Financial Services

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International experts from industry, academia, the financial community, and government share lessons learned from their efforts to objectively measure housing risk.

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Former U.S. Senator Chris Dodd (D-CT) speaks at a news conference marking the fifth anniversary of the passing of the Dodd-Frank Wall Street reform law, on Capitol Hill in Washington July 21, 2015. Reuters

The Dodd-Frank Act delegated far more discretionary power to financial regulators  than had ever been granted before and undermined the checks and balances that had historically marked the process.

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Senator Elizabeth Warren (D-MA) speaks at a news conference marking the fifth anniversary of the passing of the Dodd-Frank Wall Street reform law, on Capitol Hill in Washington July 21, 2015. Reuters

The administration’s refusal thus far to admit that the Dodd-Frank Act may be responsible for what could be a future financial catastrophe, must be seen as a wholly political effort to defend what they see as one of President Obama’s key legacies.

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President Barack Obama (L) congratulates Senator Christopher Dodd (D-CT) (C) and Rep. Barney Frank (D-MA) after signing the Dodd-Frank Wall Street Reform and Consumer Protection Act in Washington, July 21, 2010. Reuters

The legislation has hit the banking industry hard, hurting the recovery. Worse is its effect on the rule of law.

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In his testimony before the House Committee on Financial Services, American Enterprise Institute (AEI) economist and banking expert Paul Kupiec discusses two legislative proposals to reform the Federal Reserve.

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Representative Jeb Hensarling, (R-TX), speaks during a Reuters Finance Summit in Washington February 28, 2011.

Before the next economic downturn, Congress should replace Dodd-Frank. With this modest first step, together we can begin to win back America’s promise.

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Representative Jeb Hensarling, (R-TX), speaks during a Reuters Finance Summit in Washington February 28, 2011.

On the fifth anniversary of the Dodd-Frank Act, Chairman Jeb Hensarling (R-TX) and a panel of experts in financial regulation explain the need for reform.

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On the 5 year anniversary of Dodd-Frank, which imposed massive new regulations on the US financial system, AEI economic scholars weigh in on the impact the legislation has had.

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To meet the FSB’s stated goals, TLAC requirements must impose minimum TLAC at all subsidiaries and restrict how TLAC funds can be invested.  An equivalent, but much simpler solution is to significantly increase regulatory capital requirements on systemically important bank subsidiaries.

 

 

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As the Fed becomes more involved with international standard-setting bodies such as the Financial Stability Board, the International Association of Insurance Supervisors, and the Basel Committee on Banking Supervision, Congressional supervision becomes necessary in order to prevent any conflict of interest between the Fed and foreign regulatory agencies.

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The latest from James Pethokoukis and the AEIdeas blog.

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I propose a new designation approach where the FSOC identifies ‘critical’ operations of US BHC that must remain well capitalized, open, and operating normally to prevent financial market disruptions should their parent BHC require reorganization in a judicial bankruptcy jobs.

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