How do you improve the culture of Wall Street? Personally punish the industry's bad apples, according to two longtime observers.» Read More
Sheila Bair, Pew Charitable Trusts and former FDIC chairman, discusses Europe's debt problems and says she doesn't see any sudden shocks out of Europe but the banks should have mandated higher capital. Also, the Fast Money traders weigh in on U.S. banks and whether the recent rally indicates banks are stable.
Sheila Bair, former FDIC chair, discusses the Volcker Rule; the FDIC's stress test plan; and why, she believes it's time to break up the "too big to fail" banks.
The government is trying to reduce the need for another Wall Street bailout by requiring banks to report how they are positioned to handle worsening economic conditions, such as increasing unemployment and falling home prices.
The notion that we’ve geared our financial system too much toward the goal of stability may strike many people as a bit far fetched. Haven’t we just lurched from one financial crisis based on mortgages to another based on sovereign debt?
Every now and then I like to imagine a day on which everyone will have finally understood the contribution of the Community Reinvestment Act to the mortgage crisis.
Futures markets are still reeling from the collapse of MF Global and Thursday, U.S. Commodity Futures Trading Commission (CFTC) Commissioner Bart Chilton is suggesting that an insurance fund for derivatives might be just what the markets need to restore confidence.
The bank used by the Occupy Wall Street protesters is under orders from federal banking regulators to fix how it books delinquent loans, according to investigative reporter Teri Buhl.
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CNBC's Hampton Pearson has the details on the bank's quarterly report.
My concerns about the effectiveness of the authority to resolve the failure of an important financial company granted under Title II of the Dodd-Frank still isn’t understood by some readers.
The Dodd-Frank financial reforms were supposed to end bailouts by creating a government authority to "resolve" systemically important financial institutions. But there are good reasons to doubt the so-called Resolution Authority can be effectively implemented for the biggest complex financial institutions.
With shares of two of the largest U.S. banks falling by nearly 20% Monday, the resolution authority of financial regulators to deal with failing banks is being quietly tested.
Bitcoins are an entirely virtual currency allowing users to exchange online credits for goods and services from select retailers, contractors and online trading houses.
The most interesting part of Treasury Secretary Tim Geithner’s op-ed in the Wall Street Journal today is not what the Treasury Secretary wrote—but that he wrote it at all.
In the panicky days of September 2008, a kind of conventional wisdom grew up in the minds of almost all of the Serious People. The failure to "rescue" Lehman Brothers, according to the Con Wiz, was an especially bad mistake on the part of regulators. The government should have arranged a distressed sale by back-stopping Lehman's assets against losses.
Dodd-Frank, love it or hate it, will be one of they key stories this week as some significant deadlines come up this weekend.
The number of banks at risk of failing made up nearly 12 percent of all federally insured banks in the first three months of 2011, the highest level in 18 years.
As temporary leaders overhaul regulations, concerns are rising about their vulnerability to political pressure, the New York Times reports.
Last week at the Milken Institute Conference, Citadel chief Ken Griffin said there was one measure in Dodd-Frank that terrified him: "orderly liquidation authority"—a measure intended to force better risk-taking by banks.
Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corp. this summer, ending a five-year term in which she helped craft the government's response to the 2008 financial crisis.