Posts Tagged ‘regulation’

George Soros Holds Forth On Derivatives And Regulation

George Soros weighed in on derivatives and financial system regulation during a trip to China. He didn’t pull any punches on either subject. He has scant use for derivatives in general and believes credit default swaps are “instruments of destruction” that need to be outlawed. From Reuters: He said one financial institution that discovered to […]

Should We Have One Regulator Or Many?

Everyone seems to have an opinion about whether reregulation of the financial institutions should vest control in one super-regulator or a sharing of responsibilities among a handful, so I’ll throw my two cents worth into the pot. Though inefficient it is, I would prefer to see some sort of a power sharing regime. Here, in […]

TED’s Thought On Regulation

Personally, I’m still working over regulatory reform in my mind. I’ve read Simon Johnson and others and see their points in favor of changing the rules but at the same time I’m frightened about what might come out of the swamp we call a Congress. I expect to do a post (maybe several) on this […]

Reregulation: The First Real Shot Of The War

Finally someone has come out with a comprehensive idea of how to deal with reregulation. The WSJ Real Time economics blog has some of the details, but the official version doesn’t come out until tomorrow. The people behind it are impressive so it should at least get some play for a little while, at least […]

A Warning We Should Have Heeded

Nice article in the Telegraph about Brooksley Born who tried and failed to get former President Clinton to regulate derivatives. Admirably independent, Born issued warnings about the systemic dangers posed by America’s vast and entirely unregulated “over-the-counter” derivatives market. Worth some $600,000bn (£375,000bn) today, having grown 20-fold since Born first raised the alarm, there is […]

One Man’s View Of Regulators

I’m not a big fan of Richard Shelby. Nevertheless his remarks to Tim Geithner today deserve notice. “Another thing that the TARP has accomplished is covering up the egregious failures of our banking regulators over the past decade,” Sen. Shelby said at the hearing, where Mr. Geithner was the only witness. “TARP funds have saved […]

Treasury Proposes Derivatives Regulation

Well it’s only been what eleven years since Long Term Credit almost brought down the financial system and the world was introduced to the word “derivatives.” They were a brand new concept back then and appeared to take the entire financial system, or at least the regulatory arm of that system, by surprise. A few […]