Last week there were some sketchy news articles on the multi-agency (Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency) report required by the Dodd-Frank Act which highlighted possible financial risks, not covered in Dodd-Frank, which necessitate additional attention.
The Fed wants to limit merchant banking, which is where banks buy an equity position rather than lend money, and bank ownership control of mining, warehousing, and shipping of commodities. The OCC wants to limit Wall Street's investments in industrial metals, such as aluminum and copper.
All recommendations would require legislation and/or rules.
What was missing from the short news articles was a link to the actual Report which I am providing for your better understanding of what was proposed.
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Monday, September 12, 2016
Thursday, June 2, 2016
Financial Weapons of War
While I do extensive daily financial and macro-economic research, occasionally I find something important which is more than interesting. Tom C. W. Lin has written an important paper on the threats and uses of financial warfare in cyber space. We can continue to software and access protect systems from hacks and intrusions as well as war game scenarios, but the means of attack will always be constantly evolving.
The recent attacks on the central bank of Bangladesh resulting in the loss of #101 million and similar attempts on other countries are not isolated incidences and such attempts are not just limited to criminals but include countries and organized terrorists/revolutionaries.
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The recent attacks on the central bank of Bangladesh resulting in the loss of #101 million and similar attempts on other countries are not isolated incidences and such attempts are not just limited to criminals but include countries and organized terrorists/revolutionaries.
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Monday, May 30, 2016
Insurance Companies Profit from the High Cost of U.S. Healthcare
Why are healthcare costs so high in the United States compared to the rest of the modern, technological countries of the world?
The bottom line, historically and currently, is the health insurance companies in the United States are more profitable as healthcare costs increase. While politicians have personal goals and motives, I find it inexcusable that any economist would consider the ACA market approach more politically preferable to a more cost efficient single payer system. The public-private market-based approach of the ACA is an ethical minefield.
The fear that making the ACA a single payer system would invite political repeal of the ACA is nothing but an excuse for the failure to communicate, listen, and demonstrate political leadership over several Congressional elections. The focus on one election cycle only is self-defeating to a government dedicated to the general welfare of its people.
Here are three Blogs which can give you information and views on healthcare in the United States:
True Cost of Healthcare, The Incidental Economist, and Healthcare Economist.
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The bottom line, historically and currently, is the health insurance companies in the United States are more profitable as healthcare costs increase. While politicians have personal goals and motives, I find it inexcusable that any economist would consider the ACA market approach more politically preferable to a more cost efficient single payer system. The public-private market-based approach of the ACA is an ethical minefield.
The fear that making the ACA a single payer system would invite political repeal of the ACA is nothing but an excuse for the failure to communicate, listen, and demonstrate political leadership over several Congressional elections. The focus on one election cycle only is self-defeating to a government dedicated to the general welfare of its people.
Here are three Blogs which can give you information and views on healthcare in the United States:
True Cost of Healthcare, The Incidental Economist, and Healthcare Economist.
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