We’ll give you fresh insights to help you tackle the tough decisions in your professional life. In each episode, I’ll talk to world-class experts and leaders in government, medicine, business and beyond, who can share their firsthand experiences and explain how they make some of their biggest decisions. But how often do we stop to think about how we make decisions? Welcome to Deciding Factors, a podcast from GLG. While some of them are small, others can have a huge impact on our own lives and those around us. Representative Frank also served on the board of Signature Bank when it collapsed. As one of the co-authors of the iconic Dodd-Frank Act of 2010, Frank earned a reputation as one of the most outspoken members of Congress and authorities on financial regulation. He spent four of those years as Chairman of the House Financial Services Committee. Listen along as Congressman Frank discusses the events of the past month, why he believes they did not represent a systemic failure, and why he believes business leaders need not adjust their banking approaches in the future.ĪBOUT BARNEY FRANK Democratic Representative Barney Frank of Massachusetts served in Congress for over 30 years, and retired in 2013. He also happened to serve on the board of Signature Bank when it collapsed, and before taking on this role, he personally advocated for the $250 billion threshold adjustment. As one of the co-authors of Dodd-Frank, Frank earned a reputation as one of the most outspoken members of Congress and authorities on financial regulation. He spent four of those years as Chair of the House Financial Services Committee. In today’s episode, Representative Barney Frank, the chief architect of that regulation, joins us to cast light on the current situation.Ĭongressman Frank served in Congress for over 30 years until 2013. The rollback lessened scrutiny for banks with less than $250 billion in assets, meaning the landmark, post-financial crisis law would only apply to a handful of big banks. federal agencies’ actions and pointed to rollbacks of consumer protections in the Dodd-Frank Act of 2018 as a primary contributor to the banks’ collapse. While Credit Suisse has also since been absorbed by UBS, many lawmakers have criticized U.S. The next domino to fall was crypto-friendly Signature Bank, which shut down on Sunday, March 12. On Friday, March 10, the Federal Deposit Insurance Corporation seized control of Silicon Valley Bank after a run on its deposits left it insolvent. The past month has been a volatile one for the banking sector, and its impact has been felt across the entire global economy.
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