by David Schwartz J.D. CPA | Dec 19, 2017 | All, Commentary
To look for the effect of new rules on banks, regulators rely on academic models that treat banks as aggregates. In truth, global banks are collections of service businesses, not simply larger versions of George Bailey’s 1946 community lender. Missing that fact may be...
by David Schwartz J.D. CPA | Dec 19, 2017 | All, Commentary
The 180th anniversary of J.P. Morgan’s birth will fall on Monday, April 17th, 2017. The great financier died aged 76, a few months after testifying before the U.S. Congress in the Money Trust hearings. By all accounts, Morgan shocked the national media when he said...
by David Schwartz J.D. CPA | Aug 27, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
Federal Reserve Chairwoman Janet L. Yellen strongly defended post-crisis financial reforms, saying that new regulations have strengthened the U.S. financial markets and wholesale roll-back would be unwise. In remarks delivered at a symposium sponsored by the Fed in...
by David Schwartz J.D. CPA | Aug 7, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In an August 2, 2017 address, President and CEO of the Federal Reserve Bank of Cleveland Loretta J. Mester advocated a fresh risk assessment to recalibrate financial regulations and right-size them to ease the burden on smaller banks. Ms. Mester proposed...
by David Schwartz J.D. CPA | Jul 27, 2017 | All, Formal Regulatory Remedies
At his July 27, 2017 confirmation hearing before the Senate Banking Committee, Randal Quarles testified that if confirmed he would advocate not for a rollback, but a reexamination of post-crisis reforms. He also advocated for better transparency on the part of...
