Tagged: Federal Reserve

Financial regulatory reform crunch time

Capitol Hill negotiators from the House and Senate committees dealing with financial regulatory reform are getting down to the details of working out differences between the bills passed in respective chambers, with Democrats holding the majority votes in both.  Former Federal Reserve Bank examiner Mark Williams, who teaches finance in the School of Management and […]

Greenspan notes Fed’s flaws

Ex-Federal Reserve Chairman Alan Greenspan has acknowledged the Fed’s failure to grasp the magnitude of the housing bubble, but offered some policy prescriptions to avoid another crash.  Economics Professor Laurence Kotlikoff, whose new book “Jimmy Stewart is Dead” is about bankings’s future, applauds Greenspan for saying banks should have to hold bonds that automatically covert to equity […]

Financial reg-reform bill under fire

Financial institutions and their allies are gearing up their lobbying effort to weaken Senator Dodd’s proposed financial regulatory reform bill.  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 the proposed creation of a separate consumer-protection group within the Fed could […]

Fed may retain power

Under a regulatory reform measure being considered in the Senate, the Federal Reserve may yet retain oversight power over the nati0n’s biggest banks, with states and the FDIC watching over smaller banks.  Risk-management expert Mark Williams, author of “Uncontrolled Risk” who teaches finance in the School of Management, thinks it’s too soon to be trusting […]

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 […]

Government hits bank pay

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 […]

Banking compensation going back up

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. […]

Regulators pressuring banks

Federal regulators reportedly  have ratcheted up significantly the number of “memorandums of understanding” probation notices sent to troubled banks this year.  The notices can force banks to shore up capital reserves or change management.  School of Law Professor Cornelius Hurley, a former counsel to the Federal Reserve Board of Governors and now director of the Morin […]

Don’t give the Fed a new job

A debate is under way as to whether the Federal Reserve should be given more oversight powers to monitor risk in the U.S. banking system, as the Treasury secretary has proposed.  Former Fed examiner Mark T. Williams, who teaches finance in the School of Management, says the Fed doesn’t deserve and can’t handle any new […]

“Bolder” financial reg overhaul?

Two former SEC chairman are proposing an overhaul of U.S. financial regulation that is significantly “bolder” than that recently proposed by the Treasury Department.  School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, can compare the proposals. Contact Cornelius […]