The Good, The Bad & The Ugly – Week of 11/19/12

The Good

  • Simon Johnson examines a 10/15 speech by NY Fed President William Dudley in which he made an “unexpectedly forceful” case for reform of TBTF banks. Bloomberg, 11/26/12

The Bad

  • Treasury Secretary Geithner exempts Foreign exchange and foreign currency swaps from Dodd-Frank restrictions, Economic Policy Journal, 11/18/12
  • Treasury Undersecretary for Domestic Finance, Mary J. Miller, is reportedly on the shortlist for SEC Chairman. Miller’s three decades of experience in fund management make her an unlikely advocate for stronger oversight of her own industry.  New York Times 11/22/12

The Ugly

  • Matt Taibbi covers a “lurid sex-and-corruption lawsuit” by a former SEC investigator against the agency. This is only the complaint, but it makes for some ugly reading. Rolling Stone, 11/19/12
  • The divergence between the fortunes of Wall Street and mortgage borrowers is only getting worse, as “the biggest lenders are doing better than ever while those with the least, many of them black borrowers, are struggling the most.” Bloomberg, 11/19/12
  • A powerful corporate CEO lobbying group, Fix the Debt, is using the fiscal cliff negotiations to lobby for massive corporate tax benefits in exchange for big business CEO support for entitlement cuts. Huffington Post 11/25/12

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