Receiving Wide Coverage ...
Ho hum: World financial markets mostly shrugged off the results of Italy's constitutional referendum, which went down to defeat on Sunday, although the country's banks and its economy remain in serious trouble as a result.
Carson appointment assailed: As expected, President-elect Trump formally nominated retired neurosurgeon Ben Carson as HUD secretary, but critics were quite vocal. Carson "has a brilliant mind and is passionate about strengthening communities," Trump said. "We have talked at length about my urban renewal agenda and our message of economic revival, very much including our inner cities." But Carson's appointment "alarmed" some urban-policy experts, who told the Journal that Carson "lacks any professional experience on issues he will confront, including housing finance, public housing and tax credits."
Wall Street Journal
Regrets: Vice President Joe Biden defended the Obama administration's financial regulatory policies and urged Republicans to reconsider their opposition to Dodd-Frank. "We can't be lulled into a sense of collective amnesia" about what caused the 2008 financial crisis, he said in a speech at Georgetown University. Biden "also acknowledged that some of his own decisions as a senator may have contributed to instability in the financial system," calling his vote as a senator in 1999 to repeal the Glass-Steagall Act as "the
And, oh yeah, Biden, who will be 78 years old at the time, says he may
Changes: Goldman Sachs
New York Times
Coming of age: Wayne State University Law Professor Peter J. Henning, author of the Times' White Collar Watch column, discusses the recent demand by the IRS that Coinbase turn over
"Virtual currency and the fintech industry as a whole have grown outside the traditional regulatory system, but their size and emerging importance mean that more oversight is on the doorstep," he says. "When your client base is large enough for the taxman to go on a fishing expedition to see who is using your services, you have truly come of age. Whether that attention is welcome is another issue."
Elsewhere ...
He's back: Vernon Hill, who brought seven-day-a-week banking and free coin counting to U.S. retail banking, is back in America. The legendary founder and CEO of Commerce Bank in Cherry Hill, N.J., was
Late last week, shortly before his appointment, the website Philly.com asked Hill what he thought about the prospects for bankers like himself under President-elect Trump. Hill responded with two words: "FREEDOM LIVES." Hill, a "sometime golfing buddy" of Trump's, was
Quotable ...
"We can't afford to return to the policies that got us there in the first place." — Vice President Joe Biden,