November Senate commentary

From Riski

Contents 1 November 30 2 November 29 3 November 28 4 November 27 5 November 26 6 November 25 7 November 24 8 November 23 9 November 22 10 November 21 11 November 20 12 November 19 13 November 18 14 November 17 15 November 16 16 November 15 17 November 14 18 November 13 19 November 12 20 November 11 21 November 10 22 November 9 23 November 8 24 November 7 25 November 6 26 November 5 27 November 4 28 November 3 29 November 2 30 November 1

November 30

• Eurozone struggles with debt Reuters
• Tough talk in Berlin scares investors Financial Times
• EU Haircut Talk Sparks Credit-Rating Reviews Wall Street Journal
• Banks May Escape Sovereign Debt Test in Next Round of EU Exams Bloomberg
• It’s a much bigger dollar squeeze this time FT Alphaville
• Debt Bubble Chronicles: And Heeeeere’s the European “Lehman Event” ZeroHedge
• BNP Paribas agrees, it’s the Merkel crash FT Alphaville
• FACTBOX-U.S. third in G7 gov't debt-to-GDP ratio ranks Reuters
• The financialisation of commodities VoxEU.org
• Senate Economics References Committee Inquiry into Competition within the Australian Banking Sector Reserve Bank of Australia
• Get Ready For Wednesday's Big Announcement: Fed Set To Release Bailout Documents Business Insider
• Rarely has a profession been in more urgent need of an overhaul than accountancy Ian Fraser
• BofA Mortgage Morass Deepens After Employee Says Notes Not Sent Bloomberg
• Banks Resisting Fannie, Freddie Demands to Buy Back Mortgages Bloomberg
• BABS are a Cali Subsidy ZeroHedge
• US Government Prepares Taxonomy of Finance, a Universal I-D System iMarketNews.com
• Will The Fed Withdraw Its Foreclosure Predator Bailout? Campaign for America's Future
• GAO: Bank Regulators Not Even Looking At Forelcosure Practices Alternet
• Senate panel's focus: Foreclosures resulting from mortgage servicers' advice Washington Post
• Ex-JPMorgan Banker Admits Rigging Muni Bond Deals Bloomberg

November 29

• The Challenge of Prosperity Glenn Stevens, Governor, RBA
• Guest Post: Some Observations on Austerity ZeroHedge
• Group Of Banks By Exposure To Sovereign Risk (% Of TBV), Includes Greek, Irish And Portuguese Sovereign Bonds Asymptotix
• Irish to Pay 5.8% for Bailout, Senior Debt Protected Bloomberg
• The Irish Banking Crisis: A Parable Harvard Business Review
• Basel Said to Seek Liquidity Deal, Weigh Bond Losses Bloomberg
• European CDS Bloodbath Increasingly Threatens Core ZeroHedge
• Hello, Sisyphus FT Alphaville
• Richard Alford: “Quantitative Easing Explained” And Its Critics Naked Capitalism
• Fresh clash looms over new OTC rules Financial News
• Wall Street Shrinks From Credit Default Swaps Before Rules Hit Bloomberg
• SEC Proposes Anti-Fraud and Anti-Manipulation Rule for Security-Based Swaps under Section 763(g) of DFA K&L Gates
• BABs: The Last Pillar Standing Bond Buyer
• Market Split on MSRB's Proposed Dealer-FA Ban Bond Buyer
• Fed's Bullard - funding of consumer bureau a worry Reuters
• Obama Admin Will Spend Just $12B Of $50B Promised To Help Homeowners Avoid Foreclosure, CBO Says Huffington Post
• U.S. body wants identifiers for financial firms Reuters
• Kiyohiko G Nishimura: Electronic trading and financial markets Bank for International Settlements

November 28

• Germany, France Forge EU Debt-Crisis Compromise on Writeoffs Bloomberg
• Cross-border deleveraging and the shifts in Europe’s bargaining game Models and Agents
• Following Hungary And Ireland, France Is Next To Seize Pension Funds ZeroHedge
• Distribution of loan to Ireland FT Alphaville
• Irish bailout 'stuns' experts The Guardian
• Ministers meet to finalise Irish bail-out Financial Times
• The Definitive Unwrapping Of The "Irish Package" ZeroHedge
• Road Map That Opens Up Shadow Banking Asymptotix
• Pluses, Minuses for Muni Bonds Wall Street Journal
• A Proposal for Money Market Fund Reform Economics of Contempt
• Real Homes of Genius – From $5.5 million to $2.7 million in Newport Coast Dr. Housing Bubble
• The Fed and Foreclosures New York Times

November 27

• French G20 agenda to push bigger yuan role Money Control
• European Debt Crisis Cheat Sheet ZeroHedge
• A "Who Is Who" Listing Of The Countries That Will Fund The IMF's Bail Out Of Europe ZeroHedge
• What Ireland proves: The need for a world without bailouts The Globe and Mail
• Eyes On Ireland The Fourteenth Banker
• Eyes on interest rate in crunch Irish rescue talks Reuters
• Ireland bailout protest draws 100,000 to Dublin streets The Guardian
• They Are Not Like Ireland. Really. New York Times
• Iceland Is No Ireland as State Kept Free of Bank Debt Bloomberg
• Synthetic Ownership Arrangements for Ambush Equity Accumulation Harvard Law School Forum
• Don’t Just Tell Us. Show Us That You Can Foreclose. New York Times
• Foreclosure Restarts Limp Out of the Gate Wall Street Journal

