This morning the Federal Aviation Authority’s head of air traffic control, Mr Hank Krakowski, resigned. He was taking responsibility for the recent incidents in which air traffic controllers were found to have been asleep on the job. The FAA Administrator has clearly decided that if Mr Krakowski did not go then he would likely be…
As expected, the big banks are stepping up their campaign against tighter regulation. This week Mr Dimon, CEO of JP Morgan Chase intensified his foray against the stricter requirements of Basel III, now looming very real. Patriotism is, as always, run up the mast: the capital requirements are “Negative for America.” This notwithstanding the fact…
This is not an April Fool’s joke. Yesterday Dan Tarullo, one of Washington’s leading regulatory thinkers and a member of the Fed’s Board of Governors, gave a speech in which he directly addressed the question whether very large financial institutions are detrimental to financial stability–the great question of the moment for financial reform and financial…
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