paul.kedrosky.com - 9/29/2009
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Great quote in new Satyajit Das piece on the regulation of derivatives: The industry will argue for self-regulation, which bears the same relationship to regulation that self importance does to importance. Lots more here , all of which is punchy and worth reading.
richard-wilson.blogspot.com - 10/2/2009
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richard-wilson.blogspot.com —
Hedge Fund Regulation Bill Bill Proposed in House
that Would Regulate Hedge Funds A high-ranking Representative has...
proposed legislation that could have major consequences for the hedge fund industry. Representative Paul Kanjorski, who is the Democratic chairman of the House of ...
(more)
Hedge Fund Regulation Bill
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Tit for tat over derivatives dangers
FT Alphaville —
... wheeling out all of Fernando’s arguments in an attempt to reassure the public that there really wasn’t all that much risk here. And if those exposures were still only a trillion or two, I might not be all that worried either. But the likes of Fernando don’t seem to understand that when the notional exposure increases by more than two orders of magnitude, whole new systemic risks can come into play. Staying above the fray but clearly relishing the derivatives debate, Paul Kedrosky on InfectiousGreed highlights an ...
Have We Learned Anything?
EconomPic —
... banks' derivatives (equal to the netted current credit exposure and potential future exposure of those contracts) to the risk based capital of those banks (tier one plus tier two capital). After the financial system blew up the global economy, the key question is why isn't the use and concentration by these large banks being reduced (we know how well the banks' controls worked out last year)? I think this quote from Satyajit Das (hat tip Paul Kedrosky) sums it up nicely: Warren Buffet once described bankers in the ...
Related Content
Financial Regulation, the Pessimistic View
baselinescenario.com 9/21/2009 — Satyajit Das, who knows more about derivatives than I know about anything , has a guest post on naked capitalism about derivatives regulation. The quick summary? Don’t bet on it.
“‘Holy water’, ‘hosanna’s’ or other utterances (based on particular religious ...
My "non-testimony" on the regulation of swaps and derivatives
rick.bookstaber.com 12/1/2008 — I was recently asked to testify in a Senate hearing "to explore the role of financial derivatives in the current financial crisis, the current system for regulating them and recommendations for modifying the regulatory system". This hearing was by ...
Why We Need Derivatives Regulation
dealbook.blogs.nytimes.com 10/9/2009 — DealBook Dialogue: Lynn A. Stout, the Paul Hastings professor of corporate and securities law at the University of California, Los Angeles, Law School, looks at the problems with over-the-counter derivatives trading.
Fixing Derivatives Regulation
ritholtz.com 10/8/2009 — Any plan that seeks to reverse the unregulated wild west that derivatives have existed in since 2000 must have a simple beginning: Repeal the Commodity Futures Modernization Act.
This is the ruinous and corrupt legislation, pushed through by the ...
Self-Regulation Doesn't Work
economistsview.typepad.com 4/21/2009 — The last entry in the
Blog War over regulation of the financial sector:
Why Self-Regulation of the Financial System Won’t Work, by Mark Thoma : I
want to finish up by broadening the discussion beyond the regulation of hedge
funds to the ...
The Bizarre World of Regulation
econlog.econlib.org 6/4/2009 — (June 2, 2009 09:39 PM, by David Henderson) Today's Wall Street Journal carries an article that highlights how strange regulation can be. Before reading, recall that one of the major alleged goals of regulation of cigarettes was to handle the problem ...
What Is Regulation?
cato-at-liberty.org 10/14/2009 — The New York Times tries to spin the work of Nobel laureates Elinor Ostrom and Oliver Williamson as not anti-regulation :
Neither Ms. Ostrom nor Mr. Williamson has argued against regulation. Quite the contrary, their work found that people in ...
"Making Financial Regulation Work"
economistsview.typepad.com 6/15/2009 —
This is something I did for the The Hearing blog at the Washington Post:
Making Financial Regulation Work: 50 More Years, by Mark Thoma : Banking regulation imposed in response to the Great Depression and the recurrent panics of the 1800s and ...
Regulation: Too Much or Too Little
daviddfriedman.blogspot.com 9/27/2008 — One comment frequently made about the present financial mess is that it is the fault of deregulation. As I argued recently, it ought rather to be seen as the fault of regulation—more precisely, of government interventions in the housing market ...
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