July 5, 2018
Big Banks, Big Risks –– Here We Go Again?
I recommend listening to this wonderfully informative interview with Professor Michael Greenberger. Greenberger is the former director of trading and markets at the Commodity Futures Trading Commission.When speaking with NPR, Greenberger reflects on his new working paper entitled “Too Big to Fail U.S. Banks’ Regulatory Alchemy.” The rather wonky, yet informative subtitle is: “Converting an Obscure Agency Footnote into an ‘At Will’ Nullification of Dodd-Frank’s Regulation of the MultiTrillion Dollar Financial Swaps Market.”
In mid June, I was fortunate to attend the INET breakfast where this paper was released. During the discussion, former Fed Chair Paul Volcker remarked, ““I’m 90.” After 70 years in and out of banking “What strikes me. I’ve seen it all before.”
Link to the NPR interview here
Link to Greenberger’s working paper here