Tags » William Dudley

Whiskey Costs Money

By James Kwak

A few days ago I wrote a post that began with New York Fed President William Dudley talking tough about banks: “There is evidence of deep-seated cultural and ethical failures at many large financial institutions.” The thrust of that post was that I’m not very encouraged when regulators talk about culture and the “trust issue” but don’t indicate how they are going to actually affect industry behavior. 231 more words

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3/18/14...many...oops, a few happy returns

Quote of the Day from the Friars Club Encyclopedia of Jokes: “Nothing screams “Welcome for one night,” like the inflatable mattress. “Hey, I threw a sheet on a pool raft. 1,753 more words

Economy

You Don't Say

By James Kwak

Last week Peter Eavis of DealBook highlighted a statement made last year by New York Fed President William Dudley (formerly of Goldman Sachs, then a top lieutenant to Tim Geithner): “There is evidence of deep-seated cultural and ethical failures at many large financial institutions.” There was a point, say in 2008, when many people probably thought that our largest banks were just guilty of shoddy risk management, dubious sales practices, and excessive risk-taking. 534 more words

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