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United States: Regulatory: Why Is "Abusive" The Most Feared Word In Dodd-Frank? - Foley & Lardner

A discussion on the regulatory guidance given for the meaning of the word 'abusive' under UDAAP The Dodd-Frank Wall Street Reform and Consumer Protection Act.        

act discussion dodd-frank foley guidance lardner protection states street udaap united wall

Found 1 month ago on channel Mondaq

United States: Reminder Of Upcoming Dodd-Frank Compliance Dates For End-Users - Vinson & Elkins LLP

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 imposes a new regulatory framework upon swap dealers, major swap participants and other counterparties to swaps, including end-users.        

act compliance dodd-frank elkins llp protection states street united vinson wall

Found 1 month ago on channel Mondaq

Too Big To Fail: 3 Lessons of the “London Whale” Debacle

Of the many scandals that have plagued Wall Street of late, the “London Whale” trades, which cost banking giant JPMorgan Chase more than $6 billion, has captured the attention of the financial media more than any other. The biggest reason for journalists’ obsession with this story is that it tarnished the reputation of JPMorgan CEO Jamie Dimon, who is widely thought to be one of the most competent bank CEOs in the business, and one of the few who ably steered his bank through the subprime-mortgage crisis. And as far as the media is concerned, the bigger they come, the more people like to watch ’em fall. But there is more to this story than the comeuppance of the biggest banker on the Street today. The London Whale debacle, and the subsequent Senate investigation, gives us a window into the culture and operations of the biggest bank in America as it adjusts to a postcrisis world in which Dodd-Frank is the law of the land. And the picture painted isn’t exactly comforting. The ...

america attention billion business ceo ceos chase cio comeuppance competence dimon dodd-frank insolvency institutions investigation investment jamie journalists jpmorgan london whale luckily obsession office operations reputation senate situation street wall

Found more than 1 month ago on channel TIME Moneyland

What Have We Learned? 3 Lessons from the London Whale Trading Debacle

Of the many scandals that have plagued Wall Street of late, the “London Whale” trades, which cost banking giant JPMorgan Chase more than $6 billion, has captured the attention of the financial media more than any other. The biggest reason for journalists’ obsession with this story is that it tarnished the reputation of JPMorgan CEO Jamie Dimon, who is widely thought to be one of the most competent bank CEOs in the business, and one of the few who ably steered his bank through the subprime mortgage crisis. And as far as the media is concerned, the bigger they come, the more people like to watch ‘em fall. But there is more to this story than the comeuppance of the biggest banker on the Street today. The London Whale debacle, and the subsequent Senate investigation, gives us a window into the culture and operations of the biggest bank in America as it adjusts to a post-crisis world in which Dodd-Frank is the law of the land. And the picture painted isn’t exactly comforting. The ...

america attention billion business ceo ceos chase cio comeuppance competence dimon dodd-frank insolvency institutions investigation investment jamie journalists jpmorgan london whale luckily obsession office operations reputation senate situation street wall

Found more than 1 month ago on channel TIME Business

Book: Wall Street’s Biggest (and Most Dangerous) Untruth

Four and a half years after the passage of TARP, one thing is abundantly clear: The American public really, really hates bank bailouts. And yet, nearly three years after the passage of the Dodd-Frank financial reform bill, it remains unclear whether our financial system is significantly safer, and whether taxpayers are any less likely to have to bail out another large bank in the future. That’s why an increasing number of voices on both sides of the political spectrum have been pressing for additional reforms that would reduce the chances that the federal government will have to step in to save another big, dumb bank. Adding to this chorus are financial economists Anat Admati and Martin Hellwig with an important new book called The Banker’s New Clothes, which offers what the Dodd-Frank legislation mostly lacked: a simple and elegant solution to the problem of financial stability. They argue that banks should fund themselves with more equity and less debt — or, to put it bluntly, ...

admanti admati air american anat break-up-the-banks business discussion dodd-frank economists equity government hellwig legislation martin operations profitability protestations questions solution stability street tarp untruth wall

Found more than 1 month ago on channel TIME Business