What # 39; s So Bad About big banks?
A meeting of the National Economic Council last month Gary D Cohn, right, the chief economic adviser to President Trump, told senators that the administration is considering a proposal to separate retail banking from investment banking and trade.
He is the president whose administration is filled with Wall Street insiders.
Yet surprisingly, President Trump and Senator Elizabeth Warren could probably agree on one thing breaking the bank.
It may seem incongruous with other taxes and environmental policies of the president, which benefit the corporations and the rich, but such an approach might appeal to voters scalded by the 2008 financial crisis.
Gary D Cohn, chief economic adviser to President mentioned during a discussion with the Standing Senate Committee on Banking, earlier reported by Bloomberg that the administration was considering a proposal to separate retail banking from the bank and trade investments.
The President spoke of the need for simplification of the banking system on the track of the campaign, he called a 21st century Glass-Steagall, a spokesman for the White House said in a statement Thursday.
The same day, Ms. Warren, a Massachusetts Democrat who sits on the Banking Committee, seized on the comments of M. Cohn to reintroduce a bill she sponsored with just name a reference to new legislation the Deal era.
Of course, the harmony between the two camps doesn t mean that everyone is on board.
Lobbyists for the banking industry rejected the idea that the ineffective policy.
Even regulators say that restoring a version of Glass-Steagall was no panacea Bear Stearns and Lehman Brothers, after all, did not have great retail.
President firing me it seems like a very easy question, Preet Bharara former US attorney in Manhattan, said in his first interview since being fired by Trump administration.
But an answer was apparently not easy for M. Bharara, now a researcher in residence at New York University School of Law.
When a Justice Department official called March 10 to demand his resignation, he thought it might have been a mistake after all, M. Trump was asked in November to stay at his post.
But was nearly 24 hours before the ministry could give the final answer, he was on his way.
M. Bharara described the move as a concrete example of the type of uncertainty incompetence jumble, for personnel decisions and the executive, which was in the minds of people when this off-the-blue call the resignation of the entire world came.
A spokesman for the Department of Justice declined to comment on why M. Bharara was rejected despite an earlier request for him to stay, but the decision has raised questions about whether the president might be tempted to block investigations focused on his friends and associates.
Renaud Laplanche, the French-born entrepreneur who is involved in the Lending Club foundation, was a history of Silicon Valley success par excellence, boasting a new model to borrow money online.
But the story collapsed when the board of the company lifted falsified loan applications and conflicts of interest in its shows, it has been put aside.
Less than a year later, M. Laplanche is trying a comeback with a competitor to his former company in which he is still a major shareholder, with a stake worth about 40 million.
The new company, the upgrade will start offering small loans to Americans who want to refinance credit card debt before trying to move into the home loan and auto It attracted 60 million in the first financing plan venture capital, including Union Square Ventures, which previously backed loan Club.
It won t be easy, but it is a crowded space, and many investors were taken aback by the loan Club problems.
The Department of Labor publishes data on unemployment and hiring in March, which should show that hiring slowed after two strong months early.
Agenda Morning banks Out, break, banks, the president of bank trading.