November 26

• Woolley Says Financial Industry Is Too Large, `Unstable' Bloomberg
• Michael Hudson: Applying 3000 Years of History to the Modern Debt Crisis new deal 2.0
• Greece → Ireland → Portugal → Spain → Italy → UK → ? Washington's Blog
• Tax havens at the core of the Greek crisis Financial Task Force
• Guidelines for the Regulation of Conflicts of Interest Facing Market Intermediaries IOSCO
• MUFJ's Brown Says Door May Soon Slam Shut on ECB Funds Bloomberg
• Bondholders will sue every sovereign FT Alphaville
• EU rescue costs start to threaten Germany itself The Telegraph
• Allied Irish, Bank of Ireland Bonds Drop Amid Bailout Bloomberg
• Germany Makes Gain on Bailouts New York Times
• Ireland thwacks the insurers FT Alphaville
• Loss Given Default: From Madrid to Los Angeles Foreclosures Set to Crest in 2011-2012 ZeroHedge
• Fannie, Freddie Recommend Foreclosure Sales Resume Wall Street Journal
• The Give and Take of Liar Loans New York Times
• New Consumer Bureau Reaches Out to Wall Street New York Times
• Elizabeth Warren and HR 3808, The Notary Fraud Condonation Act of 2010 Rortybomb

November 25

• Angela Merkel in eurozone permanent bail-out vow BBC
• Analysis: Thinking the unthinkable -- a euro zone breakup Reuters
• Derrick Says Spain May Jump Portugal in Bailout Queue: Video Bloomberg
• European Banks ‘Nearly Bust’ If Euro Collapses, Evolution Says Bloomberg
• Burdensharing then and now FT Alphaville
• Plugging the hole The Economist
• Bank Risk Rises to 5-Month High on Merkel’s Burden-Sharing Plan Bloomberg
• Systemically important financial institutions: the agreed G20 approach Freshfields Bruckhaus Deringer
• Fixing the MBS market, improving QE2 FT Alphaville
• 50 State Attorney General Mortgage Probe Rejects Idea of Global Settlement Naked Capitalism
• The "Fixes" ZeroHedge
• CFTC to hold Public Meeting on December 1st on Sixth Series of Proposed Rules The Swap Report
• SEC switches to undercover tactics Financial Times
• Big 4 Bombshell: “We Didn’t Fail Banks Because They Were Getting A Bailout” re: The Auditors

November 24

• China officially begins trading credit risk mitigation tools Credit Lime
• All The Roads Lead To Default, But Which Will We Take? ZeroHedge
• Banking Systems Most Exposed To PIIGS Nations - 3.2 Trillion USD Asymptotix
• It's Official: There Is Not Enough Money To Bail Out Spain ZeroHedge
• A de facto nationalisation of the Irish banking sector FT Alphaville
• The Beginning of the END Macro Man
• BoE hesitant to admit mistakes, says FSA BobsGuide
• A senior slaughtered (credit) cow FT Alphaville
• Ron in Reserve The American Prospect
• The Question Isn’t Whether the Fed Should Be Stripped of Its Mandate to Maximize Employment... George Washington's Blog
• It's About Time We Politicized the Fed Reason Magazine
• The Fed's communication problem Econobrowser
• FSOC Considers Foreclosure Crisis, Financial Market Utilities CCH Federal Banking Law Reporter
• Mortgage Applications Rise to 6-Month High Reuters
• Foreclosure Probe Talks Include Mortgage Investors Urging Deal Bloomberg
• SEC Economist Vacancies May Aid Legal Challenges of Dodd-Frank Bloomberg
• Banks Seek Exemption From Dodd-Frank for Foreign-Exchange Swaps Bloomberg
• Judge Allows Wiretaps in Galleon Case New York Times
• Insider Trading Inquiry Accelerates New York Times
• New consumer watchdog meets with bankers Financial Times
• Elizabeth Warren Helped Shoot Down Bill That Would Have Sped Foreclosures, Calendar Shows Huffington Post
• The SEC and the end of credit ratings in ABS FT Alphaville
• Will The Fed Bail Out The Muni Bond Market? Jr. Deputy Accountant
• Bankers Rigging Municipal Contract Bids Admit to Cover-Up Lies Bloomberg

November 23

• Rothschild Says 'It's Wrong' to Wish for Euro's Failure: Video Bloomberg
• Ireland refutes the German perspective Financial Times
• Lawmakers attack auditors over bank statements Reuters
• Europe has not yet rescued Ireland Financial Times
• On That Accelerating Irish Bank Run... ZeroHedge
• EU urges feuding Irish not to delay budget Reuters
• Spanish contagion heads for the bonds [updated] FT Alphaville
• IMF’s Lipsky Says Portugal Hasn’t Sought Aid, Facilities Exist Bloomberg
• FOMC minutes FT Alphaville
• Bank Earnings Boosted by Lower Loan Loss Provisions CCH Federal Banking Law Reporter
• Banks to see “systemic reduction” in profits due to increased regulation, report claims BobsGuide
• Fed Adopts Political Tactics on Critics New York Times
• Kucinich Calls QE2 Hearing Wall Street Journal
• Thoughts on QE2 The Economist
• Countrywide's Mortgage Document Errors May Doom Bank of America AOL Finance
• Treasury’s plan to fix the mortgage mess Reuters
• Foreclosure process 'must be fixed,' Treasury official says Washington Post
• What Reforms for the Credit Rating Industry? A European Perspective (SSRN) Credit Risk Chronicles
• SEC Allows Asset-Backed Bond Issuers to Omit Ratings Bloomberg
• Muni Issuers May Face More Defaults in 2011 as Stimulus Fades Bloomberg
• Bernanke hints dollar standard is flawed Financial Times
• With New Power, GOP Takes On Consumer Agency Wall Street Journal
• U.S. Council Begins Weighing Risk of Clearing Firms Bloomberg
• Dodd-Frank Act Substantially Alters the Federal Position Limit Regime for Futures & OTC Derivatives Sidley Austin
• BAB Extension for One Year Likely at 32% or Lower Subsidy Bond Buyer

