Category: Banking

Mr. Punch and his regulatory slapstick: Part 3, No proprietary purpose

21 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith As we saw yesterday, after then-mayor Bloomberg vetoed the Responsible Banking Act, the City Council overrode his veto by a huge margin (46 to 5), and when they did, the members, such as City Councilor Albert Vann, were understandably triumphant: “The […]

Mr. Punch and his regulatory slapstick: Part 2, An improper measure of oversight

20 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith A combative fellow is Mr. Punch, fearless in the making of political sausages: Sources used in this post Crain’s New York Business (5 August 2015: buff blue font) Crain’s New York Business (10 August 2015) New York Times (August 11, 2015; siena font) Wall Street Journal […]

Mr. Punch and his regulatory slapstick: Part 1, Void in its entirety

19 August, 2015 (10:00) | Banking, Cities, Community Reinvestment Act, de Blasio, Deposits, Federal supremacy, Housing, Lending, New York City, Pre-emption, Punch and Judy show, Regulation, US News | No comments

By: David A. Smith Wherein we begin the show with as much merriment as possible. That’s the Way to Do it!  For Mr. Punch, a slapstick is for smacking people, the more the merrier, so when Mr. Punch is mayor of all the New Yorkers, then he will use the slapstick whenever he can, even […]

The unexpected hanging: Part 2, Too many banks here anyway

24 July, 2015 (10:00) | Austria, Banking, Consumer protection, Currency risk, Eurozone, Global news, Homeownership, Lending, Mortgages, Risk, Swiss franc | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith Yesterday’s Part 1 told half the story of an Austrian homeowner and acquaintance of columnist/ pundit David Frum. as described six months ago in The Atlantic (January 29, 2015), whose astonishment at being assessed a €12,000 mandatory loan prepayment demand, because though paid in Euros and […]

The unexpected hanging: Part 1, Before it was pushed

23 July, 2015 (10:00) | Austria, Banking, Consumer protection, Currency risk, Eurozone, Global news, Homeownership, Lending, Mortgages, Risk, Swiss franc | No comments

By: David A. Smith The man was sentenced on Saturday. “The hanging will take place at noon,” said the judge to the prisoner, “on one of the seven days of next week. But you will not know which day it is until you are so informed on the morning of the day of the hanging.” […]