Lawrence McDonald

Article By Ben Walsh, Business Insider The Federal Reserve has just released draft rules relating to a number of Dodd-Frank requirements, as well as Basel III, including a capital surcharge for systemically important financial institutions, limits on leverage and credit-exposure and liquidity requirements. The draft rules are meant to apply to U.S. bank holding companies with [...]

From my partner, DCTripwire: Major Actions Last Week 2/21-2/25: White House President Obama met this week with his Council on Jobs and Competitiveness, which is chaired by Jeff Immelt, CEO of General Electric. Also this week, Vice President Biden met with labor leaders as well as attended a DNC reception in New York. Today, President Obama and Vice President Biden met [...]

Content below provided by my partner, DC Tripwire: Bernanke Defends QE2, Says Road to Recovery is ‘A Long One’ Friday morning, Ben Bernanke, Chairman of the Federal Reserve Board of Governors, testified before the Senate Budget Committee concerning the U.S. economic outlook. Ranking Member Jeff Sessions (R-AL) was expected to be among the harshest critics of Chairman Bernanke in the [...]

By Matthew Richardson and Nouriel Roubini | May 6, 2009 From the Financial Times: Joseph Schumpeter famously argued that the essence of capitalism was creative destruction, by which new economic structures are born from the rubble of older ones. The government stress tests on the 19 largest US banks, the results of which are due [...]

By Lawrence G. McDonald It was 1967 when a New Bedford textile corporation in Massachusetts, suddenly upped and purchased National Indemnity, a substantial insurance operation out of Omaha, Nebraska. The textile mill was Berkshire Hathaway, and its owner, Mr. Warren Buffett stumped up $8.6 million, which was a sizeable amount of money in 1967, perhaps [...]