November 22

• Germany: No New Crisis Mech W/Out Participation Of Creditors iMarketNews.com
• Q+A: How will Ireland's bailout work? Reuters
• Ireland warned it will have to stump up state assets in bailout Tribune News
• €90bn Irish bailout ends in turmoil – now Europe fears crisis will spread The Guardian
• Bernanke hints dollar standard is flawed FT Alphaville
• Criticism Hinders Fed's Easing Plan Wall Street Journal
• Frank Defends Bernanke, ‘Appalled’ By Republican Criticism Bloomberg
• Remarks, Financial Institutions and Regulation Colloquium, Princeton, NJ, Chairman Gary Gensler CFTC
• Fair-Value Fight in Finance Making Volcker Rue FASB Dissonance Bloomberg
• The 'Build America' Debt Bomb Wall Street Journal
• Financial Stability Oversight Council (FSOC) Meeting November 23 US Treasury
• That mysterious missing mortgage note FT Alphaville
• Tom Adams: Failure to Transfer Notes a Serious Issue for Countrywide and Its Trustee Naked Capitalism
• Countrywide Never Sent Mortgages to Trust Seeking Alpha
• For Respecting Contracts and Not Respecting Contracts in the Foreclosure Fraud Crisis Rortybomb
• RealtyTrac Opines On The Coming Wave Of GSE Foreclosure Buybacks: "The Final Liability Will Be Enormous" ZeroHedge
• Mortgage File Missteps Extend Past Securitization, Cantor Says Bloomberg
• Reform Reading: CRS Outlines Tools to Slow Down Dodd-Frank Law The Center for Public Integrity
• Multitudes of lobbyists weigh in on Dodd-Frank Act Washington Post
• Public Comments on Mitigating Conflicts of Interest for DCOs, DCMs and SEFs DerivAlert.org
• What good is Wall Street? The New Yorker
• Hedge Funds Raided in Probe Wall Street Journal
• SEC Enforcement Action Under Regulation FD For Implicit Communications To Selected Analysts Sheppard Mullin

November 21

• Lessons from history in China's inflation crisis The Telegraph
• Republic of Ireland confirms EU financial rescue deal BBC
• Ireland Seeks Bailout as ‘Outsized’ Problem Overwhelms Nation Bloomberg
• US banks face $100bn Basel III shortfall Financial Times
• The Fed Is Saying One Thing But Doing Something Very Different Zerohedge
• Trying to Put a Price on Bank Errors New York Times
• Futures chief presses Republicans on funds Financial Times
• Watchdog agency seen steering clear of investment advisers Investment News

November 20

• Guest Post: Currency Wars And The Fed’s Demise ZeroHedge
• U.S. in Vast Insider Trading Probe Wall Street Journal
• The Financial Panic of 2008 and Financial Regulatory Reform Harvard Law School Forum
• Banks Face Another Mortgage Crisis Wall Street Journal
• "Countrywide Routinely Failed to Send Key Docs to MBS Trustees" Economist's View
• NRSROs, barriers to entry, and the ways we lie to ourselves Self-Evident

November 19

• China Raises Bank Reserve Ratios to Limit Price Risks Bloomberg
• Ireland Crisis Might Give China Break It Seeks: Simon Johnson Bloomberg
• Ratings agencies remain strangely silent on Ireland The Guardian
• Bernanke, Strauss-Kahn & others at bank conferences Reuters
• Fed's actions were needed to boost global economy, Bernanke tells detractors Washington Post
• The Fed Is Saying One Thing But Doing Something Very Different Washington's Blog
• Central Bankers Back Bernanke Whose Critics Haven’t Been There Bloomberg
• Federal Reserve Balance Sheet Federal Reserve Bank of Cleveland
• QE2-as-bank-bailout FT Alphaville
• Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that I do not share” Fire Dog Lake
• What's Really Behind Bernanke's Easing? Wall Street Journal
• Adam Levitin Tells Congress: Citigroup, Bank Of America, JPMorgan & Wells Fargo Are All INSOLVENT The Daily Bail
• Washington Weekly SIFMA
• Morning Clips Committee on Financial Services Republicans
• We Can Fix America If We Focus on What ALL Americans - Liberals AND Conservatives - Want Washington's Blog
• A Junk Bond Party, but Will the Fireworks Fade? New York Times
• Derivatives, `Volcker’ Rules May Be House Republican Targets Bloomberg
• Royce Concerned With `Moral Hazard' Bloomberg
• Senate, House Hearings on Foreclosure Fraud Cast Doubt on Deadbeat Borrower Meme Naked Capitalism
• Mortgage Origination, Assignment, and Securitization Process The Big Picture
• CDS Have Edge on Taxables Bond Buyer
• Some thoughts on the muni market Self-Evident
• Bank analyst Whitney to start credit-rating firm Reuters
• Whitney Announces Plans to Apply for NRSRO Status Bond Buyer
• Meredith Whitney and the Future of Credit Rating Agencies Expected Loss
• U.S. Said to Probe Possible Insider-Trading Networks, WSJ Says Bloomberg

