A war of words ends with the Democrats in charge of a key regulator
A boardroom bust-up at the FDIC reveals President Biden’s distaste for big banks
“POWER GRAB”. An “attempt to politicise our regulators for their own gain”. “Extremist destruction of institutional norms.” The rhetoric flying around Washington sounds like the criticism once levelled against President Donald Trump about hot-button issues from border security to pollution controls. Instead, it is Republicans who have directed these barbs at Democrats in recent days, focused on something that, on the surface, seems far duller: the Federal Deposit Insurance Corporation, the agency tasked with protecting savers from bank busts.
This article appeared in the Finance & economics section of the print edition under the headline “Regulatory flex”
Finance & economics January 8th 2022
- How long can the global housing boom last?
- The EU’s green-investing “taxonomy” could go global
- A war of words ends with the Democrats in charge of a key regulator
- Economists are agreeing with each other more
- Could China’s north-east be home to its next banking disaster?
- The rise of personalised stock indices
- Why gold has lost some of its investment allure
- The IMF bashes the IMF over Argentina
From the January 8th 2022 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer