Former deputy Comtroller of the Currency Robert R. Bench, now senior fellow at the School of Law’s Morin Center for Banking and Financial Law, says the Fed’s “stress tests” on the nation’s largest banks will help clarify the murky state of the industry. “The very good news with these stress-test results is that policymakers have […]
With the release this week of results of the “stress tests” on the nation’s largest banks, Robert Bench, senior fellow at the School of Law’s Morin Center for Banking and Financial Law and former deputy Comptroller of the Currency, says federal regulators will be tough. “The federal banking agencies have the striped-shirt and the whistle, […]
April 27, 2009 at 4:56 pm
School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, says Treasury’s “stress tests” for top U.S. banks is a mess because it only disclosed the test methodology just before the test results will be made public. “For credibility purposes, this […]
April 21, 2009 at 4:52 pm
With word of federal probes under way into alleged fraud involving banking bailout funds, School of Law Professor Tamar Frankel, an authority on securities law and legal ethics, says those receiving TARP funds should be subject to ongoing examinations. “‘It’s the culture, stupid.’ Law not only limits innovations, it also controls competition on innovative antisocial […]
April 15, 2009 at 4:12 pm
Robert Bench, senior fellow at the School of Law’s Morin Center for Banking and Financial Law and a former deputy Comptroller of the Currency, questions whether results should be made public of “stress tests” being run on the nation’s 16 largest banks. “The U.S. government never has disclosed the results of its safety and soundness […]
April 10, 2009 at 11:12 am
School of Management executive-in-residence Mark T. Williams, a former Federal Reserve bank examiner, says the Fed should be sharing more details with the public about the “stress-testing” being conducted on the nation’s 19 largest financial institutions. “It is understandable that the Fed needs to protect the confidential nature of test results. But how the tests […]
School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, says CEOs of TARP-assisted banks must start clearing their toxic assets or get out. “Asked (Sunday) whether the government would force banks to sell their toxic assets and begin lending […]
March 23, 2009 at 10:33 am
School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Overseers, says Treasury’s plan to buy up toxic bank assets is thin on inducements for private investors to get involved. “It appears that the plan is going to be very heavy on […]
March 17, 2009 at 10:56 am
Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, says taxpayer-owned insurance giant AIG should just not pay those executive bonuses and let them sue. “Since the AIG bailout in September, the moribund company has paid out $120B to counterparties and […]
March 16, 2009 at 10:46 am
Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law (and early in his career responsible for executive compensation at Shawmut National Corporation, now part of Bank of America) says there should be no bonuses at bailed-out insurance giant AIG. “It defies imagination that the Treasury Department would sign off on […]
