FY 2020 Coming into View

Update 346 — FY 2020 Coming into ViewBackward, Baby Steps So Far; Cliff 2.0 Looms As Congress departs for a two-week recess, it leaves behind a budget process with miles to go. Where does the FY 2020 budget making process stand, what steps are ahead, what is at stake, and what are the obstacles to …

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HFSC Megabank CEO Hearing

Update 345 — HFSC Megabank CEO Hearing:Private Custodians of Public Systemic Risk The CEOs of the nation’s biggest financial institutions will meet on Capitol Hill tomorrow for the first time since the financial crisis for a House Financial Services Committee hearing.  The purpose of this unusual gathering is to hold the firms these CEOs lead …

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Will You be Able to Retire?

Update 344 — Will You be Able to Retire?Boomer vs. Millennial Takes on Senior Security The average age of baby boomers is 65 today. 10,000 boomers retire every day and thousands more reach the antediluvian retirement age of 65.  Those who haven’t retired are generally unprepared for it financially. Among millennials and younger Americans, the …

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Changing of the HFSC Guard (April 2)

Update 343 — Changing of the HFSC Guard:New Members and Majority on Capital Markets Tomorrow, the House Financial Services Subcommittee that considers bills regulating capital markets activities will do so for the first time this Congress.  Gone are the days when the Subcommittee’s majority pursued a deregulatory campaign to undo Dodd-Frank protections against abuses like …

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Senate Introduces H.R. 1 Companion Bill (March 29)

Update 342: Sen. Companion to HR 1 Dropped, Cosponsored by Entire Democratic Caucus On Wednesday, Sens. Tom Udall and Jeff Merkley introduced S. 949, the “For the People Act,” the Senate companion bill to H.R. 1.  The bill was co-sponsored by the entire Senate Democratic caucus and the two Democratic-leaning independents, Sens. Sanders and King …

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Middle Class Cash & Credit Crunch (March 22)

Update 340: Middle Class Cash & Credit CrunchCase Studies, Problems and Policy Solutions The long-awaited, much discussed, often feared inversion of the yield curve — where long-term yields fall below short-term ones — occurred at about 1 pm ET this afternoon.  As we have discussed, this is a widely recognized harbinger of recession, news that …

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Red Herring from FSOC Gets Hearing at SBC (March 15)

Update 338 — “Activities-Based” Designation: Red Herring from FSOC Gets Hearing at SBC With April Fool’s Day coming up, one might believe a Trump Treasury proposal seeks greater regulatory focus on systemically risky financial activity, were one to read last week’s FSOC proposal (Authority To Require Supervision and Regulation of Certain Nonbank Financial Companies).  But …

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