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Category Archives: Economy

Report – Elite Russian hackers breached Nasdq and inserted a digital bomb

BloombergBusinessWeek – Mike Riley: “In October 2010, a Federal Bureau of Investigation system monitoring U.S. Internet traffic picked up an alert. The signal was coming from Nasdaq. It looked like malware had snuck into the company’s central servers. There were indications that the intruder was not a kid somewhere, but the intelligence agency of another country.Continue Reading

Federal Reserve Board Beige Book – July 16, 2014

“Summary of Commentary on Current Economic Conditions by Federal Reserve District - Prepared at the Federal Reserve Bank of Kansas City and based on information collected before July 7, 2014. This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials. AllContinue Reading

Privacy Protection for Customer Financial Information – CRS

Privacy Protection for Customer Financial Information - M. Maureen Murphy, Legislative Attorney. July 14, 2014 “One of the functions transferred to the Consumer Financial Protection Bureau (CFPB) under P.L. 111-203, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), is authority to issue regulations and take enforcement actions under the two major federal statutes that specify conditions under which customerContinue Reading

Bipartisan Policy Center Recommends Improvements to Key Features of the Dodd-Frank Act

“The Bipartisan Policy Center’s (BPC) Financial Regulatory Reform Initiative today released three top ten lists highlighting key areas of progress made since the passage of the Dodd-Frank Act four years ago, along with 20 proposed action items for regulators and Congress to address the significant challenges that remain. These include: Top Ten Areas Where Dodd-Frank Made Progress Top TenContinue Reading

Impact of Final Basel III Capital Ratios on U.S. Banking Organizations

Simpler and Less Volatile Capital Calculations — Will Impact Capital Planning, M&A and Investment Strategy. Thomas W. Killian, Principal – Sandler ONeill “After receiving more than 2,500 comment letters from U.S. banks and other interested parties, raising over  400 different concerns, the Office of the Comptroller of the Currency (OCC), the Board of Governors of theContinue Reading

Nearly 1 Million Community College Students Denied Access to Federal Student Loans

“With Americans increasingly having to borrow to pay for college, a new report from the Institute for College Access & Success (TICAS) finds that nearly one million community college students cannot get federal student loans because their school chooses not to offer them. Without access to federal student loans, students may not be able toContinue Reading

The 2014 Long-Term Budget Outlook

“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing its debt to soar. The total amount of federal debt held by the public is now equivalent to about 74 percent of the economy’s annual output, or gross domestic product (GDP)—a higher percentageContinue Reading

Foreign Exchange Benchmarks – consultation paper

“In February 2014, reflecting a number of concerns raised about the integrity of foreign exchange (FX) benchmarks, the Financial Stability Board decided to incorporate an assessment of FX benchmarks into its ongoing programme of financial benchmark analysis. The Foreign Exchange Benchmarks Group was established to undertake a review of FX benchmarks and analyse market practices inContinue Reading

SEC Clamps Down On XBRL Filing Holdouts – InformationWeek

“The Securities and Exchange Commission is clamping down on public companies that fail to submit their financial disclosure statements as structured data, agency officials said. The SEC’s Division of Corporation Finance sent letters on July 7 to an unspecified number of companies that are not submitting their financial disclosure statements as machine-readable, structured data. The move comesContinue Reading

New York Fed Survey of Consumer Expectations – July 2014

“The New York Fed’s Survey of Consumer Expectations (SCE) provides timely and comprehensive information about consumer expectations through three broad categories: inflation, labor market and household finance. The SCE contains monthly insight about how consumers expect overall inflation and prices for food, gas, housing, education and medical care to change over time. It also provides Americans’ viewsContinue Reading

Brookings – A Cascade of Failures: Why Government Fails, and How to Stop It

“In this research paper, Paul C. Light writes that the “first step in preventing future failures is to find a reasonable set of past failures that might yield lessons for repair.” To meet this goal, Light asks four key questions about past federal government failures: (1) where did government fail, (2) why did government fail,Continue Reading

Apprenticeships are Good for Business

By Sarah Ayers and Ben Schwartz | July 14, 2014: “Employers are increasingly worried about finding and holding on to quality, skilled workers and economists warn of a widening skills gap. What are employers to do? Apprenticeship—that age-old worker-training model that pairs on-the-job training with classroom instruction—just may be the solution to employers’ woes. According to the GeorgetownContinue Reading