Sens. Carl Levin, D-Mich., and Jeff Merkley, D-Ore., proposed an amendment to the financial-reform bill that would prohibit proprietary trading at the largest banks. Opponents of the measure said it would restrict bank operations that didn’t contribute to the financial crisis. They also said the proposal lacks flexibility for regulators to choose the best course of action for individual banks.http://online.wsj.com/article/SB10001424052748704879704575236773178754034.html
Posts Tagged ‘Opponents’
Senate Democrats aim to ban proprietary trading at large banks
May 11th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Aim, Bank Operations, Banks Online, Carl Levin, Financial Crisis, Flexibility, Jeff Merkley, Opponents, Proposal, Proprietary Trading, Regulators, Senate Democrats, Sens, Wsj 
Comments OffU.S. criticizes U.K. proposal to tax financial transactions
November 9th, 2009 Before You Invest Treasury Secretary Timothy Geithner voiced disapproval with a proposal from U.K. Prime Minister Gordon Brown for a tax on financial transactions. Geithner said he would not support the tax but appeared to soften his stance later, saying the International Monetary Fund would be responsible for coming up with possibilities.
Posted in Finance Fraud Tags: Borders, Contingent Capital, Finance Minister, Financial Transaction, Financial Transactions, Gordon Brown, Imf, Insurance Fee, International Monetary Fund, Levy, Mr Brown, Opponents, Possibilities, Prime Minister Gordon Brown, Proposal, Proposals, Systemic Risk, Treasury Secretary, Voiced Disapproval, Volatility No Comments »
