asterisk2a + financialcrisisresponsibilityfee   6

Jan Kregel: The Continuing Risk of Derivatives - YouTube
The other common feature that Kregel notes is that the major objective of active, global financial institutions no longer is the maximization of profits by seeking the lowest cost funds and channeling them to the highest risk-adjusted return. Rather, they are most interested in maximizing the amount of funds intermediated in order to maximize fees and commissions, thereby maximizing the rate of return on bank capital. This means a shift from continuous risk assessment and risk monitoring of funded investment projects that produce recurring flows of interest payments over time, to the identification of riskless "trades" that produce large, single payments with as much of the residual risk as possible carried by the purchasers of the package. The upshot is that most derivative packages mask the actual risk involved in an investment and increase the difficulty in assessing the final return on funds provided.
derivatives  investment  banking  retail  banking  banking  crisis  business  model  risk  aversion  ROI  VAR  CDS  Interestrateswap  financial  literacy  financial  market  financial  crisis  financial  cycle  FinancialCrisisInquiryCommission  tobin-tax  FinancialCrisisResponsibilityFee  CDO  financial  instruments  bonuses  bonus  Greed  shareholder  value  profit  maximisation  Wall  Street  economic  history  self-regulation  regulation  regulators  deregulation  Glass-Steagall  Bank  Oversight  zombie  banks  financial  product 
january 2016 by asterisk2a
Who Will Pay? Austerity vs. Bailouts | Greece, Europe and The Euro! - YouTube
have to be held accountable >> bankers! but have not, just transfered private debt/losses onto public balance sheet which no has to paid down by the weakest of society and collectively by less public investment for the future (output gap/lower productivity) ie into infrastructure and education // stealing from the young // policy making by comfort and trinkets - George Osborne // moral hazard - the options they choose - paulson geithner summers and co made the tbtf and jail even worse! instead should have chosen partial privatization // sold off our future for keeping the gangsters "private" - get out of jail free card for what reason? because it would be not American? American means to be WALL STREET crony capitalistic greed with tax evasion and lobbying to the tunes of millions - your judge - that judges on you whether you get a free out of jail card?! // who will suffer in the end? the public and the weakest of society and unborn! period. long-term. // &! youtu.be/EmHYeGI0b_U
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july 2015 by asterisk2a
Regulating banks: Garrottes and sticks | The Economist
If Europe fails to follow America’s lead, it would be a blow for efforts to create a joined-up approach to global regulation. With the American plan coming on the heels of Britain’s tax on bonuses, there are fears of growing unilateralism. One danger is that this fragmentation results in what Sir Howard Davies, a former head of Britain’s Financial Services Authority, has called “reckless prudence”: a cumbersome patchwork of inconsistent, overlapping rules. That would create a second risk, regulatory arbitrage. If American banks were at a real disadvantage to foreign rivals, they would try to game the rules.

If public anger grows, a reintroduction of Glass-Steagall may just start to look possible.
FinancialCrisisResponsibilityFee  VolckerRule  MeredithWhitney  regulation  reform  banking  banks  financial  Glass-Steagall 
february 2010 by asterisk2a
PIMCO - PIMCO Viewpoints Bank Fee Has Merits but Lacks Financial Clout
First, it is politically popular.

At the simplest level of analysis, the tax offers an immediate signaling device for governments eager to respond to the anger in the streets about bank bonuses and the surge in unemployment. At a deeper level, it marks the end of the flawed vision that a finance-dominated economy is a natural stage in the maturation of post-industrial societies.
FinancialCrisisResponsibilityFee  politics  post-industrial  society  post-crisis  cirisis  response  recession  bank  tax  fee 
january 2010 by asterisk2a
Obama Says Bank Fee Aimed at Recovering Rescue Money (Update1) - Bloomberg.com
“My determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people,”

The fee would apply to financial companies with assets greater than $50 billion. The levy would be based on bank liabilities and be imposed starting June 30 on companies such as Citigroup Inc., American International Group Inc. and Bank of America Corp.

The administration estimates it will raise $90 billion over 10 years and $117 billion over 12 years. An administration official who briefed reporters said the budget office estimates the 10-year figure will be enough to recoup all the losses in the TARP

With congressional elections coming up in November, Obama is tapping into public anger over the taxpayer bailouts of the financial and auto industries,
Even before it was formally released, the proposed Financial Crisis Responsibility Fee drew criticism from the industry.
TARP  banks  banking  regulation  reform  jpmorgan  jpmorganchase  taxation  FinancialCrisisResponsibilityFee  FinancialCrisisInquiryCommission 
january 2010 by asterisk2a

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