 04/30/2013
Big Banks Get Break in Rules To Limit Risks
New York Times 05/15/2013
Derivatives Reform on the Ropes
New York Times 05/19/2013
New York Times 04/18/2010
How Wall Street Gamed Derivatives Reform
BusinessWeek 05/27/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
J.P. Morgan Chase $2 billion trading losses in May 2012, the Volcker Rule and Dodd-Frank legislation
04/10/2012
Grouped Articles
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
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
The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
Wall Street Journal 12/04/2013
A Hedge or a Bet? Trade Highlights Ambiguity in Volcker Rule
Wall Street Journal 05/12/2012
Michael Gibson, new chief of the U.S. Federal Reserve's regulatory division
01/21/2010
Under Dodd-Frank legislation the Fed was given the additional task of oversight of U.S. financial institutions. Gibson would play an important role in setting up stress tests for U.S. banks, regulatory supervision of banks, and representing th U.S. on the Basel committee.
Grouped Articles
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
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Fed Publishes 'Stress Test' Procedures
Wall Street Journal 11/10/2013
Wall Street Adapts to New Regulatory Regime
Wall Street Journal 07/22/2014
Post crisis Derivatives Trading Reforms 2009-2013
12/17/2009
The failure in derivatives regulation. New derivatives rules under the Dodd-Frank legislation.
Grouped Articles
Big Banks Get Break in Rules To Limit Risks
New York Times 05/15/2013
Derivatives Reform on the Ropes
New York Times 05/19/2013
New York Times 04/18/2010
Economist 04/29/2010
How Wall Street Gamed Derivatives Reform
BusinessWeek 05/27/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Republican positions in 2011-2012 on financial reform and the Dodd-Frank bill
04/18/2010
Grouped Articles
New York Times 04/18/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
How to Derail Financial Reform
New York Times 12/26/2010
More Bank Reforms Needed, Economists Say
Wall Street Journal 01/09/2011
Gensler's Struggles Mark Regulatory Challenges
Wall Street Journal 07/19/2011
A Dodd-Frank Retreat Deserves a Veto
Wall Street Journal 07/20/2011
S.E.C. Funding in 2010-2012
12/21/2010
Funding of the Securities and Exchange Commission. Under the Dodd-Frank legislation for financial reform the funding for the S.E.C. was doubled so that it could fully take up a whole range of regulatory tasks. President Obama's freeze on federal agency spending could deprive the agency of its annual increase in funding of $160 million in 2011, with the budget flat at $1.1 billion.
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Wall Street Journal 12/21/2010
Wall Street Joins SEC in Plea for Bigger Budget
New York Times 02/08/2011
Budget Cuts to S.E.C. Reduce Its Effectiveness
New York Times 07/15/2011
A Dodd-Frank Retreat Deserves a Veto
Wall Street Journal 07/20/2011
Atlas Shrugged. Will Regulators?
Wall Street Journal 07/20/2011
Views on U.S. financial reform at conferences
04/16/2010
Views expressed at the American Economic Association 2011 meeting that Dodd-Frank reforms have not made the changes needed.
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Experts Grade the Financial Legislation
Wall Street Journal 07/16/2010
How Regulators Mess With Bankers’ Minds, and Why That’s Good
New York Times 04/14/2016
The S.E.C. and the Credit Ratings Agencies in the U.S. - 2010-2014
12/08/2009
The failure of the Securities and Exchange Commission to keep the intent of the Dodd-Frank law, and hold credit ratings agencies accountable for ratings they issue. This opens the door to the kinds of problems that caused the financial crisis of 2008.
Grouped Articles
Rating Firms Steer Clear of an Overhaul
Wall Street Journal 05/12/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
S&P's Account of An Irate Treasury Secretary
New York Times 01/21/2014
The Stone Unturned: Credit Ratings
New York Times 03/22/2014
S. & P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
New York Times 02/05/2013
Regulators Struggle With Conflicts in Credit Ratings and Audits
New York Times 08/21/2014
Eisinger on Scott Alvarez, General Counsel of the U.S. Federal Reserve, and U.S. financial regulatory reform
07/31/2013
Grouped Articles
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
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
The inadeqacy and shortcomings of the House Financial Reform package of December 2009.
12/16/2009
For one thing the fund of money to be set aside for closing a bank is $150 billion which is only 20% of Bank of America's assets.
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Finance Fixers Still Living in Denial
Wall Street Journal 12/16/2009
A Crisis Is a Terrible Thing to Waste
BusinessWeek 12/17/2009
The Other Plot to Wreck America
New York Times 01/10/2010
A Dubious Way to Prevent Fiscal Crisis
New York Times 06/04/2010
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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