→ wanted:有興趣的話,Bloomberg news可以自己上網蒐集整理. 03/24 08:48
Obama to Outline Regulation Changes to Avoid Crisis (Update2)
By Hans Nichols and Alison Vekshin
http://www.bloomberg.com/?b=0&Intro=intro3
March 22 (Bloomberg) -- The Obama administration will this week outline
regulatory changes aimed at avoiding a repeat of the financial crisis that’s
crippled the banking system and pushed the U.S. into the deepest recession
since 1982.
The proposals will address the risks that remain in financial regulation, an
administration official said, including the need for an agency to have the
power to resolve a breakdown at a major financial institution. Federal
Reserve Chairman Ben S. Bernanke two weeks ago called for regulators to be
given the authority to seize such firms, in the way the Federal Deposit
Insurance Corp. already has for deposit-taking institutions.
Officials, who will unveil tomorrow details of a plan to remove distressed
assets from banks’ balance sheets, favor giving the Fed greater
responsibility for managing risk across the financial system. That idea was
proposed last year by former Treasury secretary Henry Paulson, though support
for it is waning in Congress. President Barack Obama may also subject
executive pay to greater scrutiny, the New York Times reported. An
administration official denied that curbing compensation will be a major
focus of the regulatory plan.
“There’s still a need for a systemic-risk regulator,” Representative
Barney Frank, the Massachusetts Democrat who chairs the House Financial
Services Committee, said on March 20. “The argument for the Fed alone has
lost a lot of political support. I think that’s now got to be re-looked at.”
G-20 Meeting
Treasury Secretary Timothy Geithner will testify before Frank’s committee on
March 26 as Obama prepares to travel to London for a summit of the Group of
20 industrial and developing nations.
Obama has said that the international meeting must deal with how to prevent
further crises like the current financial meltdown that began almost two
years ago with the collapse of the market for subprime mortgages.
In dealing with the immediate crisis, the Treasury intends to create a
government body called the Public Investment Corp., funded by as much as $100
billion, to finance the purchase of troubled bank loans and assets, the
Washington Post reported today, citing unidentified people.
The entity would join with the Federal Reserve, FDIC and investors in buying
up the assets, the newspaper said.
Credit Contraction
American banks have suffered more than $800 billion in writedowns and credit
losses since then. The credit contraction that followed dragged first the
U.S., and then Europe and Japan, into recession. A surge in unemployment and
collapse in house prices has added to bad loans and further discouraged banks
from lending.
The crisis also pushed the U.S. government into pouring hundreds of billions
of dollars into financial institutions, including Citigroup Inc., Bank of
America Corp. and American International Group Inc.
Like the White House, Congress is trying to overhaul U.S. financial
regulations and agencies that lawmakers have faulted for lax oversight.
Frank, who is playing a lead role in the redesign, has been pushing to expand
the Fed’s authority.
Legislators are considering setting up a regulator or giving power to an
existing agency to monitor risk and detect problems across an array of
financial-services firms to prevent shocks to the economy such as the one
caused by the collapse of Lehman Brothers Holdings Inc. in September.
Fed’s Role
Senate Banking Committee Chairman Christopher Dodd and Richard Shelby, the
panel’s top Republican, said two days earlier they are reluctant to expand
the Fed’s role, faulting the central bank for lapses leading to the
financial crisis.
Dodd and Shelby endorsed the idea of creating a systemic- risk regulator. “
Whether or not those vast powers will reside at the Fed remains an open
question,” Dodd said at a March 19 hearing on the issue.
The Federal Reserve Bank of New York, headed by Geithner between 2003 and
January this year, has been in the lead in overseeing AIG since the company’
s initial bailout in September. The Fed gave AIG “a massive infusion of cash
” in September “and the many funds since then without any requirements or
conditions,” House Speaker Nancy Pelosi said on March 19.
Congress chastised AIG Chief Executive Officer Edward Liddy over $165 million
in retention pay after the New York-based insurer received $173 billion in
taxpayer funds. Lawmakers advanced legislation that would tax bonuses at AIG
and other companies that are getting federal aid.
The bonus controversy “throws open the question about how you do it,” Frank
said. “It’s something we’re now all thinking about.”
The New York Times, citing unidentified officials, said the new oversight
will apply to all financial institutions, including those not receiving
federal assistance. The oversight also may be applied to publicly traded
companies that report executive pay to the U.S. Securities and Exchange
Commission, the newspaper said.
To contact the reporter on this story: Hans Nichols in Washington at
hnichols2@bloomberg.net; Alison Vekshin in Washington at
avekshin@bloomberg.net
Last Updated: March 22, 2009 17:23 EDT
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美國時間週日晚的重大消息
把不良資產從銀行系統移除
看來是比直接給錢來得好多了
給錢還會被亂搞
ex.AIG....只要是人都很貪心 Integrity只是面試用來騙人用的
台灣的金控大老闆拼命走後門送錢...老美高階管理階層拼命拿錢... 都一樣
XD
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