Mark Calabria

Posted November 17, 2014

What does favor Republicans is that about half of the almost 400 regulations required under Dodd-Frank have yet to be written.

Posted November 09, 2014

In my nearly twenty years following financial services, we have not had two chairmen more skeptical of government oversight of our financial markets.

Posted October 12, 2014

Earlier this week the New York Times ran a story claiming that insiders at the New York Federal Reserve had actually concluded that the Fed did have the authority to rescue Lehman. The implication of the story seems to be that not doing so was a tragic mistake.

Posted October 06, 2014

In his latest book, Rethinking Housing Bubbles, Nobel Prize winner Vernon Smith, the father of experimental economics, offers a number of lessons that could greatly improve the stability of our financial system.

Posted September 14, 2014

The well-being of a banking sector depends on the ability of political institutions to limit rent-seeking by populist groups.

Posted September 05, 2014

In the Dodd-Frank Act, Congress, without irony, decided the best way to end too big to fail was to have a committee of regulators label certain companies too big to fail.

Posted August 12, 2014

I’m a little behind on my comedy watching, as I get a regular dose just living in Washington DC, but last week comedians John Oliver and Sarah Silverman focused an entire segment on payday lending...

Posted June 16, 2014

A central flaw in Los Angeles’ logic is that the inflection point in prices came before that in delinquencies.

Posted May 12, 2014

Compared to most asset classes, CLOs performed well during the financial crisis, even if new issuance fell for a short time following the crisis.

Posted April 28, 2014

The current reform plan that has garnered bipartisan support, the one proposed by Senators Tim Johnson and Mike Crapo, would wind down Fannie and Freddie and replace them with new entities. In doing so it would also largely codify the Treasury’s zeroing out of Fannie and Freddie’s private shareholders.

Posted December 08, 2013

Low rates are often defended as “putting money in the consumers’ pocket” but that couldn’t be further from the truth. It simply transfers money from one set of consumers to another.

Posted November 25, 2013

The Banking Committee approved Yellen 14 to 8, with only one Democrat, Sen. Joe Manchin (D-W.Va.), voting against her and she is likely to be voted on by the full Senate by the middle of December.

Posted October 28, 2013

Natural disasters illustrate the industry’s ability to manage and absorb large losses. The losses from hurricanes Katrina and Andrew, and the Northridge earthquake, were all comparable to the losses from 9/11, so there is nothing particularly special about the level of terror damage.

Posted October 21, 2013

We have regularly seen tribes attacked whenever they dared engage in commercial activity — such as selling cigarettes or operating casinos — that does not conform to the prudish tastes of upper-class America.

Posted October 13, 2013

While Yellen is likely to receive a frosty reception from Republicans, she has a very good chance of garnering the necessary 60 votes needed to achieve Senate confirmation.

Posted September 30, 2013

If you think bubbles are a great avenue for wealth creation, then Yellen is the Fed chair for you. If you, however, suspect bubbles are damaging to our economy, then you might rightly be concerned that she repeats her San Francisco performance on a national level.

Posted September 24, 2013

Sadly, most of what's past for financial reform has been useless or outright harmful. The hours put into financial reform should not be our measure of success, but rather the effectiveness of those reforms and their actual relationship to the causes of the financial crisis.

Posted September 09, 2013

We see what starts to look like a pattern here: downgrade the United States and expect some abuse.

Posted August 11, 2013

The president wants “no more leaving taxpayers on the hook for irresponsibility or bad decisions,” but then he implies that government should continue to stand behind risk in the housing market.

Posted August 04, 2013

Since 2010, the number of minimum wage workers has declined by over 800,000. Given the increase in minimum wage in 2009 and the relatively weak labor market, I think it’s a safe bet that most of these workers left the labor force rather than received a big raise.

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