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Inside Washington (12/19/2011)
  •  WASHINGTON (12/20/11)--President Barack Obama on Friday nominated Dick Berner for director of the Treasury Department's new office of financial research. Berner is currently counselor in the Treasury's office of research and quantitative studies. He was a member of the economic advisory panel of the Federal Reserve Bank of New York, a panel of economic advisers of the Congressional Budget Office, the executive committee of the board of directors of the National Bureau of Economic Research, and the advisory committee of the Bureau of Economic Analysis …
  • WASHINGTON (12/20/11)--The expected adoption of global rules laid out in Basel, Switzerland, would be a defeat for large U.S. banks that contended the guidelines were too strict. The Basel rules require large financial institutions to hold extra capital. Financial institutions argue that the requirements will prompt them to reduce lending and hurt the economy (The Wall Street Journal Dec. 19). The requirements are designed to end the "too big to fail" model that was critical in causing the financial crisis of 2008. The Basel committee has designated eight systemically important U.S. banks that are required to hold extra capital, but they have not indicated how much capital each bank would be required to carry …


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