Friday, March 27, 2009
Thursday, March 26, 2009
Obama administration unveiled sweeping overhaul. First step to decide on a single entity to be responsibile for ensuring systemic stability over major institutions and payments and settlement systems. Federal Reserve cited as the most likely agency for that task. Geithner said advisers to hedge funds and other private pools of capital like private-equity and venture capital funds should register with the SEC.
Monday, March 23, 2009
Have Market changes rendered price tests ineffective? STA Comment Letter: SEC Proposal on Shorts. Sen. Kaufman (Del.) introduced his first legislation which would reinstate “uptick rule” restricting short sales. Sen. also opined on "Naked Shorts."
Saturday, March 21, 2009
Goal is to leverage dwindling resources of bailout program with private investors. Treasury plans to buy as much as $1 trillion in mortgages and related assets. WSJ Pictured: Treasury's Geithner criticized when he outlined a rescue plan with no details. HatTip PE Wire link to details and basic fact sheet of how public-private partnership would work
Friday, March 20, 2009
Critics say Moody's, S&P and Fitch have made few changes to the way they assess debt. Have they taken steps to avoid a repeat of past mistakes in assigning ratings? Still paid for ratings by the companies whose bonds they rate, potential conflict of interest. Anticipated competition for the three has failed to materialize so far. WSJ Op-ed: Secretary of the Fed? Bernanke/Fed all in this week to unlock markets and spur economy.
Thursday, March 12, 2009
Aiming for April to restore uptick rule. Will look at other ways to address short-selling.Uptick rule, adopted after the 1929 stock market crash, allowed short sales only when the last sale price was higher than the previous price and was abolished in 2007. Reuters et al.