The Congressionally appointed Financial Crisis Inquiry Commission exploring the 2008 crash questioned executives from Goldman Sachs, the world’s most profitable bank, about how much it makes trading derivatives — those complex financial bets that helped bring down the economy. Goldman Chief Financial Officer David Viniar said they had no way of determining its derivatives data […]
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Tagged 2008 Crash, BU SMG, Congress, David Viniar, derivatives, economic downturn, FCIC, Federal Reserve, Federal Reserve Bank Examiner, Financial Crisis Inquiry Commission, Goldman Chief Financial Officer, Goldman Sachs, Lehman Brothers, Mark Williams, School of Management, Uncontrolled Risk, US Congress
June 29, 2010 at 11:00 am
The death of U.S. Senator Robert Byrd (r.) is threatening to delay passage of the sweeping Wall Street regulatory reform legislation until mid-July after it had been on track for House and Senate votes this week. Law Professor Cornelius Hurley, a former counsel to the Federal Reserve Board of Governors and now director of the Morin […]
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Tagged Barney Frank, Boston University School of Law, BU LAW, Christopher Dodd, Congress, Cornelius Hurley, Federal Reserve, Federal Reserve Board of Governors, financial regulatory reform, House of Representatives, Morin Center for Banking and Financial Law, Robert Byrd, Senate, Senator Byrd, To Big To Fail, US Senate, Wall Street
House and Senate conferees finally worked out a compromise bill aimed at reshaping financial regulations to avoid another Crash of ’08, with a final vote set for next week and President Obama expected to sign it by July 4th. As expected: many winners and losers. One controversial provision gives the SEC authority to require stockbrokers to […]
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Tagged Boston University School of Law, broker-dealers, BU LAW, compromise bill, Congress, Crash of 2008, EC, economic downturn, fiduciary responsibility, financial regulatory reform, House of Representatives, July 4th, law school, President Obama, security law, Senate, Tamar Frankel, Trust and Honesty: America's Business Culture at a Crossroad, US Congress, US Senate
Congress is down to its self-imposed deadline to come up with a financial regulatory reform bill, leaving some of the most controversial provisions — like how to deal with the trading of derivatives — to the final hours. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former […]
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Tagged bank reform, Barney Frank, BU LAW, BU School of Law, Christopher Dodd, Congress, Cornelius Hurley, derivatives trading, Fed Board of Governors, financial regulatory reform, Morin Center for Banking and Financial Law, US Congress
Members of Congress came down hard on BP CEO Tony Hayward (r.) as he testified about the Deepwater Horizon oil spill. But political science Professor Graham Wilson, author of “Business and Politics,” wondered why the spotlight over American’s worst-ever spill hasn’t shone on Transocean, BP’s partner in the Gulf of Mexico oil rig that exploded in […]
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Tagged April 2010, Boston University, BP, Business and Politics, Congress, Deepwater Horizon, Graham Wilson, Gulf coast, Gulf of Mexico, oil spill, Political Science, Tony Hayward, Transocean
On the heels of passing a controversial law involving screening illegal immigrants, the Arizona legislature is considering a bill that would deny citizenship to children of illegal immigrants, despite the 14th Amendment to the U.S. Constitution that specifically grants naturalized citizenship to such children. Law Professor Susan Akram, an authority on immigration law, says getting such […]
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Tagged 14th Amendment, Arizona, Arizona immigration, Boston University, BU School of Law, Congress, Constitution, immigration law, law school, Senate, Susan Akram, U.S. Constitution. Fourteenth Amendment, undocumented immigrants, United States, US Constitution
Congressional negotiators working out difference between the House and Senate financial reform bills are hammering out compromises right and left. One would permanently (and retroactively to January 2008) move from $100,000 to $250,000 the deposit insurance on individual bank accounts. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and […]
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Tagged Boston University, BU Law School, Congress, Cornelius Hurley, FDIC, Fed Board of Governors, federal deposit insurance, Federal Deposit Insurance Corp., financial reform bills, House of Represenatives, law school, Morin Center for Banking and Financial Law, Senate
June 15, 2010 at 11:16 am
It’s all BP all the time in Washington this week. After President Obama addresses the nation Wednesday on the BP oil spill situation, company executives on Thursday face a Congressional hearing on the matter. Visiting law Professor Elizabeth Nowicki, both a former SEC and Wall Street attorney, says BP CEO Tony Hayward would be well-served to remember […]
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Tagged Boston University, BP, BP CEO, BP oil spill, BU Law School, Business and Politics, CEO, Congress, Deepwater Horizon oil spill, Elizabeth Nowicki, Graham Wilson, Political Science, President Obama, SEC, Tony Hayward, Wall Street
A long fight over how the federal government taxes investment partnerships is ending as Senate Democrats now plan to more than double taxes on private-equity, hedge-fund and certain real-estate managers. It would no longer let people running such partnerships pay the lower capital-gains taxes on what were basically wages. The tax hike on “carried interest” expected […]
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Tagged capital-gains tax, carried interest, Congress, Daniel Berman, Graduate Tax Programs, hedge funds, private equity funds, Senate Democrats, tax hike, taxes, Treasury
Capitol Hill negotiators from the House and Senate committees dealing with financial regulatory reform are getting down to the details of working out differences between the bills passed in respective chambers, with Democrats holding the majority votes in both. Former Federal Reserve Bank examiner Mark Williams, who teaches finance in the School of Management and […]
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Tagged Barney Frank, Chrisopher Dodd, Congress, FDIC, Federal Reserve, financial regulatory reform, House of Representatives, Lehman Brothers, Mark Williams, School of Management, Senate, Treasury Department, Uncontrolled Risk
