I'm getting so tired of people who refuse to read financial reform proposals before dismissing them as woefully inadequate. This time it's James Kwak, who writes (quoting a senior administration official during the background briefing on the Volcker...

I think it’s safe to say that Yves Smith and I don’t see eye-to-eye on much. But on Paul Volcker’s latest op-ed, we largely agree: Volcker simlpy doesn’t get it. I have the utmost respect for Volcker, but he seems to be fighting old battles. He...

In general, I'm not a fan of Goldman-bashing. But this, from Michael Lewis, is too funny:That’s perhaps the most curious trait of these ordinary Americans: you don’t need to give them any money to lead them to hope that you might. Take Larry Summers,...

Please don't get sucked into the NY Fed/AIG circus tomorrow. There is nothing there. The people who are hyping this as some sort of outrage(!) are charlatans, and they're hyping this purely for their own benefit. Either that, or they simply have no...

In addition to being a jaw-droppingly superficial idea overall, here’s another reason why breaking up the banks and capping their size would be a titanic mistake. Everyone seems to agree that normal, non-TBTF banks can be resolved without causing a...