November 18

• Ireland May Ask for Fund to Help Rescue Nation’s Banks Bloomberg
• EU Officials Fly to Dublin as Talk Shifts to Government Bailout Bloomberg
• Bank of Mexico's Sanchez worried about speculation Reuters
• JPMorgan Is Lehman’s Next Deep-Pocket Target After Barclays Bloomberg
• Debt Wall Subsides as Fed Eases Financing Fear: Credit Markets Bloomberg
• Fed Issues Proposed Rule for Conformity with Volcker Rule Ropes & Gray
• A Swap is a Swap is a …What?! Mayer Brown
• Series of Panels in House Financial Services Today on Foreclosure Fraud Fire Dog Lake
• Big banks should sell servicer arms, Democrats say Marketwatch
• Lawmakers hit banks, regulators on foreclosures Reuters
• Mark-to-Make-Believe Perfumes Rotten Bank Loans: Jonathan Weil Bloomberg
• Levitin Addresses Elephant in the Room: Regulators Don’t Want to Fix the Foreclosure Crisis Fire Dog Lake
• The three monkeys of mortgage bonds Reuters
• Prime U.S. Mortgage Foreclosures Increase to Record Bloomberg
• Foreclosure Fraud Class Actions Pile Up Against Banks AP
• Put-Back Losses on Mortgages Estimated at $31 Billion Credit Writedowns
• Treasury Official Outlines Role for Office of Financial Research CCH Federal Securities Law Reporter
• Questions on Muni Ratings Are Raised by Stale Data Wall Street Journal
• Video: McDonnell's Ciccarone Discusses Data on Municipal Bonds Bloomberg
• Dodd-Frank Wall Street Reform: Consumer Financial Protection User Guide Morrison & Foester
• Chicago City Pensions are Broke Points and Figures
• Analyst to rival Moody’s and S&P with own rating agency Financial Times

November 17

• Europe heads back into the storm Financial Times
• Council adopts legal texts establishing the European Systemic Risk Board and three new supervisory authorities Council of EU
• Do Credit Shocks Matter? A Global Perspective IMF
• After the G-20: Time for Realism in Global Financial Regulation Peterson Institute for International Economics
• Macro Perspective: A Level III Crisis Bubble Generation
• Thou shalt not bluff FT Alphaville
• Nixon Says Bailout for Ireland Is `Desperately Needed' Bloomberg
• Halpenny Says Corporate Deposits at Irish Banks Dropping Bloomberg
• The Book of Eurorevelation Macro Man
• Ireland: How much punishment for British and international banks? BBC
• Ireland’s bifurcating bailout FT Alphaville
• Positions in global over-the-counter (OTC) derivatives markets BIS
• Republicans Boehner, McConnell, Kyl And Cantor Send Letter To Bernanke, Blasting QE2 ZeroHedge
• Republican Proposal Takes Aim at Fed’s Dual Role New York Times
• Sen. Shelby: Bernanke defended bond-buying plan Reuters
• Financial Highlights Federal Reserve Bank of Atlanta
• Stanford’s Duffie Proposes Stress-Test Matrix to Monitor Risk Bloomberg
• FDIC’s Bair: "Bury the Losses" ZeroHedge
• Fitch updates criteria for rating CMBS transactions Housing Wire
• BlackRock Lobbies to Avoid Fed Supervision on Systemic Risk Bloomberg
• Iowa Official Says Foreclosure Fund Being Considered Bloomberg
• How subprime mortgages could still sink American banks City Wire
• Final Vote Results for Roll Call 573 - HR3808 Clerk of the House
• Foreclosuregate: The Buck Stops Nowhere Mother Jones
• NACA's Bruce Marks Goes Postal At JPM Crony During Yesterday's Fraudclosure Hearing Zerohedge
• Agency Bond Transparency Derailed by Brokers Avoiding Reports Bloomberg
• Institutional pricing $10 bln Calif. notes delayed Reuters
• Panel Delays Report on Financial Crisis Reuters

November 16

• Ireland crisis could cause EU collapse, warns president The Guardian
• Statement by the Eurogroup on Ireland FT Alphaville
• TIC Update: In September Foreign Central Banks Dumped The Biggest Amount Of US Agencies On Record ZeroHedge
• Under Attack, Fed Officials Defend Buying of Bonds New York Times
• Section 13(3) Lending Facilities to Support Overall Market Liquidity Federal Reserve Office of Inspector General
• Corker, Pence: It’s time to limit the Fed The Hill
• Bob Corker Joins Chorus Seeking End To Fed's Mandate Seeking Maximum Employment ZeroHedge
• IASB board members see U.S. softening on fair value Reuters
• Forum Funnies Reuters
• Don't underestimate foreclosure crisis, watchdog to warn Washington Post
• 'Robo-Signer' Foreclosure Scandal May Threaten Fundamental Financial Stability, Government Watchdog Warns Huffington Post
• The Consequences of Mortgage Irregularities for Financial Stability... in Plain English Minyanville.com
• Bailout Panel Warns of Bank Mortgage Losses, Urges Stress Tests Bloomberg
• 50 state attorneys general probing foreclosures mess close in on settlement with banks Washington Post
• Securitization Sector Set to Defend Practices at Hearing Wall Street Journal
• Examining the Consequences of Mortgage Irregularities for Financial Stability and Foreclosure Mitigation COP
• The Cooperative Model as a Potential Component of Structural Reform Options for Fannie Mae and Freddie Mac GAO
• Liveblog: Senate Banking Committee Hearing on Foreclosure Fraud Fire Dog Lake
• ACTION ALERT – IT’S BACK! H.R. 3808 INTERSTATE RECOGNITION OF NOTARIZATION ACT OF 2010 4closurefraud.org
• Why Credit Raters Keep Their Power Wall Street Journal
• Wall Street quietly seeks to undo new financial rules McClatchy
• Where Are They Now? New York Observer

