Mike & Co. — Prospects for productive activity in Congress seem to be slipping away palpably these days. There are far more significant examples, but we look at one relevant case of obstruction and delay that also foreshadows some central and fundamental differences that the fall campaign is likely to revolve around. The example is …
Mike & Co. — During the lull on the Hill with the Senate in recess this week, attention shifted to the regulatory front, with two agencies making news with major proposed rules addressing issues at opposites ends of the financial industry spectrum. On Tuesday, the Fed issued the long-awaited rule on the treatment of qualified …
Mike & Co. — Hillary’s commanding victory in the New York primary last night is cause for celebration and bring the Secretary a decisive step toward the Democratic nomination. Tremendous effort and outcome — congratulations all around. Speaking of nominations, the path forward has gotten still murkier this month in Senate Banking. Four Committee Democrats …
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. — The WSJ reported this afternoon that federal regulators are preparing to inform at least half of the nation’s eight systemically important banks that their living wills, the documents that dictate their bankruptcy plans, are not adequate. For these firms, such an announcement would have many effects, from requiring that they go …
Mike & Co — The week opened with an announcement by Treasury of rules designed to curb corporate inversions. By week’s end, the rules — which take effect on Monday — had their first success, or victim, depending on your perspective, as the proposed $70 billion Pfizer/Allergan merger was called off. Secretary Clinton released a …
Mike & Co. — Good seeing you and others at Julie Chon’s tonight. As you know, Labor Secretary Tom Perez announced the final DOL Fiduciary Rule this morning at the Center for American Progress. The Rule was six years in the making, the product of tense negotiations between some moderate Democrats and the Secretary …
Mike & Co. — Tonight, fingers crossed for the Secretary in the Badger State. Tomorrow, Labor Secretary Perez will release the final version of the long awaited DOL Fiduciary Rule, ending a long slog toward placing fiduciary responsibilities on myriad investment brokers. The winners and losers of the Rule aren’t always clear, but one thing …
Mike & Co., The busiest week of the session so far was John Boehner’s last as Speaker. Amid the speakership transition, several big-ticket fiscal and financial items moved. What happened and where they stand, ex. the budget, in brief roundup below. As always, contact me for clarification, elaboration, etc. Great weekends all and let’s …
Mike & Co. — The House voted 246-177 tonight in favor of a discharge petition setting up a final House vote tonight orTuesday on reauthorizing the Export-Import Bank, a rare parliamentary maneuver to force the agency’s proposed resurrection onto the House floor, over the opposition of conservative Republicans. If the Bank is ultimately revived, it would mark just the third time in …
