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Break Up the Banks? Here’s an Alternative

By Editor ⋅ 13 February, 2012 ⋅ Post a comment

By Tyler Cower. Bailing out financial institutions deemed “too big to fail” has become wildly unpopular, as people across the political spectrum are now talking about splitting up America’s large banks. But such breakups are probably not the best way forward, because they would penalize size instead of failure. In light of the financial chaos [...]

Cameron criticises European financial tax

By Editor ⋅ 27 January, 2012 ⋅ Post a comment

David Cameron, UK prime minister, reopened tensions on Thursday with Paris and Berlin, after he said the economic design of the eurozone was seriously flawed and described as “madness” plans for a European tax on financial transactions. The prime minister also made pointed – if indirect – criticisms of Germany, insisting some countries must allow [...]

Accountability of the Bank of England

By Editor ⋅ 20 January, 2012 ⋅ Post a comment

Response from the Court of the Bank of England to the recommendations made by the Treasury Committee and Joint Committee on the draft financial services bill on the accountability of the Bank of England. On 8 November 2011, the Treasury Select Committee of the House of Commons published a Report on the “Accountability of the [...]

Britain’s financial industry: Death by a thousand cuts

By Editor ⋅ 7 January, 2012 ⋅ Post a comment

The City is one of Britain’s great export industries. Yet its continued success is far from certain. From high up in their towers some 90,000 bankers look down on the Thames as it meanders past what was, in living memory, the world’s busiest port. Six decades ago these shores saw a daily tide of vessels [...]

Why the City of London is European

By Editor ⋅ 27 December, 2011 ⋅ Post a comment

Why the City of London is European: David Cameron must persuade the French and other EU members that London’s financial centre is their asset too. Next month’s Franco-British collôque will provide much-needed group therapy for a relationship in crisis. The easy part will be where UK delegates reiterate their commitment to an open and competitive [...]

Lessons in bank lobbying

By Editor ⋅ 25 November, 2011 ⋅ Post a comment

Speech: Lessons in lobbying by Robert Jenkins. Not long ago I was a lobbyist for the investment industry. I have now joined the ranks of the regulators I once tried to lobby. Specifically, I am a member of the interim Financial Policy Committee of the Bank of England. The “FPC” is the focal point for [...]

The US Consumer Financial Protection Bureau

By Editor ⋅ 24 July, 2011 ⋅ Post a comment

After 10 months of preparation — hiring staff, creating a management structure, laying out an initial agenda — the bureau officially hit the starting gate on Thursday, a year to the day after the Dodd-Frank financial reform bill was signed into law by President Obama. And, of course, the person who hired most of that [...]

Nearly a year after Dodd-Frank

By Editor ⋅ 14 June, 2011 ⋅ Post a comment

Without strong leaders at the top of the nation’s financial regulatory agencies, the Dodd-Frank financial reform doesn’t have a chance. Whether it is protecting consumers against abusive lending, reforming the mortgage market or reining in too-big-to-fail banks, all require tough and experienced regulators. Too many of these jobs are vacant, or soon will be, or [...]

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