November 15

• The Status Quo's Fundamental Paradigms Are Broken of two minds.com
• IMF Reveals New SDR Weighting Substantially Remaining Tied to the Status Quo Cafe Americain
• Portugal Fin Min: High Risk Portugal Will Need Intl Help: FT iMarketNews.com
• European Banks' Sovereign Debt Exposures Monetary Law
• An Orderly Markets-Based Approach to Restructuring European Sovereign Debts Roubini Global Economics
• Constancio Says Ireland Could Use Fund for Banks Bloomberg
• On The Alleged Irish Bank Deposit Flight Credit Writedowns
• ECB's Weber backs orderly bank defaults, CoCos Reuters
• Thomson Says Irish Bailout Will Lead to `Domino Effect' Bloomberg
• Greeksville, USA FT Alphaville
• Are Republicans Preparing For A Push To Eliminate The "Maximum Employment" Part Of The Fed's Dual Mandate? Zerohedge
• Asset returns since QE2 hints Reuters
• To Chairman Ben Bernanke Economic Policies for the 21st Century
• Fresh Attack on Fed Move Wall Street Journal
• Banks expect more sympathy from GOP-controlled House McClatchy
• Financial reform law offers look at lobbyists' efforts to shape it LA Times
• The mother-of-all MERS fixes FT Alphaville
• Bondholders Gain Standing to Demand Action on More Mortgages Bloomberg
• Servicing Conflicts and Empirics Rortybomb
• Just When You Thought You Knew Something About Mortgage Securitizations ZeroHedge
• Foreclosure King Defaults on Rent, $15 Million Loan Mother Jones
• New Executive Compensation and Governance Requirements in Financial Reform Legislation K&L Gates
• 2010 Performance and Accountability Report SEC

November 14

• ECB Bini Smaghi: Rescue Mechanism Mustn't Force Debt DefaultiMarketNews.com
• Europe stumbles blindly towards its 1931 moment The Telegraph
• Who's Holding Irelands Unlucky Charms. - Irish Loan Exposure Hedge Analyst
• Banks 'took bailout billions then bought Government bonds' Daily Mail
• Seniority destruction through resolution and covering Deus Ex Macchiato
• Financial regulation: a garden to tame Financial Times
• Lenders face lawmaker wrath over foreclosures Reuters

November 13

• Walkom: The G20 failure at Seoul and what it means for you The Star
• China Assails Monetary Easing, Citing `Imported Inflation,' Bubble Risks Bloomberg
• The International Monetary Fund stands ready to help Ireland if needed Bloomberg
• The CATO Institute Finds That The Fed Must Be Abolished ZeroHedge
• Shiller: Bailouts, Reframed as 'Orderly Resolutions' Economist's View
• Reviewing Asset-Backed Securities – Investors Deserve Better Harvard Law School Forum
• Municipal Bond Market Shudders New York Times
• Shining a Light On Murky 401(k) Fees Wall Street Journal
• Structured Notes: Not as Safe as They Seem Wall Street Journal
• Credit Fears, QE2, Elections Prompt Muni Selloff Wall Street Journal
• The Nine Most "Inconvenient" RoboSigning Admissions BofA Would Love To Disappear Zeroedge

November 12

• G20 endorses Basel III People's Daily Online
• EU to Guarantee Everyone’s Debt. LOL Wall Street Journal
• IMF Shadow Looms as Irish Take Pay Cuts to Avoid Bailout Bloomberg
• South Sea QE The Economist
• Interest on Reserves Yglesias
• Measuring the Success of Bernanke’s QE II "Virtuous Circle"The Market Guardian
• The Fed’s plan for bank dividends FT Alphaville
• Fed's Raskin Is `Gravely Concerned' About Mortgage Servicing Bloomberg
• Problems in the Mortgage Servicing Industry - Governor Sarah Bloom Raskin Federal Reserve
• Tarullo Sets Out Next Steps in Financial Regulatory Reform CCH Federal Banking Law Reporter
• Bernanke's relationship with GOP deteriorating over Fed decisions The Hill
• Taxes May Solve U.S. High-Frequency Trading Mess: Peter Coy Bloomberg
• CFTC Proposes Swap Dealer and Major Swap Participant Rules Davis Polk
• Get Ready for the Great MERS Whitewash Bill CNBC
• Videos: Depositions of Alleged Robo-Signers From Nationwide Title Clearing Credit Writedowns
• Obama taps bank regulator for troubled Fannie, Freddie McClatchy

