
Trump's debt amount - which he claimed was $135 million last year - is actually five times that sum.
By Money Morning Staff Reports, Money Morning -
Trump's debt amount - which he claimed was $135 million last year - is actually five times that sum.
At least according to a report published by WSJ yesterday...
By Money Morning Staff Reports, Money Morning -
Trump's debt amount - which he claimed was $135 million last year - is actually five times that sum.
At least according to a report published by WSJ yesterday...
By Money Morning Staff Reports, Money Morning -
Financial industry lobbyists have long been pushing for the Volcker Rule to be overturned.
Now they may see their dreams realized with a GOP-led Congress at Washington's helm.
Here's what could happen to the oft-contentious Dodd-Frank provision...
By Jim Bach, Associate Editor, Money Morning • @JimBach22 -
The Goldman Sachs stock price fell yesterday (Thursday) on what was a wildly successful earnings season for the investment banking giant.
Goldman Sachs Group Inc. (NYSE: GS) earnings crushed estimates across the board. But traders on the day were correct in their assessments. GS stock is not one to pile into right now.
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
Wall Street is about to get paid back by D.C.'s new bosses. Because all politicians are snakes. And some of them are rattlesnakes.
On Jan 14, the House of Representatives passed an act providing banks an additional two years to comply with the Volcker Rule. What does this mean?
It means that extra time will make the 1% richer. Here’s how it works…
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
The Volcker Rule is supposed to ban banks from making hazardous and speculative trades.
But the big banks are begging for the chance to make the same kind of moves that got us into the 2008 global credit crisis, one of the worst in the modern world.
It's like they never learned their lesson...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
The Big Banks reporting earnings this week will be one of the most significant events of 2014. In the big picture, how the banks fare and what their future prospects are could single-handily determine the trajectory and breadth of the recovery we've been hoping for. Even more importantly,
their "financials" could have major implications for your money...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
After several fits and starts, the Volcker Rule is finally reality, even if doesn't take effect until July 2015. The big question is whether this regulation will have the teeth to effectively curb the risky proprietary trading of the Too Big to Fail Banks.
There are more than a few reasons to be skeptical...
By Diane Alter, Contributing Writer, Money Morning -
After two years of review and lengthy revisions, all five regulatory agencies unanimously passed the controversial Volcker Rule on Tuesday.
The 953-page new version of the Volcker Rule imposes a strict ban on proprietary trading (when banks use their own funds to make trades). In effect, it bans banks from trading for their own gain. Included in the revised version is new wording targeting the sort of risk taking that was responsible for last year's $6 billion trading loss at JPMorgan.
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By Garrett Baldwin, Executive Producer, Money Morning -
The Too Big to Fail Banks thought they had Congress completely flummoxed by the complexity of their trading strategies. Any rules that emerged from the Dodd-Frank law would be full of loopholes, or utterly toothless. But then one member of the club did something incredibly stupid. Now, for the first time in years, Washington is
close to clamping down on some of Wall Street's worst excesses...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
The 2010 Dodd-Frank law was conceived with the best of intentions - curb the bad behavior of the Too Big to Fail banks that caused the 2008 financial crisis. Front and center was the Volcker Rule, which was to stop the banks' risky and dangerous proprietary trading. Three years later the Volcker Rule has yet to see the light of day,
but how it's changing is what we really need to worry about...
By Garrett Baldwin, Executive Producer, Money Morning -
On July 21, the Dodd-Frank Act turned three years old.
But, unlike most three-year-olds who can walk and talk, this one hasn't gotten out of the crib yet...
You see, the Dodd-Frank Act was a promise to protect Americans from the excesses and ruthlessness of Wall Street. It was meant to streamline the regulatory process.
But three years later, we are still waiting for its full implementation.
In fact, as of last week, only 155 of 398 rules required by this law are considered final.
That's because instead of focusing on the systemic problems that caused the crisis, the pen to write the bill ended up in the hands of disconnected agencies and lobbyists.
Instead of fixing the serious problems of current law, Dodd-Frank failed to curtail Wall Street - just a few years after a major financial crisis.
At a time when Sen. Elizabeth Warren, D-MA, and Sen. John McCain, R-AZ, have pushed for a new Glass-Steagall Act to reduce risk, some voices like Treasury Secretary Jack Lew argue that the Dodd-Frank bill will alleviate the problems of Too Big to Fail, systemic risk, and cronyism.
But we know that such arguments are spurious at best.
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By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
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By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
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By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler -
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