October 30, 2009 at 3:17 pm
Treasury Secretary Timothy Geithner is still trying to convince Congress to pass legislation to deal with “too big to fail” financial institutions before they get to the point of collapse. 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 [...]
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 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 [...]
With 10 large banks repaying the public billions in bailout money, it divorces the government from running the banks. But Treasury still owns stock warrants in those banks, which could become valuable over time. School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law, thinks the warrants should be [...]
Reports say the Obama administration is cooling on the idea of seeking a swift, major reduction in the regulatory agencies overseeing the financial system. Former Deputy Comptroller of the Currency Robert Bench, now senior fellow at the School of Law’s Morin Center for Banking and Financial Law, says it’s smarter to set priorities.
“This is absolutely the [...]
Federal bank regulators today say yea or nay to the capital-raising plans at nine of the nation’s largest banks. But today also is the deadline for banks to report an in-depth review of their management for approval by the regulators. School of Management Professor James Post, an authority on corporate governance, can discuss long-term impact [...]
Trading in complex derivatives, financial instruments like credit default swaps, in large part sparked the current economic crisis. Now the debate has shifted to how to regulate derivatives and where to trade them. School of Law Professor Charles Whitehead, a securities law expert and long-time Citigroup counsel, can offer some guidance as to where the [...]
The Obama administration is reportedly close to recommending creation of a single agency to regulate banking as a keystone to an overhaul of the entire financial regulatory system. From the School of Law ’s Morin Center for Banking and Financial Law both Professor Cornelius Hurley, a former Federal Reserve counsel, and Robert Bench, former deputy Comptroller of [...]
The FDIC is being lobbied by banking trade groups for permission for banks to be able to bid on the same “toxic” assets that the banks will be putting up for sale in the government’s Public Private Investment program. The Feds haven’t said yet if banks can have it both ways. School of Law Professor Cornelius [...]
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