News
CNN Money | Big banks stage mega-cyberattack drill
Beginning at about 9 a.m. ET Thursday, the country's largest financial institutions will endure a large-scale coordinated cyberattack, the likes of which we've never seen.
Bloomberg | ECB Changes Collateral Rules as It Seeks to Boost Lending
The European Central Bank altered its collateral rules for refinancing banks and said it’s looking at ways to boost lending to small- and medium-sized enterprises.
Econ Comments & Analysis
Bloomberg | Bernanke Says Fed May Delay QE Taper If Economy Misses Forecasts
Federal Reserve Chairman Ben S. Bernanke opened the door to a delay in reducing the central bank’s bond buying program, saying it will depend on data that economists say are falling short of the Fed’s own forecasts.
Town Hall | Kevin Brady's Monetary Commission Plans To Throw Ben Bernanke's Fed a Lifeline
On July 10th Federal Reserve Board Chairman Ben Bernanke made a widely noted speech before the National Bureau of Economic Research, in Cambridge, Massachusetts: "A Century of U.S. Central Banking: Goals, Frameworks, Accountability." The immediate takeaway? Rumors of the “tapering” are widely exaggerated.
Blogs
WSJ | How Far Should Fed Go to Pop Potential Bubbles?
Federal Reserve governor Sarah Bloom Raskin, citing the recent housing boom and bust as evidence, said U.S. regulators should use a wide range of tools to combat bubbles and not rely solely on stricter capital requirements.
WSJ | Glass-Steagall Is Necessary, but the Argument for It Isn’t
I’ve made the argument before, so there’s no reason to repeat it at length here. The reality is that reinstating the Glass-Steagall Act has about as much chance of happening as the financial industry walking away from its $300 million a year in lobbying.
Marginal Revolution | The Puzzling Return of Glass-Steagall
I am puzzled by the renewed demand for the return of Glass-Steagall. I am puzzled not because Glass-Steagall might be bad policy but because it is so clearly a policy that doesn’t deal with the problems that created the financial crisis. If one had to sum the crisis up in one sentence it would be hard to do better than “a run on the shadow banking system.” - See more at: http://marginalrevolution.com/marginalrevolution/2013/07/the-puzzling-return-of-glass-steagall.html#sthash.5m1sk1jV.dpuf
