Mike & Co. — As the New York primary results roll in tomorrow, we’ll see how the past fortnight’s debate on Wall Street policy played in the financial capital of America. After an at times tense debate last Thursday, the HRC campaign is in full throttle in the big apple, upstate, and on Long Island. I will …
Mike & Co. — At last night’s debate in Brooklyn, HRC took care of any lingering doubts in a few swift sentences — only one candidate will enforce, if not reinforce, Dodd-Frank… and knows what it means. Dispelling the cloud of uncertainty around Sen. Sanders’ comments on banking policy during his NY Daily News interview, …
Battle of Brooklyn Pt. 1: DFA and Transparency (Apr. 15) Read More »
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. – With both Houses back in session, the Hill is alive with the sound of hearings. Of the many hearings of note this week (ten of which are listed at the end of the update), the most timely is on Wednesday, when Senate Budget Chair Mike Enzi holds the second in a series of …
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 House, which is still on recess this week (the Senate is in) continues to march toward Speaker Ryan’s self-imposed April 29 deadline to vote on a legislative solution to deal with the Puerto Rico debt crisis. Two relevant SCOTUS cases to be handed down before June further complicate the picture. If a bill cannot be …
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, …