November 11

• Fed Easing Seen Ineffective by 75% in Global Poll Favoring ECB Bloomberg
• Federated's Tice Says Fed QE Is Likely to `End Badly' Bloomberg
• Ireland says surge in borrowing costs "very serious" Reuters
• Stiglitz urges capital controls to curb hot money Business Day
• New Rules for Hot Money Project Syndicate
• Basel III needs to address liquidity requirements, HSBC chairman claims BobsGuide
• Top Finance Experts To G20: The Basel III Process Is A Disaster Baseline Scenerio
• Insurers, Clearinghouses Said to Be Considered for Basel Rules Bloomberg
• Just What is Bernanke Up To? Credit Writedowns
• Fed Efforts to Revive Economy Find Critics New York Times
• Guest Post: The Giant Cover Up ZeroHedge
• October Foreclosure Rate 2010: Foreclosures DROP Due To Mishandled Paperwork AP
• Move Over Vampire Squid, Enter Rocket Docket - Matt Taibbi Takes Fraudclosure Mainstream ZeroHedge
• Fight Over CUSIP Fees Heats Up Bond Buyer
• Unintended consequence – an unregulated U.S. credit rating industry? Reuters

November 10

• Unity born in financial crisis fractures as leaders pursue own ends Bloomberg
• In the red The Economist
• G20 Proposes Fig Leaf Regulatory Regime for Biggest Banks Naked Capitalism
• Cometh the day, cometh the systemic margin call Deus Ex Macchiato
• "Too big to fail bank" plans may be softened Reuters
• Holtz-Eakin Says QE2 May `Reactivate' Anti-Fed Sentiment Bloomberg
• Anatomy of a QE2 ‘consensus’ FT Alphaville
• Macro-Prudential Nonsense From Bernanke and King Wall Street Journal
• Negotiations With Banks Begin for Troubled Assets New York Times
• Co-Chair's Draft President's Fiscal Commission
• Tragedy of the technocrats Interfluidity
• Prop Trading Goes Underground Institutional Investor
• Interest Rate Swap Liquidity Test ISDA
• Muni-Bond Dealers Fight a Fee Hike Wall Street Journal
• Comments on MSRB Rulemaking Proposed Rule Change - Rule A-13 to Increase Transaction Assessments SEC
• Cravath, Swaine To Advise On Harrisburg Bankruptcy Pro Bono, Will Charge Millions As Muni Default Dam Finally Breaks ZeroHedge
• Attorneys General Foreclosure Probe on `Fast Track,' Miller Says Bloomberg
• BNY Mellon CEO Kelly Says U.S. National Standards Are Needed for Mortgages Bloomberg
• Who owns U.S.'s MBS? Ari Costello
• Breaking the Buck—Reducing Systemic Risks Posed by Money Market Mutual Funds IMF Direct
• Market structure developments in the clearing industry Credit Risk Chronicles

November 9

• Basel III and Financial Stability Bank for International Settlements
• Much More Bank Equity Is Needed and Is Not Socially Costly Stanford Graduate School of Business
• European parliament backs tougher trading regulations Financial Times
• G20 draws up two-tier bank plan Financial Times
• China cracks down on inflows, slams QE Marketwatch
• Crescenzi Says Difficult for China to Curb Money Inflows: Video Bloomberg
• Chinese firm downgrades U.S. credit rating with "negative" outlook Xin Hua Net
• Credit rating agency Fitch sacked by Portuguese Banco Espírito Santo The Guardian
• Fed asset purchases draw more fire Financial Times
• Ben Bernanke's Impossible Dream Wall Street Journal
• Fed-Bashing Three Ways Slate
• Dudley as Avatar of Quantitative Ease Predicts Credit Creation Bloomberg
• FOMC composition and future monetary policy FT Alphaville
• Mutual Funds Seek to Avoid Systemic-Risk Supervision By Fed Bloomberg
• Proposed Regulations Would Expand ERISA Fiduciary Exposure Harvard Law School Forum
• Wosnitzer Says Proprietary Trading Needs More Definition: Video Bloomberg
• In Volcker Rule Debate, All Sides Get Say—But What Will the Regulators Hear? The Center for Public Integrity
• Banking overhaul rush alarms Wall Street Financial Post
• FDIC Proposes to Boost Failure Assessments on Large Banks Bloomberg
• Implementing Dodd-Frank and moving assesments to be based on loans rather than deposits FDIC
• Groups Ask SEC to Reject MSRB Fees Bond Buyer
• Wall Street leaves taxpayers on the hook for municipal swaps Daily Kos
• Goldman, Natixis Settle U.K. Lawsuit Over Credit Default Swaps Bloomberg
• Simple Mortgage Mess Fix Ideal for New Political Realities Huffington Post
• Jim Simons And High Frequency Trading Firms Are Lobbying Washington For Loose Regulations Business Insider
• Exclusive: Presenting The Flash Crashes Of 2010 - Part 1 ZeroHedge
• High-Frequency Traders Lobby, Donate to Head Off U.S. Rules Bloomberg
• Will rate CoCo bonds for food FT Alphaville
• CUSIP ID Requests Foreshadow Surge in Corporate and Municipal Debt Issuance CUSIP

