It’s rare for politicians to be so transparent about the calculus they’re making. On Monday night, city councilmember Mike O’Brien told The Stranger, “We know the campaign on the other side would raise however many million dollars they need.” … [Read more...] about Facing Pressure From Amazon, Seattle Repeals ‘Head Tax’
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Financial Services Legislative and Regulatory Update – December 16, 2013
FDICFDIC Releases Single Point of Entry Resolution StrategyOn December 10th, the FDIC released a plan for comment on the use of single point of entry (SPOE) for the resolution of systemically important financial institutions (SIFIs) in order to prevent the collapse of large banks. Under the FDIC’s strategy, a failing institution’s holding company would close and its subsidiaries would be spun out and managed as set-aside institutions by a new board of directors and executives. All shareholders would be removed and unsecured creditors would be able to appeal for claims. Announcing the plan, Chairman Martin Gruenberg said that this strategy could be more appropriate then liquidating large firms through the bankruptcy system and that the “FDIC must resolve systemically important financial institutions in a manner that holds their shareholders, creditors and culpable management accountable for their failure while maintaining the stability of the U.S. financial … [Read more...] about Financial Services Legislative and Regulatory Update – December 16, 2013
Highlights From SEC Speaks 2016: Enforcement and Litigation Trends
Chairman's Address Chairman Mary Jo White emphasized the need for the Commission to go "beyond disclosure" in carrying out its mission of protecting investors, maintaining fair, orderly and efficient markets, and facilitating capital formation. Specifically, Chairman White noted that "[d]isclosure is one tool among many" that the SEC has in its arsenal and stressed that the growing complexity of the capital markets, connections between participants and the multitude of risks they face "require more of us." Specifically, Chairman White discussed the need for the Commission to take additional, carefully targeted substantive measures, including controls on technology and limitations on activities, so that the SEC may regulate the means of trading securities. For instance, Chairman White indicated that current SEC proposals would "impose minimum liquidity requirements and limits on derivatives" on asset managers and require updates to regulations of alternative trading systems (i.e., dark … [Read more...] about Highlights From SEC Speaks 2016: Enforcement and Litigation Trends
How hard will McCarthy go against Mueller?
Keep an eye on McCarthy to see if he becomes more enthusiastic about efforts to make trouble for Special Counsel Robert Mueller. Jordan is out in front in a new attack on the Justice Department, demanding answers of Deputy Attorney General Rod Rosenstein about the federal investigation into alleged crimes by the president’s private lawyer Michael Cohen. McCarthy will feel extra pressure now to join the anti-Mueller squad.one from Bloomberg today pointing out inconsistencies in the narrative about Trump’s 2013 trip to Moscow will tend to tighten the tether on McCarthy. But the president’s defenders are not going to let up on the other side, leaving McCarthy stuck in the middle. THE RULEBOOK: FIND YOU A REPUBLIC THAT CAN DO BOTH “The continual necessity for their services enhances the importance of the soldier, and proportionably degrades the condition of the citizen.” – Alexander Hamilton, Federalist No. … [Read more...] about How hard will McCarthy go against Mueller?
