Tagged: Cornelius Hurley

Crisis panel probes bank “window dressing”

The Financial Crisis Inquiry Commission, which is looking into the causes for the 2008 economic crash, today questioned former executives from the investment bank Bear Stearns (sold to J.P. Morgan in a firesale after a run on the bank) and explored the open-secret of how Wall Street banks legally fudged their quarterly books to dress up […]

Fed guidelines for bank pay

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 […]