About the author: Sean McMahon | SmartBlogs

Sean McMahon Sean McMahon edits SmartBrief newsletters on global financial markets and consumer banking.

A collection of stories from SmartBrief publications and around the web…

“One last thing before I go…”: This retirement speech by James Kidney, a former trial lawyer at the Securities and Exchange Commission, made waves this week for the shots he takes at the sometimes sheepish leadership at the Commission and revolving door ambitions of some staffers. “The revolving door is a very serious problem.[…] Continue Reading »

A collection of stories from SmartBrief publications and around the web…

Wait … Derivatives are good for the economy?: With all the bad-mouthing out there about derivatives, you might be surprised to learn that the very smart people at the Milken Institute have completed a study that found derivatives are actually a net positive for the economy.[…] Continue Reading »

Wells Fargo recently unveiled a “command center” aimed at monitoring and responding to mentions and trends on various social media platforms. Renee Brown, SVP and Director of Social Media, spearheaded the initiative and recently chatted with SmartBrief to share some of the details. What follows is an edited version of that conversation.

What are the goals of the command center?[…] Continue Reading »

A collection of stories from SmartBrief publications and around the web…

Stumbling Stress Tests: Now that the convoluted results of stress tests conducted by U.S. Federal Reserve are in, all eyes can shift to Europe as the European Central Bank and European Banking Authority prep for their own brand of testing. However, Mayra Rodríguez Valladares from MRV Associates is rather pointed in her skepticism of the Europeans’ methods: “Given banks’ enormous data collection and aggregation challenges and the fact that the stress tests are likely to rely on a risk-weighted asset framework where banks get to pick a lot of the risk drivers for the models, no one should hold their breath about the validity of those stress tests.”

Adding insult to injury: All those Bank of America shareholders who were angered by the actions of Ken Lewis during the firm’s takeover of Merrill Lynch have got to be smoldering yet again.[…] Continue Reading »

A collection of stories from SmartBrief publications and around the web…

OCC says Volcker implementation to cost banks between $412M and $4.3B: That price tag sounds shockingly low. Considering all the fuss Wall Street has raised over the past few years desperately trying to beat back Volcker, that range is downright amazing. The estimate is for the cost spread across only the banks the OCC regulates.[…] Continue Reading »