Posts Tagged ‘banks’

Banking and finance roundup

Banking and finance roundup

  • Bank of England deputy governor: banks have incurred an estimated $275 billion in legal costs since 2008 and that’s been a drag on economic growth [Katy Burne and Aruna Viswanatha, WSJ]
  • Economist Ken Rogoff proposes doing away with most large-denomination paper money so as to stifle crime, tax evasion and the like, and George Selgin of Cato pushes back;
  • “M&A Lawsuits Plunge As Delaware Judges Make Them Harder To Settle” [Daniel Fisher]
  • CFPB keeps pushing to expand its authority, but on lending rate caps it runs into a direct statutory limit [Thaya Brook Knight]
  • House Financial Services Committee votes to repeal the awful conflict minerals rule [Marcia Narine via Bainbridge and more, earlier] And maybe the rest of Dodd-Frank too? [Mark Calabria]
  • How the Swiss–American Chamber of Commerce sees FATCA, the overseas banking law vexing expats and legitimate business overseas [American Swiss Foundation]

Discrimination law roundup

  • Prof. Sam Estreicher proposes safe-harbor rule to overcome disincentives to hiring of costly or risky job seekers [SSRN via Workplace Prof]
  • “Muslim flight attendant for ExpressJet suspended, wouldn’t serve alcohol” [Detroit Free Press, earlier]
  • Profile of lawyer Joel Liberson, who’s talked many cities into suing banks for big bucks under Fair Housing Act [WSJ]
  • “Did the 7th Circuit finally kill McDonnell-Douglas?” [Jon Hyman on “burden-shifting” evidentiary framework in employment discrimination law]
  • U.S. Commission on Civil Rights believes law should defer to religious conscience claims “only to the extent that they do not unduly burden” bans on discrimination [Stephanie Slade, Reason; report with nonpartisan sections written by Lenore Ostrowsky] Anti-discrimination laws as applied to private actors restrict liberty and sometimes force conscience [David Harsanyi, The Federalist] “Massachusetts: Churches may be covered by transgender discrimination bans, as to ‘secular events'” [Volokh]
  • “Unfair ‘Fair Housing’: The new Obama administration policy to ‘deconcentrate’ poverty is a threat to communities” [Howard Husock, City Journal; Kurtz, NRO]

Banking and finance roundup

September 14 roundup

George Will on settlement slush funds

George Will’s new column is on settlement slush funds, a favorite topic around here. A Wall Street Journal op-ed the other day by Andy Koenig observed that tens of millions of dollars from settlements with big banks by the Obama Department of Justice and New York Attorney General Eric Schneiderman are being directed to liberal political groups allied with Obama and Schneiderman, rather than to customers or taxpayers. Earlier here, here, here, here, here, etc.

Banking and finance roundup

Banking and finance roundup

GOP platform calls for return of Glass-Steagall

Bernie Sanders rants and raves about the supposed need to go back to Glass-Steagall, the law that used to separate investment from commercial banking, and Sen. Elizabeth Warren agrees with him. And now so does… the Republican platform. [Bloomberg, WSJ, The Street (“Republican Finance Platform Designed To Pick Off Sanders Voters from Clinton”)] Do they realize that, according to many economists and financial experts on the left as well as most of the free-market types, the absence of the law had basically nothing to do with the bubble and crash of 2008? That crash arose from other financial misadventures, notably in the mortgage area. More: Iain Murray, Mark Calabria/Cato in 2012.