November 8

• China ratchets up pressure after Fed move Reuters
• Ireland is sinking The Economist
• G-20 Conflict Risk Eases as U.S. Says Surplus Goal Unrealistic Bloomberg
• Monopoly money The Economist
• Warsh Sees Risk to Market-Set Prices in Fed Bond Buys Bloomberg
• Fed officials voice concerns about bond buying Reuters
• It’s a QE2 backlash, doncha know – continued FT Alphaville
• John Hussman On Our Fed-Inspired Bubble, Crash, Bubble, Crash, Bubble (etc) Reality ZeroHedge
• Fed Says Banks Eased Lending Standards in Quarterly Survey Bloomberg
• Regulators, Banks Grapple With Volcker Rule's Reach Wall Street Journal
• Market Faces Glut of Supply Bond Buyer
• Ohio GMAC Foreclosure Case May Set Anti-Wall Street Precedent Bloomberg
• Bair: Regulators Need More Data to Break Foreclosure Logjam Bloomberg
• Trading Too Thin to Support OTC Platforms Financial Times
• SEC focuses on "crazy" algos after flash crash Reuters
• SEC Approves New Rules Prohibiting Market Maker Stub Quotes SEC
• President’s Working Group Details Further Reform Options for Money Market Funds K&L Gates
• Ambac Files for Bankruptcy Credit Writedowns
• Morgan Stanley's Gorman Says `Hero' Culture Needs to Change Bloomberg
• Guest Post: "Inside Washington" ZeroHedge
• US risk council should probe foreclosure mess -Dodd Reuters

November 7

• Zoellick seeks gold standard debate Financial Times
• Charting The Fed's Monetization Vs Treasury Issuance Mismatch ZeroHedge
• QE 2: Effects on Banks Balance Sheet Alea
• The Fed Does NOT Print Money (part 2) Alea
• Reviewing Asset-Backed Securities – Increasing Transparency Harvard Law School Forum
• Dodd-Frank Swap Reporting Update McDermott, Will and Emery

November 6

• US won't seek 4 pct trade imbalance target-Geithner Reuters
• G20 showdown likely over US Federal Reserve's quantitative easing The Guardian
• Bernanke Says Fed Must Focus on U.S., Not Overseas Economies Bloomberg
• "Federal Reserve Reflects on its History" Economist's View
• Even Greenspan Admits that Moral Hazard and Fraud are the Main Problems Washington's Blog

November 5

• ‘Hell Week’ Ends With Central Banks Split on Recovery Policies Bloomberg
• U.S. Faces G-20 Opposition Over Fed Stimulus Wall Street Journal
• China, Germany and South Africa criticise US stimulus BBC
• Free money, come and get it The Economist
• Bernanke answers Fed's global critics Reuters
• Empirical Questions About the Anticipation Effects of QE2 Economics One
• ECB Rejects Request for Greek Swap Files, Citing `Acute' Risks Bloomberg
• China Rejects ‘Naked Swimming’ With Default Swaps: China Credit Bloomberg
• Inter-bank market of credit risk mitigation tools for the business guidelines for the pilot NAFMII
• Concentration of OTC Derivatives among Major Dealers (ISDA) Credit Risk Chronicles
• Credit Default Swaps: What's All the Fuss About? Wall Street Journal
• Introduction to the UK Bank Levy Norton Rose
• China and Germany express concern over US Fed move BBC
• Stocks soar after Federal Reserve's move to bolster U.S. economy Washington Post
• US Experts Say Hill To Pass Debt Hike Next Yr After A Battle iMarketNews.com
• The Pushback Against Dodd-Frank Begins New York Times
• The Impact of the Dodd-Frank Act on the Securities Industry: What Broker-Dealers and Investment Advisers Need to Know Gibson Dunn
• Gridlock Could Delay Fannie Reboot Wall Street Journal
• Learning to Love Foreclosures? New York Times
• Banks Brace for Costly Fights Over Mortgage Mess New York Times
• Assistant Secretary Michael S. Barr Remarks at the American Bar Association US Treasury
• Fed Said to Plan Guidelines for Bank Dividends, Stock Buybacks Bloomberg
• Credit Awards Americas 2010: The winners Risk.net
• Securities trading: Circular trading - Hot potato maybe a red herring Euromoney
• Merkley and Levin Instruct Regulators to Follow Congressional Intent on Volcker Rule Senator Merkley
• BofA wins dismissal of big mortgage investors suit Reuters

November 4

• Fiscal Exit: From Strategy to Implementation IMF
• Beyond Bretton Woods 2 The Economist
• Trichet Says Rates ‘Appropriate’ as ECB Gauges Fed, Ireland Bloomberg
• Bernanke Experiments With Crisis Tools to Boost Growing Economy Bloomberg
• Nic Lenoir Interprets The Oracle's Words ZeroHedge
• Federal Reserve Establishes Office of Financial Stability Policy and Research Federal Reserve
• Collateralised contagion FT Alphaville
• Guest Post: The Many Faces Of Deleveraging ZeroHedge
• Time to end the denial over mortgage debt Financial Times
• Justice for Some Project Syndicate
• Swift Trade Reports May Hurt Banks NYTimes DealBook
• Statement Regarding November 2-3 Meeting of OTC Derivatives Regulators’ Forum Federal Reserve Bank of New York
• Treasury Considers Exempting FX from Swaps; CFTC To Consider Treating Foreign Bankers as “Swaps Dealers” Proskauer
• Swaps Clearing Plan May Be Too Expensive, O’Malia Says Bloomberg
• Spencer Bachus — Alabama Lawmaker Takes Aim at Financial Regulation Reforms Center for Public Integrity
• Republicans Must Choose Panel Chief Tough Enough To Stand Up to Barney Center for Public Integrity
• Volcker Rule to Hurt Shareholders, Competitiveness, Bachus Says Bloomberg
• SEC Bans 'Naked Access' Wall Street Journal
• An SEC Insider’s Guide to Reform Harvard Law School Forum
• Market Prices In QE 7 As S&P Says Cost To Resolve GSEs Could Approach $700 Billion ZeroHedge
• U.S. Banks Face $31 Billion Buyback Losses, S&P Says Bloomberg
• BofA Chief `Surprised' by New York Fed Loan Putback Demand Bloomberg
• Let's Set the Record Straight on Bank of America: Open the Books! Huffington Post
• U.S. CMBS, Office Sales Likely to Rise in 2011 Bloomberg
• Foreign Banks Sponsoring ABCP Conduits May Need to Register as Investment Advisers Kaye Scholer

