Washington, D.C. — July 23, 2019 A number of small refineries said they are getting ready to sue EPA over the agency’s inaction on their economic hardship petitions for relief under the Renewable Fuel Standard. Two refineries have identified themselves in letters seen by this reporter but not made public. A third notice of intent came from a law […]
Financial Markets
‘Intelligence’ Doubts on Gulf Attacks Cloud the Real Problem, Says Schiff
UPDATED (6/25/2019): This story is updated with comments from ret. Cmdr. Kirk Lippold. [Photo credit: Shutterstock, Inc.] June 21, 2019, Washington, D.C. — The Chairman of the House Intelligence Committee, Adam Schiff, D-Calif., dismissed any doubt that last week’s attacks on two oil tankers in the Gulf of Oman were the work of Iran, and said despite demands for more […]
News Photo of the Moment: Protests Against Extradition Bill Overwhelm Hong Kong Streets
ABOVE: Protesters flooded the streets of Admiralty, where Hong Kong’s legislative council sits, to protest an extradition bill that they say will spell the end to the city’s status as a semi-autonomous region. Hong Kong’s lawmaking body, the legislative council or Legco for short, is considering a bill that many in Hong Kong believe will be a fatal blow to […]
U.S. Announces 2nd Round of Financial Aid for Farmers Hit by Trade War
The U.S. Department of Agriculture today announced it would plow $16 billion into financial assistance for farmers to help make up for financial losses from President Donald Trump’s trade tit-for-tat with China. “After China decided to renege on commitments they already made, [Trump] directed me immediately to implement a program,” U.S. Agriculture Secretary Sonny Perdue said Thursday in a […]
SEC Nominee Would Ease Way Into Capital Markets for Mid-sized Firms
UPDATE 4/5/2017: The nomination of Jay Clayton as Chairman of the Securities and Exchange Commission was approved by the Senate Committee on Banking and Urban Affairs on Tuesday, April 4. The full Senate is expected to vote on the confirmation later in the month. Jay Clayton, President Donald Trump’s nominee to chair the Securities and Exchange […]
Financial Regulatory Rollback to Be More Slow and Steady, Less Shock and Awe
Rescission of PE Registration Requirement Won’t Happen Anytime Soon President Donald Trump campaigned on a promise to roll back financial regulatory reform, but Republican lawmakers warn not to expect significant changes — if any — to the massive financial regulatory package known as Dodd-Frank before year-end, as the GOP-led Congress sorts out the priorities of its ambitious legislative agenda. […]
The horse he rode in on
Below is a letter I sent to The Wall Street Journal editor in chief, Gerard Baker, on Nov. 14, in response to his message about the new format of the newspaper, a kind of Journal Lite, or so he seems to be saying. I’m posting it here just in case he doesn’t read the copy sent to the paper’s […]
A Wagonload of ‘I Don’t Knows’ Stumpfs Congressional Panel
John Stumpf showed the world today how the CEO of a very large bank can be totally out of touch with the organization he oversees. Or, maybe he just showed us how hard it is to say “I’m sorry” without incriminating yourself. Either way, he made heavy use of the phrase, “I don’t know.” One member of the […]
Ex NYSE Chief: Regulation NMS was a sad, sad experiment
In this weekend’s look back at the news, Dick Grasso, who presided over the New York Stock Exchange between 1995 and 2003, told hosts of Wall Street Week that the SEC’s 2005 adoption of Regulation NMS was a “sad, sad experiment.” The interview, which was taped Friday, as first reported by The Wall Street Journal, covered a lot of ground, […]