Mike & Co. — The renewed interest in the meaning of MetLife followed word yesterday that Sen. Elizabeth Warren and other Democrats including Chris Dodd and Barney Frank submitted amicus briefs arguing in favor of the government’s appeal. Meanwhile, the Fed announced the results of its most recent round of U.S. bank stress tests Thursday, finding that the 33 banks tested have …
Stress Tests: the Banks' 2016 Report Cards (June 24) Read More »
Mike & Co. — It’s all over but the shouting tonight — de facto, de jure, including superdelegates, excluding them, counting raw vote or states won — by any reasonable measure, at long last, the contest is over. It’s easy to believe, it’s hard to believe, but it is undeniably a historic moment. From the sublime …
Mike & Co., President Obama took Donald Trump’s proposals to weaken Wall Street reforms to task and defended his own economic record in a speech Wednesday in Elkhart, Indiana — RV capital of the world and the first city he visited as president in 2009 The speech is notable as roadmap for Democrats touting the recovery …
Mike & Co. — Yesterday, the Senate Banking Committee reported a set of five nominees out –- next they’ll face a Senate confirmation, perhaps through an expedited process. The Democratic rebellion at the SEC nomination hearing in Committee last month, during which Sens. Warren, Schumer, Markeley, and Menendez blocked these very nominations in protest against …
Mike & Co. — Last week Treasury Secretary Jack Lew wrote an opinion piece in the Wall Street Journal explaining why he is leading the FSOC to take a look at asset management firms for SIFI designation. He had a larger purpose in mind. In light of the MetLife v FSOC ruling it was seen …
Mike & Co., Two weeks after the MetLife decision was handed down, here come the Fed/FDIC living will findings that half of the nation’s eight SIFI banks failed to submit “credible” plans. The main policy takeaways from two developments appear at first blush to diverge sharply. MetLife restricts the authority of the USG (or …
Mike & Co. — Here at the end of a quiet recess, the dust is still settling following the D.C. Federal District Court ruling against the FSOC on Wednesday in the MetLife case, with regulators and businesses speculating about the case’s ultimate disposition, scope, and the implications for TBTF designations going forward. From a systemic risk perspective, …
Mike & Co. — Practically without warning, a U.S. District Court Judge in Washington issued a ruling this morning that would impose the greatest limitation to the scope of Dodd-Frank in the law’s five-year history. MetLife had challenged the authority of the Financial Stability Oversight Council (FSOC) to designate the firm a SIFI (systemically …
Mike & Co. – Now that Senate Banking Chair Richard Shelby has beaten back his primary challenge, there are signs of life on the Committee. The first nominations to get votes in over a year have cleared and there is talk once again of a Shelby 2.0 financial regulatory package. Meanwhile, the House has …
Mike & Co. — It may feel like Michigan-morning-after but by dint of Mississippi, HRC padded her delegate lead last night. On Monday, President Obama held a financial regulatory summit in the Roosevelt Room of the White House. Joined by the heads of the Fed, the FDIC, and the CFPB, Obama declared “I want to …
