Financial Regulation

One of the flashing-red warning signs about SVB’s bad balance sheet was the huge cash advances it was taking out of the FHLBank system.

By doing so, Jiko became one of the, if not the, first fintech company to buy a national bank.

Despite years of our best advice, and indeed the better judgments of Sen. Elizabeth Warren and other progressives in Congress, government watchdogs like Americans for Financial Reform (AFR) and others, nearly one year ago President Joe Biden disappointed his responsibility to the public and to his own economic agenda by renominating Donald Trump’s hand picked head of the Fed: Jerome Powell. Biden bafflingly stuck by Powell despite his years of betraying labor unions, environmental groups and frontline communities, and the middle class. As a result, broad coalitions of folks concerned about the climate crisis, about the long term safety and stability of our financial system, about attacks on labor and the working class, about housing insecurity and the long term impacts of the pandemic, mobilized against Powell’s renomination because his storied track record of, well, making each of these things (and more!) worse.

When bankers blow their businesses up, it’s no-questions-asked bailout time. When student borrowers need relief, not so much.

Short-seller Hindenburg Research says the payments mogul Block has inflated user metrics, ignored widespread criminal transactions on its platforms, and evaded regulations.

The SVB collapse rubs in our collective faces the fact that the financiers with great influence over our political economy are, by and large, a pack of greedy idiots.

For the past two years, former Treasury secretary Larry Summers has begged, berated, and bullied federal policy-makers to suck as much wealth as possible, as fast as possible, out of the economy. He just never meant, you know, his wealth or his friends’ wealth.

As of now, Barr is assigned to investigate supervisory failures that occurred under his watch featuring a bank that catered in particular to the crypto and fintech industries which Barr was so active in immediately prior to revolving back into government. Barr is a walking conflict of interest. His central role in the investigation is damning

His defense of HAMP is that his hands were tied, but he seemingly went out of his way to handcuff himself.

Eberly and her co-author, fellow economist Arvind Krishnamurthy, find that Geithner’s policies were excellent, and his biggest critics should shut up.

Insider-trading can’t keep Powell’s right-hand man from becoming CNBC’s new favorite expert.