“A lawsuit against the Federal Reserve Bank of New York could complicate the central bank’s effort to control short-term interest rates at a time when investor scrutiny of those markets…
CONTINUE READING“Collectively, we just got screwed again, and I bet most people didn’t even know it. It happens so many times, particularly at the hands of the Federal Reserve, it’s hard…
CONTINUE READING“TEN years on from the financial crisis, the structure of American banking has not changed. At its core are government-guaranteed, and therefore cheap, deposits that banks put to work, primarily…
CONTINUE READING“Can a regulator deny key services to a bank merely because it doesn’t like its novel business model? That’s the question in a lawsuit filed in federal court recently by…
CONTINUE READING“A former Federal Reserve official is suing the Fed for blocking his plan to create a new kind of bank, saying it is putting the interests of big Wall Street…
CONTINUE READING“The basic business of banks is to take deposits and make loans. The deposits have to be “risk-free”: A deposit in a bank account ought to be just “money”; depositors…
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