Elizabeth Warren has taken on two conflict of interest issues recently in her challenge to Wall Street-sponsored objections to a proposed federal rule that would as she has said end advisors making investment recommendations “based on the free vacations, cars, bonuses, fees, and other kickbacks” from mutual fund managers. Her efforts also extended into alleged… Read More >>
Should Glass-Steagall Be Revived to Stop ‘Too Big to Fail?’
(Editor’s note: This is the first part of a two-part series on whether in the wake of the repeal of the Glass–Steagall Act of 1932 there are financial institutions that have become “too big to fail” because they have essentially bet too much of the firm’s money on highly risky capital markets. The recent turmoil… Read More >>
Sen. Warren Urges Regulators to Review Symphony’s Messaging
Wall Street critic U.S. Senator Elizabeth Warren is attempting to focus the attention of six federal regulators on “compliance and enforcement issues related to a new communications tool created by Symphony Communications” and used by financial institutions — many of whom are backing Symphony. Warren sent letters to the regulators about her main concern that… Read More >>
Regulators Will Likely Pay Attention to the Senator’s Letter
As FTF News is reporting, U.S. Senator Elizabeth Warren is reaching out to six federal regulators via letters to raise concerns that the banks and trading firms using Symphony Communications’ instant messaging and collaboration services will have their interactions hidden from regulatory scrutiny. First, I am impressed that a U.S. Senator and her staff have… Read More >>
Billion-Dollar Settlements Sting A-List Banks and Investors
The best known aphorism attributed to the late U.S. Senator Everett Dirksen, the honey-voiced Republican Minority Leader in the LBJ era, is “a billion here, a billion there, and pretty soon you’re talking real money.” One wonders what Dirksen would make of the multi-billion-dollar settlements that Goldman Sachs, Bank of America and other giant banks… Read More >>
