View from San Francisco condo
View from San Francisco condo

The Daily Dig for April 28

There is nothing we at Bankless Times like more than to profile the innovative doings of creative business types from around the world.

Sometimes, however, our focus shifts to government regulation – what they are doing, what they are not doing, and what they should be doing.

Government’s relationship with banks and corporations, and their efforts to enact regulations make up most of today’s Daily Dig.

SEC guidance helps take the crowd out of Michigan crowdfunding

The fact that social media accounts reach people outside individual states of origin is a problem for the SEC as it regulates how companies can promote equity offerings.  Using Facebook, Twitter, LinkedIn and the like will probably be taboo, says Brian Edwards.

Errant capital ratio calculation forces B of A to cancel plans to pay shareholders

Bank of America was planning on paying dividends and undertaking a stock buyback, but the Fed put the kibosh on that when it discovered B of A made an “incorrect adjustment” related to previous bad debts, reports Matt Egan.

Heavy hitters protest increased government scrutiny

PIMCO, BlackRock and other global financial heavyweights are protesting plans for government to enact tougher regulations on their activities, saying, among other things, that proposed regulations do not accurately consider the risks involved in some of their undertakings.  Jim Brundsen of Bloomberg breaks it down.

German banks may have to triple their existing payments into proposed new stability fund

Plans for a new European bank restructuring fund could see German banks pay three times what they currently are into a similar fund.  Germany is pushing for a bigger share to fall on the bigger banks with a smaller share or outright exemption for smaller banks with little risk of contagion, according to a Reuters report.

Oxfam report criticizes Aussie big bank dealings in developing world

Australia’s big banks like to think of themselves as solid global corporate citizens, but that desired image is countered by some realities in developing countries, according to international aid organization Oxfam.  Click here for a transcript of ABC’s Chris Uhlmann’s interview with some people involved with the report.

Texas intrastate crowdfunding exemption expected to pass this August

Its Securities Board has issued a ruling on a proposed intrastate crowdfunding law, meaning it is a matter of weeks before Texas joins the list of states with one.  Hall Martin provides an analysis of the ruling.

A healthier housing market would help the economic recovery

There are many reasons why the housing market is not as strong as it should be.  Getting it back to past performance levels would give a much-needed boost to the American economy, writes Neil Irwin.

“Techonomic” growth having disappointing spillover effects

There is no denying the boom that is taking place in Silicon Valley and the surrounding area, but what IS up for debate is how much benefit the rest of the world is seeing, says Annie Lowery.

New Warren book describes deck stacked in favor of Big Corporate

Elizabeth Warren’s past work in consumer advocacy provided a nice groundwork for her political duties, but the entrenchment she encountered was daunting nonetheless, she admits in an interview with Gretchen Morgenson.

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