blogs.wsj.com - 10/28/2009
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Here are some key parts of the draft legislation hashed out between House Financial Services Committee Chairman Barney Frank (D., Mass.) and the Treasury Department. 1) It would create a financial services oversight council, chaired by the Treasury Secretary, which would consist of Federal ...
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Some Praise and Questions for the US Treasury
The Aleph Blog —
... . Better company.) Here are some of the details. Far better to liquidate such institutions rather than bailing out the holding companies (what idiocy!). That said, why would we give more money to GMAC? ...
S&P critiques the US “too big to fail” draft bill
FT Alphaville —
Rating agency Standard & Poor’s is a touch concerned the initial draft of the Financial Stability Improvement Act of 2009 might hurt the creditworthiness of US financial firms. The draft bill, released in October by the Treasury and the US House Financial Services Committee, proposed a blueprint for reducing systemic risk and dealing with institutions considered “too big to fail.” But S&P believes that aspects of the legislation, if enacted in its current form, “suggest that certain forms of government support for financial institutions may be less forthcoming under future ...
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The Federal Reserve is immoral
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newyorkfed.org 10/19/2009 — Numerous Federal Reserve communications have indicated that reverse repurchase agreements are a tool that could be used to support a reduction in monetary accommodation at the appropriate time. Over the past year, the Federal Reserve Bank of New York ...
Ending "Too Big To Fail"?
market-ticker.denninger.net 10/28/2009 —
The WSJ reports:
WASHINGTON -- A deal between the Treasury Department and a key House Democrat would give the government sweeping new powers to police the country's largest financial companies, including the ability to seize and break ...
Federal Reserve reverse repurchases
econbrowser.com 9/28/2009 — Here I offer some thoughts on Bloomberg's account that the Fed has made inquiries with its dealers about the feasibility of a significant increase in the Fed's reverse repo operations.
First, a little background. The traditional tool of monetary ...
Bernanke Under Fire: Grayson / Paul
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In a letter to The Senate Banking Committee today Representatives Grayson and Paul demanded of Senator Dodd that Bernanke's reconfirmation hearing be suspended until The Fed provides answers to several questions, specifically:
Information ...
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