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The Republic Reports says: Luckily for [JPMorgan CEO Jamie] Dimon, the professional staff in charge of managing the [Senate]banking committee [hearings] will be quite familiar to him and his team of lobbyists. That’s because the staff director for the Senate Banking Committee is none other than a former J.P. Morgan lobbyist, Dwight Fettig. In 2009, Fettig was a registered lobbyist for J.P. Morgan. His disclosures show that he was hired to work on [...] 1. The promise that unemployment would be below 8 percent. 2. The promise that the help would come immediately. http://content.usatoday.com/communities/theoval/post/2011/06/obama-jokes-about-shovel-ready-projects/1 3. It was supposed to lift 2 million Americans from poverty…instead over 3 X that many more are now living there….plus child poverty has dramatically increased. 4. The green sector would create millions of jobs…well we all saw how that worked out. More like paid millions of dollars in paybacks. 5. One million electric cars [...] I realize it feels very much like the first one never ended (Great Recessions are like that folks). But Nouriel Roubini, my friend and former boss, has just issued the Roubini Global Economics 2012 Outlook, and it’s ugly. Roubini, along with his team of economists see the euro zone’s dysfunctions as putting the US in a 50 percent chance of a new downturn. This time, however, the “decoupling” that many in [...] Some thoughts by David Schawel at Economic Musings who follows up on our observations from a week earlier regarding the possibility for a major Treasury collateral scramble if and when Basel III is ever implemented, and the implications for US Treasury demand. Could Basel III Create A Floor For Sovereign Debt Prices? The evolution of regulatory reform in the banking industry has been well publicized since the onset [...] Full speech link: Regulatory Reform of the Global Financial System Remarks hosted by the Institute of Regulation & Risk North Asia, Tokyo, Japan I am pleased to be here today to speak about the issue of regulatory reform and the global financial system. But before I begin, I would like to express my deepest sympathies and those of my colleagues at the Federal Reserve to the people of Japan following the [...] Here is a quick note from BofA’s Brian Smedley explaining again how the Fed is now completely cornered (even more than before). Fed policy complicated by new FDIC regime One of the main problems highlighted by the FDIC policy change is the unintended consequence that regulatory reform has on monetary policy. The new FDIC assessment regime, while intended to better protect taxpayers from large bank failures in the [...] NEW YORK (AP) — Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme. “The whole new regulatory reform is a joke,” Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial [...] by ZH Stephen Roach, chairman of Morgan Stanley Asia, has penned one of the most unapologetic letters bashing the central banking climate we have ever read from an institutional insider (he is still technically part of MS). And Roach should know: From 1972 until 1979, Roach served on the research staff of the Federal Reserve Board in Washington, D.C., where he supervised the preparation of the [...] The market’s plunge today to new closing lows complicates the recovery picture for many market bulls, including people who believe the regulatory reforms underway will eventually cure whatever ails us. Recent market action – including the May 6 ‘Flash-Crash’ – should also be unsettling to individuals who think free market mechanisms are all we need. The market’s repeated lurches to the downside suggest a growing suspicion that neither free market [...] Look at the lousy help for the SBA, Home loan modification, and ZERO prosecutions of those repsonsible for the Great Recession. The question is without any regulatory reform (even a half hearted attempt with reenstatement of Glass Steagall) and trillions in new debt we simply pushed off financial armageddon. Below is more proof of government’s reward for Government’s role in this crisis…and it’s in mainstream media. This is also why people are [...] |
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