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Abnormal Returns: Friday links: the risk trade
The Big Picture: Regulation Going Backwards
Conglomerate: Will Sarbanes-Oxley Be A Casualty of the Financial Crisis?
Reactions
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#SOX always was an ill-aimed sledgehammer. RT @pr1vacy: RT @ eMichaelPower - RIP Sarbanes-Oxley Act 2002-2009: http://bit.ly/31qlWF 11 days ago |
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RT @ eMichaelPower - RIP Sarbanes-Oxley 2002-2009: http://bit.ly/31qlWF It's about the coverup, not the crime. #governance 11 days ago |
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Good news for America! Big businesses are having more regulations repealed, so the market can work again! http://bit.ly/vv1rS 12 days ago |
Friday links: the risk trade
Abnormal Returns —
... ibid)
Fewer Harvard MBAs going to Wall Street is a good thing. (DealBook)
A bad week for the widening Wall Street-Main Street divide. (Deal Journal)
The Feds have turned a profit on their financial company debt guarantees. (NYTimes)
Sarbanes-Oxley is about to get “gutted.” (Floyd Norris also Big Picture)
Are central clearinghouses for ...
Regulation Going Backwards
The Big Picture —
... and correct marking of assets.
If we really wanted to just help small companies reduce their reporting burdens and maintain acceptable financial controls, how hard is it to exempt an appropriate number of firms with modest revenue.
Instead, this is yet another grab for control by the same groups that helped caused the previosu accounting crisis in the 1990s and 2000s.
The gall is simply unimaginable.
>
Source:
Goodbye to Reforms of 2002
FLOYD NORRIS
NYT: November 5, 2009 ...
Will Sarbanes-Oxley Be A Casualty of the Financial Crisis?
Conglomerate —
Floyd Norris says yes, and I must say I'm surprised. Despite the raft of academic criticism about Sarbanes-Oxley, it is hard to believe that a deregulatory measure would be a popular sell in Congress, though the column is worth a read on that score. Prediction: if the momentum to revisit the statute is strong enough, it is unlikely that it would not be paired with some financial reform directed at this crisis. In that sense, Sarbanes-Oxley has made a Consumer Financial Products Agency that much more likely. ...
Lunchtime Links 11-6
Rolfe Winkler —
Fannie asks for another $15 billion (press release) That brings the company’s total draw on Treasury to $59.9 billion. Here’s the paragraph that scares me: “Total nonperforming loans in our guaranty book of business were $198.3 billion, compared with $171.0 billion on June 30, 2009, and $119.2 billion on December 31, 2008. The carrying value of our foreclosed properties was $7.3 billion, compared with $6.2 billion on June 30, 2009, and $6.6 billion on December 31, 2008.” Why is the value of nonperforming loans growing so much faster than foreclosures? If Fannie’s not going to foreclose, then why ...
