The Financial Regulation Forum
financial reform
Clearinghouses, Financial Stability, and Financial Reform
11 Apr. Speech by Fed Chairman Ben S. Bernanke, at the 2011 Financial Markets Conference, Stone Mountain, Georgia, April 4, 2011. I am pleased to speak once again at the Federal Reserve Bank of Atlanta’s Financial Markets Conference. This year’s conference covers an interesting mix of topics bearing on the vital ongoing global debate on [...]
EU moving closer to US-style financial reform
Momentum is building across the European Union to replicate the corporate transparency enforcements contained in the US Dodd-Frank financial reform bill, with draft proposals expected by November, according to EU officials. “Dodd-Frank Plus”, the shorthand name for the international replication of the US law, could require fuller disclosure of money flows between companies and governments. [...]
Snippet: More on auditing the Fed
08 May. Sen. Sanders, after intense lobbying by the Obama administration and Fed officials, removed language in his amendment to the financial regulation reform bill that would’ve opened the Fed’s monetary policy deliberations to audits by the congressional GAO (see previous Snippet). The original Sanders amendment eliminated restrictions — passed by the Senate in May [...]
Still needed: A sheriff of finance
“We need a global sheriff.” Those were the words of George Soros ahead of the World Economic Forum’s annual meeting — not this year, or last year, but in 2008, a little more than a month before Bear Stearns neared collapse. Two years on, a day before the world’s top regulators and bankers converge on [...]
Book choice: Freefall: America, Free Markets, and the Sinking of the World Economy
Freefall: America, Free Markets, and the Sinking of the World Economy by Joseph E. Stiglitz Nobel Prize winner Joseph E. Stiglitz explains the current financial crisis—and the coming global economic order. The current global financial crisis carries a “made-in-America” label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported [...]
‘Too big to fail’ spurs on financial cowboys
Three reasons why governments should not guarantee the liabilities of any private sector business are: Such guarantees distort competition. Those that benefit will outperform rivals, not because they are more efficient or better at serving customers, but because they have access to cheaper capital. If the government relieves companies of business risk, more risk will [...]
Reform not revolution
The free market economy is flawed but should be addressed by regulation and reform rather than being replaced by a new economic system, according to a poll conducted in 27 countries. The survey, commissioned by the BBC World Service, found widespread but measured scepticism of the world economic system in light of the financial crisis. [...]
E-learning interactive graphic: Regulatory regimes after the 2008/9 financial crisis
November 2009. The economic crisis has prompted governments across the world to re-evaluate their financial regulatory framework, to try to tackle the causes of, and fallout from, the global downturn. The next 12 months could bring the most dramatic change in financial services regulation in decades. This interactive graphic provides an overview of the financial [...]
Six steps to revitalize the financial system
Opinion by SANFORD I. WEILL AND JUDAH S. KRAUSHAAR The debate over financial services reform has meandered for weeks without a clear sense of urgency. It would be a huge opportunity lost if our political, regulatory and business leaders cannot craft a credible new regulatory foundation for one of America’s pre-eminent industries. It’s time to [...]
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