
Peter Zeihan: Why Do the Democrats Keep Losing Ground?
The future of the Democratic Party in the US isn’t looking too bright. When strategy and targeting don’t change for over half a century, I…
Thought Leader: Peter Zeihan
By Sheila Bair (original source Yahoo Finance)
“Surely hell has a special place reserved for big bank advocates using a worldwide health crisis to pursue their deregulatory agenda. Witness a note issued by Bank of America on Tuesday calling for a weakening of financial regulations across the board — and pointedly, asking a panicky Congress to provide it, bypassing regulatory authorities who know better, or at least should know better. The BofA note — which echoes a whispering campaign being waged by big bank lobbyists — contains sweeping arguments to essentially undermine every meaningful reform implemented after the 2008 financial crisis.
But before addressing this unabashed promotion of self-interest by one of the country’s biggest banks, let’s start by acknowledging that there is a semblance of rationality underlying BofA’s arguments. During times of stress, it does make sense to temporarily loosen bank capital and liquidity rules. Indeed, the post-2008 crisis regulatory framework is designed to accomplish that result, without the need to resort to legislation. Both the liquidity rules (which require that banks keep a certain amount of highly liquid assets on their balance sheets) and the capital rules (which make banks more resilient by limiting the amount of debt banks themselves can use to fund themselves) have built-in buffers that are meant to be used in a downturn. And it may well be time for bank regulators to encourage banks to dip into those buffers. But the mechanisms are already in place for them to do so as regulators signaled this week.”
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Peter Zeihan: Why Do the Democrats Keep Losing Ground?
The future of the Democratic Party in the US isn’t looking too bright. When strategy and targeting don’t change for over half a century, I…
Thought Leader: Peter Zeihan
Peter Goodman: His Start-Up May Not Survive Trump’s Tariffs
A sourdough baker turned entrepreneur in North Carolina has delayed his new product as he contemplates the prospect that higher costs will doom his company.…
Thought Leader: Peter Goodman
Patrick McGee: Is Tim Cook the Right or Risky Choice for Apple?
Deepwater’s Gene Munster and author of ‘Apple in China’ Patrick McGee, join ‘The Exchange’ to discuss whether Apple needs a new CEO and what needs…
Thought Leader: Patrick McGee