Treasury Hits Back at Critics Of Dodd-Frank Rules - News and Current Events | futures io social day trading
futures io futures trading


Treasury Hits Back at Critics Of Dodd-Frank Rules
Updated: Views / Replies:617 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Treasury Hits Back at Critics Of Dodd-Frank Rules

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

Treasury Hits Back at Critics Of Dodd-Frank Rules

The Treasury is hitting back against critics of Dodd-Frank Act who have complained that the volume of new financial regulations and the delays in writing them are holding back lending and hurting the economy.

A recent report from the Davis-Polk law firm showed regulators have missed the deadline on 78 percent of the 400 rules and regulations required under Dodd-Frank, including 12 percent, or 25 rules, where the deadline has been missed but the rules have not even been proposed.

In response to a CNBC request for comment, a Treasury spokesman said the real uncertainty comes from those seeking to repeal the sweeping financial regulatory reform law.

"Current calls to repeal Wall Street reform are a significant cause of the uncertainty that responsible business leaders are seeking to avoid," the spokesman said. "Once it is fully implemented, Wall Street reform will improve market certainty, strengthen the financial system, help boost the economy, and provide better protections for taxpayers."

The Treasury also cited recent Senate testimony by Deputy Secretary Neal Wolin, who said regulators are trying to balance speed with the need for public comment and time to get it right.

"The Dodd-Frank Act is designed to help protect our economy for generations," the spokesman said. "Many of its reforms involve some of the most complex areas of finance."


In interviews, Davis-Polk analysts cited four key areas where progress has lagged: derivatives/swaps regulation, the Volcker rule , which prohibits proprietary trading by regulated banks, the Basel III international banking accords, and new mortgage capital rules.

For example, regulations for the Volcker rule were supposed to have been adopted in October. Yesterday, the Commodity Futures Trading Commission issued its proposed Volcker rule regulations, the last of the regulators to do so. The law takes effect in July, whether or not the agencies have implemented their final rules. The Treasury said it expects final Volcker rules to be adopted this year.

Further complicating the outlook, most Republican presidential candidates have pledged to repeal Dodd-Frank, citing it as a major impediment to economic growth.


In public comments in December, JPMorgan Chase chief Jamie Dimon said there are parts of Dodd-Frank he agrees with, but he went on to criticize certain areas of the law, especially the Volcker rule. He said it's vital that regulators "get it right."

"We have the deepest, widest, most transparent and best capital markets on the planet," Dimon said. "Let's be really careful about damaging that, okay?"

He said bankers were still waiting to hear from regulators how much "skin in the game" they had to retain in their mortgage business, a reference to Dodd-Frank rules that require banks to keep a certain percentage of their home lending business on the books.

"Three years after the crisis, we don't know what qualified mortgages are. We don't know the GSEs. We don't know what the skin in the game is," Dimon said. "It's holding back the mortgage market. I wish this was done much quicker."

Treasury officials, for their part, say much has been accomplished already. They point to the establishment of new agencies, such as the Consumer Finance Protection Bureau and the Financial Stability Oversight Council.
They also note that the Fed has proposed sweeping new standards for the biggest banks that require them over the next several years to raise their capital levels.

Officials also note that final rules have been adopted for the liquidation of big institutions, so that there will be a process in place if the economy faces another Lehman Brothers-sized failure.


Treasury Hits Back at Critics Of Dodd-Frank Rules - Yahoo! Finance

Reply With Quote

Reply



futures io > > > > Treasury Hits Back at Critics Of Dodd-Frank Rules

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
A Not-So-Happy Birthday for Dodd-Frank kbit News and Current Events 0 July 5th, 2011 11:10 AM
Dodd-Frank Act OTC Gold Prohibited jpygbp Currency Futures 7 June 26th, 2011 10:35 PM
Bernanke: Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial kbit News and Current Events 0 May 12th, 2011 10:44 PM
Frank Caliendo redratsal Jokes 8 May 9th, 2011 11:09 AM
Is the 'Tepper Rally' for Real? Some Big-Name Critics Say No Quick Summary News and Current Events 0 September 28th, 2010 08:20 PM


All times are GMT -4. The time now is 05:54 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.06 seconds with 19 queries on phoenix via your IP 54.145.16.43