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Financial Services Roundtable
Senior Vice President for Government Affairs at the Financial Services Roundtable, a lobbying organization that represents some of America's biggest banks
PROFILE
Scott Talbott
Guest
FROM Scott Talbott
Which Way, L.A.?
Money and Influence Meet in Republican Politics With Republican convention planners looking over their shoulders in case Hurricane Isaac requires a change in the schedule, the " parallel convention " goes on, with elected officials and Republican celebrities making the party scene for speeches to delegates who can schmooze with lobbyists on the dance floor. Ten corporations, including Microsoft, CITI, Walmart and America's Natural Gas sponsored an event last night.
To the Point
Money and Influence Meet in Republican Politics With Republican convention planners looking over their shoulders in case Hurricane Isaac requires a change in the schedule, the " parallel convention " goes on, with elected officials and Republican celebrities making the party scene for speeches to delegates who can schmooze with lobbyists on the dance floor. Ten corporations, including Microsoft, CITI, Walmart and America's Natural Gas sponsored an event last night.
Which Way, L.A.?
Will Dodd-Frank Protect US from Banks 'Too Big to Fail?' Despite reassurances from the Obama Administration, many financial authorities say banks that are bigger than ever cannot be allowed to fail. Just five banks -- Goldman Sachs, JP Morgan Chase, Citigroup, Wells Fargo and Bank of America -- now hold $8.5 trillion in assets. That's equal to 56 percent of the US economy, up from 43 percent six years ago. It's happened despite President Obama's call to "prevent the further consolidation of our financial system." Are pension funds and other depositors adequately insured? Might taxpayer bailouts be needed all over again?
To the Point
Are America's Banks Still Too Big to Fail? Banks that got taxpayer bailouts paid back with interest, but financial authorities are warning it could happen again. Just five banks -- Goldman Sachs, JP Morgan Chase, Citigroup, Wells Fargo and Bank of America —now hold $8.5 trillion in assets. That's equal to 56 percent of the US economy, up from 43 percent six years ago. It's happened despite President Obama's call to "prevent the further consolidation of our financial system." Regulators are way behind in implementing new rules. Are the life-savings of depositors adequately insured? If a bank with $2 trillion takes too many risks will taxpayers have to be called on? What's the state of public opinion on two unpopular institutions: banks and the federal government? What about Obama's promise that banks would never again be "too big to fail?"
Which Way, L.A.?
Whatever Happened to Finance Reform? It's more than a year since the collapse of Lehman Brothers signaled the start of the Great Recession. The Obama Administration proposed a financial overhaul and the House passed sweeping reforms. But now they're bogged down in the Senate.
To the Point
Whatever Happened to Finance Reform? It's more than a year since the collapse of Lehman Brothers . Among the casualties of the Great Recession are millions of home-owning, credit-card holding consumers exploited by banks regarded as "too big to fail." The use of taxpayer money to protect those same banks from their own bad investments was justified with the promise of tough new regulations. The Congress passed sweeping reform, but now it's bogged down in the Senate. An independent agency to protect consumers may be dead on arrival. Banking interests call it a threat to their business. Reformers say a crisis is being wasted. We hear both sides.
Recommended
To the Point
The Voting is Over, but the Campaign Continues Women had a major impact on the midterm elections. So did $5 billion in campaign spending. Meantime, Democrats now lead the House while Republicans dominate the Senate, and the politics of division continues on Capitol Hill. We’ll hear how former House Speaker Newt Gingrich helped start an era of gridlock and perpetual campaigning.
Left, Right & Center
Why is it always Florida? We have a result in all but one of last week's Senate races and, of course, we're waiting on Florida.