Jack Lew —NOT the Proverbial Banking Insider

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Jacob (Jack) Lew, the likely nominee for the President’s Secretary of the Treasury, is well-positioned to deal with the three most immediate fiscal crises facing the nation: the debt ceiling, the deficit, and the fiscal cliff. Is he the proverbial banking  insider? Unlike his immediate predecessor, Lew doesn't come from a big bank or investment firm, but rather from positions as Chief of Staff to the President and past director of the … [Read more...]

Will “too big to manage” banks be broken up?

The announcement of JPMorgan’s trading loss of more than $2 billion has renewed a call for more stringent oversight of Wall Street banks.     It inspired arguments that some global banks are “too big to manage.”   Besides the U.S. regulators struggling to oversee how big banks operate, JPMorgan’s executive team also seemed to face similar challenges.    Was it really a well-intended risk management or hedging that went … [Read more...]