The Sunshine Report

Veritas Financial Partners
Information about finance, the economy and business. Entertaining and informative. Seeking Alpha Certified Mark Sunshine Chairman & CEO

Category Archive: Regulatory Reform

  2. Obstacles To Small Business Lending

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    On Jan­u­ary 13th I attended the FDIC Small Busi­ness Forum titled Over­com­ing Obsta­cles to Small Busi­ness Lend­ing and got an extra­or­di­nary glimpse into why many small busi­nesses are miss­ing the recov­ery.  Even though the forum pan­elists agreed that “what’s good for small busi­ness is good for Amer­ica”, they had few ideas about how to ener­gize […] [read full story]

    Posted in: BANKS, Bernanke, Credit Crisis, economy, Finance, Public Policy, REGULATION, Regulatory Reform, SBA, Small Business Lending

  3. Wall Street’s Fatal Defect — Republished From The Huffington Post

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    The fate of Fred­die Mac and Fan­nie Mae will be cen­ter stage in Jan­u­ary when the Obama admin­is­tra­tion makes its required Con­gres­sional rec­om­men­da­tions about what to do about the two com­pa­nies. The stakes for home­own­ers and the econ­omy couldn’t be higher as the next Con­gres­sional ses­sion will deter­mine if the U.S. has a pri­vate mort­gage mar­ket or if, by con­trol­ling hous­ing finance, gov­ern­ment bureau­crats will be able to direct where Amer­i­cans live and how much they pay for hous­ing. [read full story]

    Posted in: BANKS, Fannie Mae, Finance, Freddie Mac, housing crisis, Mortgage, Public Policy, REGULATION, Regulatory Reform

  4. It’s Not Too Late For Congress To Fix The Derivatives Market

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    The finan­cial reform leg­is­la­tion that passed the House last week doesn’t fix the deriv­a­tives mar­ket but there is still time to make it right. The Sen­ate hasn’t passed its ver­sion of the bill and all Sen­a­tors need to do is include a pro­vi­sion stop­ping the Fed­eral gov­ern­ment from pre­vent­ing enforce­ment of state and local crim­i­nal […] [read full story]

    Posted in: BANKS, Credit Crisis, Credit Default Swaps, economy, Finance, Politics, Public Policy, REGULATION, Regulatory Reform

  5. Federal Reserve Truth in Lending Rules Needs To Go Back To Grammar School

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    I have received a big response to my recent arti­cle about credit card bills and whether or not con­sumers are being over­charged. A lot of frus­trated read­ers have pri­vately e-mailed me with their own very strong over­charg­ing suspicions.

    For­tu­nately, the credit card over­charg­ing prob­lem can be fixed with sim­ple solu­tions that can be imple­mented imme­di­ately. Every day gram­mar school kids learn three basic lessons which if applied to bank credit card billing will instantly solve the prob­lem. The three lessons are…

    Show your work
    No free do overs
    What’s good for the goose is good for the gan­der. [read full story]

    Posted in: BANKS, economy, Federal Reserve, Finance, Politics, Public Policy, REGULATION, Regulatory Reform

  6. Who Owns The Derivatives Market –Industry Concentration Takes On A New Meaning

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    The entire debate about the reg­u­la­tion of deriv­a­tives con­tracts takes on a new mean­ing in light of the OCC’s Quar­terly Report on Bank Trad­ing and Deriv­a­tives Activ­i­ties, Sec­ond Quar­ter 2009. The OCC (Office of the Comp­trol­ler of the Cur­rency) pub­lishes all sorts of inter­est­ing reports and hand­books that are largely over­looked by the media. And, the Deriv­a­tives Report is one of those OCC reports that almost no one seems to look at or care about. [read full story]

    Posted in: BANKS, Credit Crisis, Credit Default Swaps, Economic Statistics, Finance, Politics, Public Policy, REGULATION, Regulatory Reform

  8. Bank Compensation Limits – The Federal Reserve Follows Through

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    Last week’s late break­ing news that the Fed­eral Reserve was fol­low­ing through on its plan to change how it reg­u­lates bank com­pen­sa­tion is being fol­low up by this week’s G-20 meet­ing on how bank com­pen­sa­tion curbs can be inter­na­tion­ally coor­di­nated among the large economies. Sur­pris­ingly, how­ever, the media is act­ing as if reg­u­lat­ing bank com­pen­sa­tion is a new issue. It isn’t new at all but rather a prob­lem that they chose to for­get about for the sum­mer. [read full story]

    Posted in: Bank Compensation, BANKS, Credit Crisis, economy, Federal Reserve, Finance, Politics, Public Policy, REGULATION, Regulatory Reform

  9. Consumer Credit Needs Common Sense Reform

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    Pres­i­dent Obama’s effort to reform the bank­ing sys­tem doesn’t address the system’s biggest prob­lem which is how con­sumer credit is under­writ­ten in the United States. With­out excep­tion, no mate­r­ial con­sumer loan is made in Amer­ica with­out the borrower’s credit bureau first being pulled by prospec­tive lenders and a credit score used to clas­sify the bor­rower as good, bad or mid­dle risk. Credit scores are sup­posed to accu­rately pre­dict the prob­a­bil­ity of default by con­sumers, but in prac­tice credit scores don’t pre­dict much of any­thing. Banks blindly rely upon the junk put out by con­sumer credit rat­ing agen­cies and are get­ting burnt by ignor­ing the most basic rule of under­writ­ing which is to know their cus­tomer. While banks know borrower’s credit scores and infor­ma­tion on the credit bureau that isn’t the same thing as know­ing their cus­tomer or things like their customer’s assets, lia­bil­i­ties and earn­ing power. [read full story]

    Posted in: BANKS, Credit Crisis, economy, Finance, Obama, Politics, Public Policy, REGULATION, Regulatory Reform

  10. Government Accountability Is The Key To Banking Overhaul

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    The prob­lem with the bank­ing reg­u­la­tory sys­tem that needs to be fixed is that reg­u­la­tors aren’t held respon­si­ble when they do a bad job. Obama’s focus on new leg­is­la­tion doesn’t do a lot to pro­mote gov­ern­ment account­abil­ity and takes the spot­light off lead­er­ship prob­lems that exist within the var­i­ous reg­u­la­tory agen­cies. The Obama leg­isla­tive pro­pos­als […] [read full story]

    Posted in: Alan Greenspan, BANKS, economy, Finance, Politics, Public Policy, REGULATION, Regulatory Reform
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