November 5, 2009 at 2:21 pm
With some saying he’s doing it only to show his independence from bank lobbyists while facing a tough re-election fight, Connecticut Sen. Chris Dodd is preparing a bill to radically revamp how the financial system is regulated. Nonetheless, Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law, says Dodd’s idea [...]
October 23, 2009 at 2:40 pm
In an effort to avoid unnecessary risk taking in the financial services industry, the Federal Reserve has issued guidelines regulating bankers’ pay. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Fed Board of Governors, says it’s a welcome step but not enough.
What is missing [...]
October 22, 2009 at 5:29 pm
In unprecedented moves, President Obama’s “pay czar” has put restrictions on compensation for top earners at the 7 biggest recipients of taxpayer bailout funds, while the Federal Reserve issued new guidelines to restrict pay practices at all banks to prevent excessive risk taking. School of Management Professor James Post, an expert on corporate governance and business [...]
October 14, 2009 at 3:14 pm
Despite the taxpayer bailouts and regulators pressuring Wall Street’s compensation culture, finance-industry pay is expected to push to a record high of $140 billion this year. Former Federal Reserve Bank examiner Mark T. Williams, who teaches finance at the School of Management, says only emplyees that take low risks and make large profits should be rewarded.
“Compensation [...]
October 5, 2009 at 3:38 pm
A report from the inspector general overseeing the government’s bailout of the banking system says the Treasury Department was less than candid last fall about the health of the bailed-out banks. Visiting law Professor Elizabeth Nowicki, a former SEC attorney and Wall Street lawyer, says such lack of transparancy is what caused a run on [...]
October 1, 2009 at 11:52 am
After months of legal scrutiny of Bank of America’s takeover of Merrill Lynch, BofA CEO Ken Lewis says he’ll step down at year’s end. School of Management Professor James Post, an authority on corporate governance and business ethics, says the momentous changes that Lewis orchestrated left BofA vulnerable and Lewis himself personally accountable.
“What brought Lewis [...]
September 23, 2009 at 4:54 pm
When the Group of 20 meets in Pittsburgh this week, a focus will be a push for banks to keep more reserves to prevent another crash. Former Deputy Comptroller of the Currency Bob Bench, now a senior fellow at the BU School of Law’s Morin Center for Banking and Financial Law, says this is necessary [...]
September 21, 2009 at 4:16 pm
A proposal by Senate Banking Committee Chair Chris Dodd would merge the four bank regulatory agencies into a single super regulator, diminishing the singular power of the Federal Reserve. School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Fed Board of Governors, [...]
September 14, 2009 at 9:11 am
President Obama is using the one-year anniversary of the collapse of Lehman Brothers to reiterate his push for financial regulatory reform. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board of Governors, can discuss where the reform effort has come and [...]
September 11, 2009 at 1:36 pm
With the one-year anniversary approaching of the collapse of Lehman Brothers, Inc., debate is under way over whether the government could have prevented the demise of the investment bank. Former Federal Reserve Bank examiner Mark T. Williams, who teaches finance in the School of Management and is writing a book on Lehman’s fall, can discuss [...]
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