Wall St. Faces Mounting Criticism From Regulators

The New York Times - William D. Cohan

The Better Banking Law take: Cohan accurately outlines ethical issues and cultural flaws that Wall Street must address. In particular, we applaud Mark Carney's critical perspective, as he said:

“Virtue cannot be regulated ... Even the strongest supervision cannot guarantee good conduct. Essential will be the rediscovery of core values, and ultimately this is a question of personal responsibility. More than mastering options pricing, company valuation, or accounting, living the right values will be the most important challenge” for Wall Street.
 

Fed Imposes New Limits on Big Banks to Reduce Bailout Risks

The Wall Street Journal - Ryan Tracy

The Better Banking Law take: We welcome the Fed's recently proposed "total loss-absorbing capacity" principles, which are similar to those the European Central Bank has put forth to avoid taxpayer bailouts.