David nasaw recounts the life of joseph p. Kennedy patriarch of the political family that included president john f. Kennedy and senators robert f. Kennedy and edward kennedy. The author examines Joseph Kennedys career in business and politics, which included ventures in wall street, hollywood and the founding chairman of the securities and Exchange Commission. This is a little under an hour. [applause] thank you, all. Delighted to be here. As i tell my history students at the City University of new york in the ph. D. Program thank you. [laughter] as i tell my history students until they want to choke me the past is a foreign country. We can visit, try to learn the customs and the white smith the fragrances, recoil at the foul odors but we are foreigners in a strange land. This is true as much in the recent past as it is of colonial america or 12th century venice. Writing about the recent past is not easy as it is this time around. First there are people you have to talk to. And while
Now on booktv Thomas Stanton argues the main difference between companies that successfully made it through the 2008 financial crisis and those that didnt was the willingness of upper management to listen to feedback before making decisions. This is about an hour and 15 minutes. Good afternoon and welcome to the cato institute. I am the director of Financial Regulation studies at cato. I am also honored to serve as moderator for todays book form. Reading press coverage of the financial crisis one comes across phrases such as banks did this and banks did that. These generalities, there was no response to the financial crisis or events that preceded it. To confirm took different approaches and several ceos and their boards made poor decisions, others made good decisions, prudent decisions and sometimes brilliant decision that not only saved their firms but about and to gain market share come out stronger than ever. In my own riding i tend to place considerable emphasis on the poor Public
We are kicking it off with what everyone is talking about today and it is summed up with one word failed. Failed. Failed. Failing is a part of business and part of life, but when it comes to stress tests at the Federal Reserve instituted on big banks after the financial crisis, failing this go round is a big deal. Citigroup ask the fed to return capital to shareholders, more capital to shareholders, an increase in its dividend, currently a penny or larger buyback. Citigroup was rejected by the fed on a qualitative basis. So there is quantitative, numbersbased analysis of banks finances, and others qualitative, analysis which considers things like internal controls and corporate governance. It was on that basis that citigroup failed and as a result, it cannot increase it evident nor cannot buyback more stock. 29 of the 30 banks did not pass and the one that did was very close. There are these more subjective factors, qualitative factors of how good are the processes . The fed does not w
Finally, a breakfast taco talk about making an offering at the altar of fast food. We are kicking it off with what everyone is talking about today and it is summed up with one word failed. Failed. Failed. Failing is a part of business and part of life, but when it comes to stress tests at the Federal Reserve instituted on big banks after the financial crisis, failing this go round is a big deal. Tocitigroup ask the fed return capital to shareholders, more capital to shareholders, an increase in its dividend, currently a penny or larger buyback. Citigroup was rejected by the fed on a qualitative basis. Quantitative, numbersbased analysis of banks finances, and others qualitative , analysis which considers things like internal controls and corporate governance. It was on that basis that citigroup failed and as a result, it cannot increase it evident nor cannot buyback more stock. 29 of the 30 banks did not pass and the one that did was very close. There are these more subjective factors,
Data shows different loan approval race for different groups of consumers. Some of these result mace be due to discrimination and other mace not be. Its impossible to tell which is which from the statistics aaloan. You should disparty impact it doesnt matter. All statistical differences are considered by themselves discrimination. To be clear, none of us have a tolerance for intentional discrimination. If theres intentional discrimination, we must prosecute it to the fullest extent of the law. The Justice Departments use of disparty impact tries to fight one injustice with another. On a more practical level, disparty impact will make it difficult if not impossible for lenders to make rational economic decisions about risk. Lenders will feel pressure to weaken their current standards to keep their statistics in line with whatever the Justice Department bureaucrats consider nondiscriminatory. We have seen this discriminatory what discriminatory lending can do to our economy. Its reckless