In November 2009, Senate Banking Committee Chairman Christopher Dodd advanced a radical proposal: to create a super-regulator that would take over most of the bank supervision that had been done by the Federal Reserve System, the Federal Deposit Insurance Corp. and other agencies.
Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last week.
When U.S. Senator Elizabeth Warren, the former law-school professor and self-appointed scourge of Wall Street, gets her history terribly wrong -- and proposes a new law based on that lack of understanding -- there must be a reckoning.
U.S. Senator Elizabeth Warren and a bipartisan group of lawmakers have introduced a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
Three years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, it’s time to be honest about financial-sector reform: It hasn’t gone well. (If you doubt this, read these articles by former U.S. Senator Ted Kaufman.)