‘Reforming Global Finance’
News, opinion, proposals for reforming finance at global and national levels. Tracks new laws to curb speculative finance, transaction taxes and how financiers caused the collapse of 2008-9. News on monetary-systems reform of the Federal Reserve, IMF, World Bank, BIS and central banks.
Relates to: SRI, Transforming Finance, Beyond GDP, Community Development Solutions, Reports You Need, EthicalMarkets.tv
A Start Has Been Made With This Senate Bill, But We Still Need a Complete Audit of the Fed – Ed.
The Senate just voted, 96-0, to audit the Federal Reserve. Soon, we will know what the Federal Reserve did with the trillions of dollars that it handed out during the financial crisis. (more…)
Naked Capitalism
•On the Fat Fingered Trade and Market Freakout •We Speak on BNN About Market Upheaval, Financial Reform •Auerback: Yes, Virginia. There is a Difference Between Greece and the US •Guest Post: Fed Audit Deal Reached In Senate On the Fat Fingered Trade and Market Freakout Posted: 07 May 2010 12:27 AM PDT We’ll know in due [...]
Business As Usual on Fat-Finger Friday
Wow, we are sinking to new levels of idiocy now. The MSM would have you believe that the tremendous sell-off in the markets was just a trading error. If it was a trading error, then these markets SUCK! Are you telling me we put TRILLIONS of dollars, including our retirement savings, into a system that can be completely thrown into chaos because [...]
SEC Said to Consider New Rules as Market Drop Probed (Update1)
May 8 (Bloomberg) -- The U.S. Securities and Exchange Commission is considering regulatory changes aimed at slowing stock trading during periods of cascading prices, even though the agency hasn’t yet concluded what caused this week’s market plunge, two people familiar with the matter said. Read more...
Coverage of TBTF Amendment FAIL Fails
The Senate voted 61-33 yesterday against the so-called SAFE Banking Act, an amendment to the financial-reform bill that would have required the breakup of the megabanks. Read more...
The Big Picture
You Own the Red Roof Inn, Thanks to the Fed Is Your Senator a Bankster? Oil Spill and the Municipal Bond Market High-Speed Trading Glitch ?
STOCK MARKET COLLAPSE: MORE GOLDMAN MARKET RIGGING?
Ellen Brown May 7, 2010 www.webofdebt.com/articles Last week, Goldman Sachs was on the congressional hot seat, grilled for fraud in its sale of complicated financial products called “synthetic CDOs.” This week the heat was off, as all eyes turned to the attack of the shorts on Greek sovereign debt and the dire threat of a sovereign Greek [...]
Sovereign Governments v. Lords of Finance
SYNDICATED DISTRIBUTION TO 200 CLIENTS IN ASIA, EUROPE, LATIN AMERICA AND AFRICA. For information on subscribing to IPS Columnist Service, Rome, contact Pablo Piacentini at [email protected], fax 39-06-4817877, or his assistant Francesca Buffo at [email protected] For permission to syndicate or reprint contact: Pablo Piacentini at [...]
Weaknesses in financial sector risk management persist, says the Economist Intelligence Unit
Many of the flaws in risk management at banks and insurers that precipitated the global financial crisis remain unaddressed even as new risks have emerged, according to new research from the Economist Intelligence Unit. The report, Rebuilding trust: Next steps for risk management in financial services, sponsored by SAS, examines the steps that [...]
The Baseline Scenario
“Most Observers” Do Not Agree With Larry Summers On Banking Posted: 03 May 2010 06:42 AM PDT By Simon Johnson What is the basis for major policy decisions in the United States ? Is it years of careful study, using the concentration of knowledge and expertise for which this country is known and respected around the world? Or is it some [...]
More invaluable advice from Robert A. G. Monks, analyzing the new breed of dysfunctional “drone corporations.” He calls out the most influential trustees of pension funds, endowments, and foundations by name to take responsibility. A must read by asset managers and trustees worldwide.