wow – Bank Failures Should Destroy CEOs, Buffett Tells Fox – By Jamie McGee – President Barack Obama’s proposal to regulate banks should include a requirement that chief executive officers and their spouses forfeit their assets when companies fail, billionaire Warren Buffett said on Fox Business Network. “There ought to be a huge downside,” said Buffett … – hattip John Cervarich – Bloomberg
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New Bank Rules Unlikely to Hurt Big Institutions – By STEVENSON JACOBS and DANIEL WAGNER AP – … Obama’s plan to limit banks’ size and risky trading has spooked investors, but analysts say it would have only marginal effect on institutions like JPMorgan Chase, Bank of America and Citigroup — and would be hard to enforce. And it’s not clear the rules would reduce taxpayers’ risk of having to bail out another big bank. … – ABC News Money
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Alistair Darling warns Barack Obama over banking reforms – David Smith and Iain Dey – … Darling’s big worry is that Obama’s bombshell proposals, … will shatter the consensus within the G20 nations on banking reform. “If everyone does their own thing it will achieve absolutely nothing. The banks are global — they are quite capable of organising themselves in such a way that if the regime is difficult in one country they will go to another one, and that doesn’t do anyone any good.” … – Times.co.uk
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Next Fed Chairman? The Case for Robert Shiller – Jacob Wolinsky – Seeking Alpha
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Paul Krugman for Fed Chair: “Crazy” – By James Kwak – Paul Krugman says that Simon’s idea that he should be chair of the Fed is “crazy.” Krugman’s point is either that he wouldn’t be confirmed or that he wouldn’t be able to bring the Open Market Committee along. Maybe he’s right about the former; a Republican filibuster does seem reasonably likely. – The Baseline Scenario
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Bernanke: Flogging the Financial Firefighter – Wade Slome – … to his credit Obama realizes the instability of mass proportion that would occur if the reappointment of Bernanke were to come to fruition. If the head of the globe’s largest financial system is going to be kicked to the curb after saving our economy at the edge of an abyss, then heaven please help us. … – Investing Caffeine
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On Incident Patterns Of Fed MBS Purchases And OpEx Expirations – Submitted by Tyler Durden – … The implication is clear: provide liquidity around the time most needed to “sustain” the market each month. … – Zero Hedge
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Timothy Geithner warns of Ben Bernanke fallout – By MIKE ALLEN – Treasury Secretary Timothy Geithner warned that the financial markets would view a Senate rejection of Ben Bernanke’s renomination as “very troubling” but said he’s sure the embattled Federal Reserve chairman will prevail. – both text and video – Politico