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Check out Eliot Spitzer´s latest column for Slate.com, published today. In it he briefly outlines a problem with the Federal Reserve Bank of New York: its lack of independence from Wall Street and the absence of representatives of "the public" on its board. The column mostly focuses on the board´s structural problems, but at the end Spitzer rattles off a list of alternative potential board members whose participation could improve the New York Fed´s impartiality.
May 18
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After months of fighting, the Commodity Futures Trading Commission and the Securities Exchange Commission appear to have won a significant victory in their battle for more authority over credit derivatives. The new plan proposed by Treasury Secretary Timothy Geithner to regulate derivatives, including the infamous credit-default swaps, gives oversight power to the CFTC and the SEC and largely ignores the Federal Reserve Board, which had been angling for a slice of power.
May 13 -
