Politics and Government

The Feinberg Report And "The Wisdom Of TARP" - Ken Feinberg appears on stage Friday to announce that 2008 bank bonuses were "ill-advised," but assures us of "the wisdom of TARP." - The Daily Bail

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Dealer-led market may be disrupted by Dodd-Frank - Mark Pengelly - Banks could lose margins and competitive edge as a result of derivatives reforms in Dodd-Frank Act - A drive by regulators to introduce more exchange-like features to the over-the-counter market might be a boon for clearers and exchanges, but is likely to be disruptive for banks. - ... Dealers have an interest in not sending derivatives through to CCPs or trade reporting, because the lack of market transparency works in their favour ... and they are able to get wider margins,” says Michael Jamroz, a former SEC regulator and New York-based partner at Deloitte. ... - Risk.net
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slide show - 11 New Tax Hikes Coming In 2011 - Michael Snyder - Money Game at Business Insider

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Tax hikes for the rich: Can the economy afford them? - By Jeanne Sahadi -- Would making the rich pay higher taxes next year hurt the economy?  - That question underlines one of the trickiest fiscal questions facing Washington policymakers: What to do about the 2001 and 2003 Bush tax cuts, which are set to expire at the end of the year. - CNNMoney.com

Elizabeth Warren Section

If Obama Doesn't Nominate Elizabeth Warren, He's Going To Infuriate His Base - Joe Weisenthal - Here's The Latest On Elizabeth Warren And The Consumer Financial Protection Agency - There's been some chatter that perhaps President Obama might not nominate Elizabeth Warren to head the Consumer Financial Protection Agency (her brainchild, basically), especially since Tim Geithner was said to oppose the nomination.
Well now Tim Geithner seems to support her.  But beyond that, it's obvious that the liberal base adores, and thinks that her nomination is a very, very important political step. - Clusterstock at Business Insider
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Why Obama will nominate Warren - Felix Salmon - Reuters

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Warren’s Candidacy Raises a Partisan Debate - By BINYAMIN APPELBAUM - ... Instead, Ms. Warren’s supporters want President Obama to nominate her as the first head of a new consumer financial protection bureau created by the legislation he signed into law last week. They say that Ms. Warren, who conceived the idea and helped shepherd its passage into law, is the only acceptable choice to finish the project ... - NY Times

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SIGTARP and Warren on the failures of HAMP - by Mike Konczal - ... This is Neil Barofsky ... One continuing source of frustration is that Treasury has rejected calls to announce publicly any goals or performance benchmarks for HAMP or its related initiatives concerning how many homeowners it actually expects to help stay in their homes, despite repeated recommendations that it do so from SIGTARP, the Congressional Oversight Panel and the Government Accountability Office (“GAO”). ... more - Rortybomb