November 3

• Economic outlook and requirements for economic policy OECD
• Re-establishing the resilience of the financial sector: aspects of risk management and supervision BIS
• Task Force on Commodity Futures Markets - Report to the G-20 G-20
• The Cost of America’s Free Lunch Project Syndicate
• Minutes of the Meeting of the Treasury Borrowing Advisory Committee Of SIFMA US Treasury
• Fed to Buy Extra $600 Billion of Treasuries to Boost Growth Bloomberg
• Federal Reserve Rains Money On Corporate America -- But Main Street Left High And Dry Huffington Post
• Bernanke Faces Greater Scrutiny After Republican Election Gains Bloomberg
• The Ultimate Insiders' Take on QE2 and Basel 3--Treasury Encouraged to Issue Debt to Match Fed Purchases Zerohedge
• The Fed's $600 Billion Statement, Translated Into Plain English NPR
• Firms That Fought Dodd-Frank May Profit Under Republican House Bloomberg
• Bernanke Bond Buying May Risk Rise in Prices Similar to 2004 Bloomberg
• Saxo Bank Joins Chorus Of Voices Calling For End Of The Federal Reserve ZeroHedge
• Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won't Recover Washington's Blog
• Bachus’ Rise Could Mean Different Approach to Munis Bond Buyer
• Municipal Bond Market Isn’t Facing Collapse, Wells Fargo Says Bloomberg
• Disclosure Takes Its Sweet Time Bond Buyer
• Clearinghouse Membership Shouldn't Be Restrcted to Dealers, Gensler Says Bloomberg
• Nearly half of securitized-asset investors say data-gathering inadequate Edgar Online
• DOL Expands Definition of Fiduciary and Investment Advice K&L Gates
• Freddie Mac Reports $2.5 Billion Loss, Warns of Weak Housing Market Wall Street Journal
• Election 2010 - A Guide to Changes in Congress K&L Gates
• New Democrat Coalition Loses Big in Midterms ProPublica
• Financial Reform Legislation Still Possible in 112th Congress with Republican House Jim Hamilton's World of Securities Regulation
• Incoming Financial Services Chairman Looks To Weaken Derivatives Reform, But CFTC Chairman Pushes Back Wonk Room

November 2

• Basel III questioned by ECB's Mersch BobsGuide
• When capital controls are the only QE antidote FT Alphaville
• QE2 risks currency wars and the end of dollar hegemony The Telegraph
• Central Banks in Rate Clash Wall Street Journal
• Pimco’s Bill Gross: Dollar Could Fall 20% Wall Street Journal
• Volcker Says Quantitative Easing May Create Inflation in Future Bloomberg
• Welcome To The "QE2 Goldilocks" Matrix ZeroHedge
• Prescription for a sickly economy Washington Post
• Bank regulators 'need to be savvier' BobsGuide
• S&P Estimate Of Dodd-Frank Costs On TBTF: Up To $22 Billion ZeroHedge
• Dimon Beset by Bad WaMu Loans as JPMorgan Makes Overseas Push Bloomberg
• Reform Reading: Whistling to the SEC The Center for Public Integrity
• Chairman Gary Gensler Announces the Appointment of David Meister as Director of Enforcement CFTC
• Regulation: Pressure Mounts Over Derivatives Clearing Financial Times
• Financial Blog Wars The Reformed Broker
• Weapons against U.S. muni fraud difficult to wield Reuters
• XBRL US Announces New President and CEO, Campbell Pryde XBRL.us
• Bond Dealers Expect Republican Shift Would Mean Lower BABs Subsidies Dow Jones
• Banks Go Toe to Toe as Wall Street Woos Hedge Funds Reuters

November 1

• Communiqué Meeting of Finance Ministers and Central Bank Governors, Gyeongju, Republic of Korea G20
• Fed Risks Its Credibility on a Bowlful of Mush: Caroline Baum Bloomberg
• Wall Street to Fed – here’s what we’re expecting on Nov 2-3 FT Alphaville
• Federal Reserve's, Bernanke's credibility on line with new move to boost economy Washington Post
• Statement for theTreasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association US Treasury
• Treasury Announces Marketable Borrowing Estimates US Treasury
• SEC Investigating Deal Between JPMorgan and Hedge Fund Magnetar ProPublica
• MetLife Announces Foreclosure Delay In Judicial States ZeroHedge
• "Where's The Note" Update ZeroHedge
• Lawmaker Questions Power to Foreclose Wall Street Journal
• More on the Mortgage Mess New York Times
• JPMorgan Trims Biggest Mortgage Putback Estimate to $90 Billion Bloomberg
• Guidance Provided on Mortgage and Foreclosure-Related Disclosures Bank Digest
• Bank of America’s Servicing Nightmare Naked Capitalism
• Last Week to Submit Comments on the Volcker Rule Rortybomb
• Rating Agencies Fight (and Lobby) for Survival The Center for Public Integrity
• Staff Observations From Review of Interactive Data Financial Statements SEC