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May 5
Senate Considers Throwing Wall St. Executives in Jail for Reckless Investments
Dodd and Shelby Agree on Plan to Bar Bank Bailouts (Bloomberg Latest)
Key Senators in partial agreement on Wall Street reform (Reuters Latest)
Reid lashes out at Republicans for stalling on financial reform (Politico)
Amendments piling up for Wall St. reform (Hill)
Senate Grills Geithner Over Bank Tax Proposal (FT)
Divided Dems fight over Wall St. reform (Hill)
Swaps desk ban seen fading from bank reform (Reuters)
The Financial Crisis: We Know Enough; Now Let's Do Enough (Bill Black)
Volcker Speech Optimistic on Outlook for Derivatives Reform (CNBC)
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Video: Shelby Says The Volcker Rule Can't Pass -- February 2010
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May 4 part 2
Baucus: Despite Geithner testimony, bank tax is unlikely to happen (Hill)
Dentists fear pain from finance reform bill (Hill)
McConnell doubts Wall St. reform done by next week
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May 4
Lobbyists fret over legislation to reshape financial system (Awesome)
Snip:
As the Senate dives into the details of far-reaching legislation to overhaul financial regulations this week, lobbyists who represent some of the nation's biggest banks are feeling on edge.
They were counting on Senate committee hearings and backroom negotiations among key lawmakers to remove or soften what the financial industry considers most objectionable in the bill. That hasn't happened. And now, as early as Tuesday, the Senate will begin to consider populist amendments that spell even more heartburn for the banks.
"You've got an environment, six months before an election, where politicians are acting like politicians," said Sam Geduldig, a financial lobbyist and former Republican staffer. "They are viewing any vote as a potential campaign ad. And that might not be good for any of us."
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BREAKING: JPMorgan Chase Memo Sneers At 'Ignorant' Senators, 'Time For The Grownups To Step In'
Apple, Whirlpool Among Companies Calling For Relaxed Standards For Derivatives
Hedge funds getting 'free ride' in reform package (Politico)
Larry Summers: “Mistakes Were Made,” But Not By Me (recommended)
“Most Observers” Do Not Agree With Larry Summers On Banking (Baseline Scenario)
Too Big to Fail and the Real World (Dean Baker)
Fake Debate: The Senate Will Not Vote On Big Banks (Simon Johnson)
Obankster Having Jamie Dimon Over For Dinner Tonight To Chat Financial Reform
Financial Reform: Will We Feel Better the Morning After? (By Dean Baker)
The Top 4 Things To Watch In The Senate Floor Debate On Financial Reform (TPM)
Sifting Through The Key Amendments In Financial Reform (FDL)
Wall Street Reform Gets A Push From The Left
UPDATE: Senate Battle To Audit The Federal Reserve (TRACKER)
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May 1
Eight new links this morning. Goldman, Citi, both Morgans might need to raise a cool quarter trillion of new capital. It must suck to finally be feeling some fear, huh Pandit-Dimon-Mack-Blankfein?
Every link is hand picked...they might have similar titles, but the content is distinct. If you want to remain informed, read them all.
Study: Derivatives Rules Would Cost Banks Billions (NYT Dealbook)
Derivatives Reform Could Cost Goldman Sachs 41% Of Earnings
For Wall Street, financial reform legislation takes a bad turn in Senate
Derivatives Measure Has Banks Frightened (WSJ)
Jamie Dimon Sees Big Price Tag for Derivatives Rules (NYT Dealbook)
American Prospect Talks with Sen. Kaufman
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Thursday April 29
Why the Dodd Financial Services Bill Is Bad... For Democrats (By Frank Luntz)
Response From Simon Johnson -- Frank Luntz Is An Idiot (Highly Recommended)
Excerpt:
Frank Luntz is in the midst of making one of the great mistakes of modern American politics. He seems to have completely missed the change in plot line on financial reform over the past few months -- ever since Ted Kaufman waded into the fray, started to bring other key figures with him, and really moved mainstream thinking (as manifest, for example, in the Goldman Sachs hearing this week).
This is about the "arc of the fraud". The financial system committed fraud during the boom (liar loans and misrepresentation to customers of all kinds); fraud during the bailout ("if you ruffle our feathers, we will collapse"); and now fraud during the serious attempts at reform (e.g., the astroturf/fake grassroots nonsense.)
Statement from Sen. Ted Kaufman -- Leverage Limits, Bank Break-Ups
Ted Kaufman -- Recent Clips On Financial Reform (VIDEO)
The Editors: Wall Street Casino (NYT -- Recommended)
Bank Bill Attracts Populist Amendments
Elizabeth Warren: Republicans Choosing Banks Over Families
CAPTURED: Wall Street PAC Money Shifts To GOP
Senate Opens Debate on Wall Street Reform Bill (Bloomberg)
Financial Reform Filibuster: Who Blinked To End It?
Labor Union to Protest on Wall Street
Swiftboating Financial Reform (Op-Ed from Robert Reich)
Orwellian Obstruction: Republicans on Financial Reform
The Consensus on Big Banks Starts To Move (By Simon Johnson)
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Wednesday April 28
Financial Reform: GOP Prepared To Abandon Stalling Tactics
Harry Reid: Republican party's financial filibuster 'anti-American'
Senate Dems plan all-nighter to push GOP on Wall Street reform
Wall Street Reform: Democrats Taking A Third Run At Banking Rules
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Important background reading on reform:
The Myth Of The 'Permanent Bailout Fund'
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News on the Senate's battle with financial reform happens more quickly than I can cover it. I prepare to post a story and then something else breaks. The solution -- a 'rolling links' story that I will update all week (and maybe next) whenever there is a relevant headline. When I post a new link, I will move this post to the top of the site, which is the cue that something has been added inside.
The newest stories will always be at the top.
DailyBail