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I think we will have continuing danger from these markets, and that we will have repeats of the financial criss--it may differ in details, but there will be significant financial downturns and disasters attributed to this regulatory gap, over and... Full Article at Huffington Post
Related Articles
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David M. Shapiro 1. Why did none of the financial institutions that allegedly needed (and actually received) TARP funds beginning in the Fall of 2008 not warn their shareholders of their precarious financial positions in prior public filings? 2. Full Article at City Desk
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WASHINGTON -- This week, congressional Democrats and the U.S. Treasury unveiled the draft of their proposals for financial reform, including a council of regulators and a fund that would actually allow "too big to fail" institutions to fail. Full Article at Forbes
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Obama said the bill was urgent and crucial to prevent excessive risk-taking by big firms. Full Article at VC Circle
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Congressional Democrats and the Obama administration agreed on the legislation, which seeks to protect taxpayers from having to pay for more bailouts, while holding financial firms to much higher capital standards. Full Article at International Business Times
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If our fund is strong and a major nonbank fails, there will be a strong temptation to unfairly raid the bank FDIC fund to pay for it
SOURCE: The Honolulu Advertiser -
Without the ability for the government to step in, manage the failure of a large firm and contain the risk we are resigned to repeat the experience of last fall
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The penalty for being such an institution will be very severe ... There will be death panels enacted by Congress this year, I hope. But they will be for those large institutions who are to be put out of business, whose shareholders will be wiped out, whose executives will be fired, whose boards of direc...
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Never again should taxpayers be put in the position of having to pay for the losses of private institutions ... We need to build a system in which individual firms, no matter how large or important, can fail without risking catastrophic damage to the economy.
