White House Steps Up Push To Toughen Rules On Banks (WSJ) White House officials have intensified their talks with the Treasury Department in the days since J.P. Morgan’s losses came to light, these people say—representing the first tangible political impact from a trading mess that has cost one of the nation’s most prominent banks more than $2 billion…White House and Treasury officials are still determining whether the Volcker rule would have prevented the losses at J.
A senior Treasury Department official pushed back against criticism that financial rules are becoming too complicated, saying that it may not be possible to write simple regulations that address a nuanced, complex financial system. Read Post
One thing that JP Morgan CEO Jamie Dimon said on the conference call where he addressed his bank's $2 billion trading loss last week was that he knew proponents of regulation would use it as an opportunity to push their agenda. He w... Read Post
The Treasury Department has been scrambling to figure out what the new proposals unveiled by Barack Obama last week limiting the size and scope of banks. The proposals came out of the White House rather than the Treasury Department.... Read Post