Dodd Frank Is a Farce on Too Big to Fail

Note: Josh Rosner, managing director of Graham Fisher & Co., submitted this written testimony for a March 30 panel for the House Oversight Committee that was cancelled. His testimony has been entered into the Congressional Record and will be available on the House Oversight Committee website in the near future. The text appears below..

Has Dodd-Frank Ended Too Big to Fail?

An Open Letter to Our Readers

Dear Sir (or Madam), I am writing this letter with all due respects. I have a few items that our Treasury and, subsequently, legislators may have failed to consider: – If the GSEs borrow from either the Fed or from the Treasury lines without a requirement they first eliminate their dividends won’t taxpayers be forced […]

Cuomo Rewards the Rating Agencies:

Please refer to important disclosures at the end of this report. In reviewing the agreement between New York State Attorney General and the NRSROs (credit rating agencies with governmentally outsourced authorities) we are struck by the reality that his agreement does little to advance fundamental changes in rating processes and rewards the rating agencies with […]