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  • Wall Street

    Volcker Rule Gets Stuck on Reality

    Slate seems to have picked up on a classic regulatory problem that relates to the (still being finalized) version of the new Volcker Rule. The problem? Regulations often sound reasonable but are practically impossible to implement. Officially, the 2010 Wall Street Reform and Consumer Protection Act (known as Dodd–Frank) required … More

    No Punishment for Bankruptcy?

    As Congress continues to deal with the “too big to fail” issue, it would do well to recognize that bankruptcy does not automatically equate with criminal behavior. Sunday’s New York Times ran a story detailing how Wall Street regulators have essentially “thrown in the towel” (at least for now) on … More

    Boehner Is Right: Tell the Wall Street Moguls "No Tax Hikes"

    Speaker of the U.S. House of Representatives John Boehner (R-OH) has made clear that he opposes tax hikes on Americans. Tax hikes would slow the economy even more and kill jobs. But some “titans of finance” want Congress to hike your taxes. Lloyd Blankfein of Goldman Sachs uttered to Politico … More

    Infographic: JP Morgan Chase and the Loss in Perspective

    JP Morgan Chase’s $2 billion loss on a hedging strategy doesn’t mean that the bank is in crisis, and it certainly does not mean the government needs to step in. JP Morgan Chase is a $2.3 trillion bank with a net worth of $189 billion. While the bank’s loss represents … More

    Morning Bell: Don't Fear the Free Market

    The lingering headline on the front pages this week is that JP Morgan Chase suffered a massive loss on a hedging strategy, costing them $2 billion. That’s no small mistake, and it’s an example of how bad decisions in the free market can cost big money. But just because mistakes … More

    JPMorgan Chase Losses: No Reason for More Regulation

    JPMorgan Chase’s announcement that it has lost $2 billion in a failed hedge strategy sent shock waves through the financial world yesterday. And in Washington, the reaction has had a political tone, with calls to accelerate adoption of the “Volcker Rule” limiting investments by banks. But policymakers should take a … More

    Over 2,400 Tea Partiers Arrested

    The liberal perspective on the “Occupy” movement is really something spectacular. Before the movement had really even announced a position or set of “demands,” progressives were pushing each other out of the way to embrace it. When they did finally come up with a set of ideals, which mostly involve … More

    A Small-Business Owner's Message to "Occupy Wall Street"

    Camping out for nearly a month, yelling, chanting, and painting signs is apparently some people’s idea of a good time. But given all this time on their hands, and with just a little guidance, “Occupy Wall Street” protestors might really make a difference. They could, for example, help out this … More

    Americans Blame Economic Woes on Washington Before Wall Street

    Americans remain convinced of Washington’s culpability in the economic crisis from which the country is still struggling to recover, according to a pair of new polls. The ongoing “Occupy” protests notwithstanding, Americans are more likely to blame the federal government than the financial sector for the country’s economic woes. According … More

    Obama Economy: Wall Street to Lose 10,000 Securities Jobs

    Just last week, America learned that September was yet another bad month for the Obama economy, with the unemployment rate remaining flat at 9.1 percent. A new report out today predicts more bad news down the road: Wall Street could see 10,000 securities jobs lost by the end of 2012. That’s … More