Posts By David L. Friend

BCFP (nee CFPA) – arguments against

Well, speaking at the American Bankers Association may fall down the list of good ideas for opponents of the Bureau of Consumer Financial Protection – I know you must remember your audience, but when it’s picked up by others, the arguments can fall flat. See a rebuttal at Credit Slips to Sen. Shelby’s argument thatRead… Read more »

NTSB to WMATA – improve safety

The NTSB has sent a letter to WMATA urging WMATA to review its safety system and report back in 30 days. Specifically, WMATA should: “[t]ake action to enhance the safety redundancy of [its] train control system by evaluating track occupancy data on a real-time basis in order to detect losses in track occupancy and automaticallyRead… Read more »

METRO – 06/22/09

Any opinions about a Federal takeover of the DC Metro system. So far, the problems have been delays due to brake issues, or tourists thinking they can keep the doors open by putting out their hands. But recently, its been derailments and crashes – today’s being the first I can recall in 30+ years thatRead… Read more »

Quick Press Survey on Consumer Financial Protection Agency

PRO:,0,7630872.column,0,6203251.story INFO: Click here for a view from across the pond Quotes and such: While banks will lobby to water down the agency’s proposed powers in Congress, the devil will be in the details. One important question is how the agency would be financed. A spokesman for the Treasury toldRead… Read more »

First Reactions to the CFPA White Paper

“[T]he white paper may get beaten black and blue. There is unease on Capitol Hill over an expanded role for the Fed, continued balkanisation and much else. Bank lobby groups support systemic regulation but will waste no time trying to water down the consumer agency and persuade lawmakers that higher capital requirements will curb lendingRead… Read more »

New Regulations this Week!!!

Everyone is interested in the new financial industry regualation that will be proposed and debuted this week. I intend this posting to be a primer on some of the issues which are being discussed during the week. Some of the issues being discussed on the internet include: Regulatory Arbitrage – banks and financial institutions usingRead… Read more »

Even the ‘smartest guys in the room’ are easily fooled…

I enojoyed reading this blog posting – all of the complicated, involved CDS transactions and setups were intended to reduce, or even remove, risk from loss on the underlying asset. Well, the smart guys who thought them up got caught using them on a bet against subprime performing and were schooled by others. Unfortunately, itRead… Read more »