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Analysis and Comment (9)

Janet Yellen will make waves next year. International Monetary Fund

What will happen when the US Fed starts hiking rates?

As the US economy emerges from recession, the prospect of the US Federal Reserve raising interest rates grabs the attention of the financial markets more and more. US rates have been close to zero for…
On the retreat. Hedge fund manager Steve Cohen. Justin Lane/EPA

SAC Capital and the curious economics of insider trading

A US judge has approved a US$1.2 billion settlement and accepted a guilty plea by hedge fund SAC Capital in what has been described as the largest insider trading settlement in the country’s history. Eight…
Fabrice Tourre, a former trader for Goldman Sachs, walks out of the United States Federal Court after being found liable for defrauding investors. AAP

Walking the line on GFC times

Echoes of the Global Financial Crisis resonate while debate continues on the best way of dealing with its consequences, including the actions taken by the Europeans and Americans to counter its effects…
In the wake of the GFC and the Occupy protests, critics have not shied away from voicing their anger at Wall Street. Flickr\Matthew Knott

Making the case for Wall Street

The first thing that strikes you when you re-read the “Declaration” issued in autumn 2011 by the Occupy protesters assembled in Zuccotti Park in downtown Manhattan is how little of it actually relates…
In a blistering speech to the Banking Committee, Senator Elizabeth Warren exposed profound weaknesses in the US' current system of financial regulation. Flickr\mdfriendofhillary

Bankers left reeling as Senator Elizabeth Warren grills financial regulators

It was an artful if devastating performance. In just seven minutes, Senator Elizabeth Warren from Massachusetts signaled the arrival of what appears destined to be a powerful force on Capitol Hill. At…
The proposed Volcker Rule, which will ban proprietary trading by commercial banks, has raised the ire of Wall Street. Bête à Bon-Dieu

Risks or rewards? What the Volcker Rule means for Wall Street

The agenda of the Australian Securities and Investments Commission Annual Summer School in Sydney was dominated by discussions on how to reduce systemic risk. The noted increase in the regulatory perimeter…
Weak labour data sent a signal to investors that US share markets might be overvalued. AAP

Accounting for Wall Street’s week of carnage

Share markets in the US and around the world are expected to fall again this week following sharp declines on Wall Street last week. The Dow Jones industrial average closed on Friday down 2.3% for the…