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Author: Richard Christopher Whalen
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
FSOC Reform or Abolition: The Financial Stability Oversight Council was created by the 2010 Dodd-Frank law to focus a single agency of government on the issue of predicting the sources of financial instability, but it has become an agent for destroying investors value in the financial markets by virtue of its power to designate non-banks as being systemically significant. The existence of the FSOC has arguably not made markets any safer and, along with the other provisions of Dodd-Frank, the FSOC has in fact contributed to a reduction in credit creation and liquidity. The FSOC has led to several large non-bank firms (Metlife & GE) exiting important markets such as home mortgages and consumer credit. There is no practical reason for the FSOC to exist apart from the fact that residents of Washington still seem to believe that they can legislate economic outcomes. This paper argues that, in view of these shortcomings, eliminating the FSOC should be the first priority for the next administration of either party.
Author: Richard Christopher Whalen
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
FSOC Reform or Abolition: The Financial Stability Oversight Council was created by the 2010 Dodd-Frank law to focus a single agency of government on the issue of predicting the sources of financial instability, but it has become an agent for destroying investors value in the financial markets by virtue of its power to designate non-banks as being systemically significant. The existence of the FSOC has arguably not made markets any safer and, along with the other provisions of Dodd-Frank, the FSOC has in fact contributed to a reduction in credit creation and liquidity. The FSOC has led to several large non-bank firms (Metlife & GE) exiting important markets such as home mortgages and consumer credit. There is no practical reason for the FSOC to exist apart from the fact that residents of Washington still seem to believe that they can legislate economic outcomes. This paper argues that, in view of these shortcomings, eliminating the FSOC should be the first priority for the next administration of either party.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Brian Robinson
Publisher: Nova Science Publishers
ISBN: 9781620811481
Category : Finance
Languages : en
Pages : 0
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Book Description
The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Act(DFA) in 2010 as part of a comprehensive reform of banking and securities market regulators. The council is charged with monitoring systemic risk in the financial system and coordinating several federal financial regulators. The FSOC is expected to facilitate communication among existing financial regulators intending to identify sources of financial instability that cross agency regulatory jurisdiction, or that reside in gaps in the financial regulatory framework. This book describes the mission, membership, and scope of the FSOC with its focus on establishing a framework for mitigating systemic risk.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Hilary J. Allen
Publisher:
ISBN:
Category :
Languages : en
Pages : 67
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Book Description
For all the ink that has been spilled on the topic of financial regulation since the financial crisis of 2007-2008, there has been little examination of the competing normative goals of financial regulation. Should the financial system be treated as an end in itself, such that the efficiency of that system is the primary goal? Or should financial regulation instead treat the financial system as a means to the end of broader economic growth? This Article argues for the latter approach, and stakes out the controversial normative position that financial stability, rather than efficiency, should be the paramount focus of financial regulation. Having fixed upon this normative foundation, this Article is in a position to evaluate Dodd-Frank's creation of the Financial Stability Oversight Council (“FSOC”), a body intended to bring the United States' financial regulators together for the purpose of identifying and responding to threats to financial stability. This Article argues that there are significant flaws in the FSOC's structure and mandate that will limit its ability to discharge this vital task. Whilst the FSOC is currently the subject of legislative reform proposals, these proposals seek to hobble the FSOC's powers - this Article argues that reform should instead swing in the other direction. What is needed is an effective and independent regulator with the resources and mandate to take a proactive, long-term and creative approach to the promotion of financial stability. This Article therefore explores potential reforms to the United States financial regulatory architecture - ranging from the incremental to the more drastic - designed to improve commitment to financial stability.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 284
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Book Description
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 158
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Book Description
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: United States. Congress. House. Committee on Oversight and Government Reform
Publisher:
ISBN:
Category : Administrative agencies
Languages : en
Pages : 112
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Book Description
Author: Malloy
Publisher: Wolters Kluwer
ISBN: 154380845X
Category : Labor laws and legislation
Languages : en
Pages : 4424
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Book Description
Employment Law Update, 2019 Edition analyzes recent developments in case law of interest to employment law practitioners representing plaintiffs, defendants, and labor unions and comprehensively covers recent developments in the rapidly changing employment and labor law field. Comprised of ten chapters - each written by an expert in employment law - this updated edition provides timely, incisive analysis of critical issues. Employment Law Update, 2019 Edition provides, where appropriate, checklists, forms, and guidance on strategic considerations for litigation and other forms of dispute resolution. Some of the new material discussed in this 2019 Edition includes: How the U.S. Department of Labor enforces federal whistleblower statutes Recent case law circumscribing arbitration, which can, potentially, deprive non-union workers of fundamental statutory and constitutional rights Recent German embrace of minimum wage law Efforts by legislatures, administrative agencies, courts, and public interest groups to transform the "soft law" of the U.N. Guiding Principles on Business and Human Rights into "hard law" binding multinational corporations Special problems relating to aviation personnel who blow the whistle Protection for disabled veterans under the ADA and the USERRA Evolving framework for enforcing the rights of the LGBT population Transnational labor law applicable to expatriates Application of multinational firms' codes of conduct across national borders Application of differing systems of employee rights and obligations to floating employees Previous Edition: Employment Law Update, 2018 Edition ISBN 9781454898931
