‘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.
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…)
•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 [...]
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 [...]
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...
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...
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 ?
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 [...]
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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 [...]
“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 [...]