We finally came full circle relative to subprime, mortgage blues, and the subsequent recession. What we could not see in 2006 are new laws enacted today. Under sweeping financial overhauls that have now passed the House and Senate, home buyers won’t be able to get a mortgage without producing pay stubs or other evidence they [...]
A Democratic official familiar with Senate banking negotiations says a provision that would force banks to spin off their derivatives operations will be incorporated into sweeping regulatory legislation despite Obama administration misgivings.
Here’s the written testimony of Eric Kolchinsky before the Senate Permanent Subcommittee on Investigations last week who, during the majority of 2007, was the Managing Director in charge of the business line which rated sub-prime backed CDOs at Moody’s Investors Service.
One of our most popular articles discusses repeal of Glass Steagall. Robert Reich is Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations. He also explains why our article was so popular:
April 24, 2010 – 12:20 pm
Senate aides inched closer Friday to combining separate bills that would establish oversight of the vast market for derivatives, an effort central to the ongoing push to revamp the nation’s financial regulations.
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