Big Banks Cutting Loans to Employees With “Hardship”
The big banks are inventing creative ways around the executive compensation limits, reports the Wall Street Journal today.
Stock markets rebound as Barack Obama softens stance on banks
‘I am not interested in punishing banks,’ said president ObamaGlobal stock markets have pushed higher on widespread relief among investors that Barack Obama’s banks clampdown may not be as stringent as they first feared, while the US central bank’s cautious optimism also helped boost sentiment.The FTSE 100 has opened more than 1% higher, a rise [...]
Can Barack Obama deliver on jobs? | Thomas Noyes
Barack Obama’s state of the union speech focused on the economy, where he must make progress to regain momentumBarack Obama opened his first state of the union speech by noting that the United States has seen dark days when “victory was very much in doubt” and “the future was anything but certain”. Early on, the [...]
Wall Street’s $26m lobbyists gear up to fight Obama banks reform
Well-funded and influential lobby operation will argue that better regulation will be enough to solve problemsBanks are mobilising a smooth-running lobbying machine in Washington to battle Barack Obama’s plans to limit the size and scope of Wall Street institutions, as financial services firms gear up to stop a shake-up that could slice away large chunks [...]
Gordon Brown to push for ‘Tobin tax’ after Wall Street crackdown
PM believes US move indicates willingness in Washington to contemplate radical reform of marketsGordon Brown plans to exploit Barack Obama’s surprise crackdown on Wall Street banks to step up Britain’s campaign for a new global transaction tax on financial products.The prime minister believes the dramatic US move to curb risky activities by major US banks [...]
Barack Obama outlines sweeping bank changes
US president proposes new limits on size and trading practices of big banks in effort to prevent return to ‘old practices’ that led to financial crisis
Views on the news: Cadbury’s deal, while Obama takes it to the bank
Nibbling away at people this week: Cadbury’s deal with Kraft, Obama’s desire to tackle big banks, plus a tiff about tax, tooForget Cool Britannia: any last vestiges of national pride appeared to be dead and buried this week as bloggers lined-up to condemn the UK. And what was the final nail? Chocolate.”Welcome to the United [...]
Obama’s banking reforms: should the UK follow America’s lead?
US president has set the agenda for world financial reform by tackling US banks’ trading activities. Should the City be targeted too?
The City is as guilty as Wall Street
Obama’s criticism of Wall Street’s ‘binge of irresponsibility’ applies equally to the City – they both need reformIt has taken a year but Barack Obama has finally got it. Wall Street is to be cut down to size. The White House will take on big finance’s army of lobbyists. Banks stuffed full of US taxpayer [...]
Obama takes on banking industy
Days of excess numbered as president proposes strict restrictions, including anti-hedge fund ‘Volcker rule’An era of high rolling at the Wall Street casino will shortly come to an end if Barack Obama gets his way. The US president has delivered his biggest broadside yet against the financial industry’s excesses and is proposing the strictest restrictions [...]