News, Updates & Insights
“50BPS Rate Cut, Powell and Inflation” on Schwab Network
I joined Oliver Renick on Schwab Network to discuss the Fed’s decision to cut rates by 50BPS.
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“The CFPB is funded by the Fed’s profits. Trouble is, there are none” by Alex Pollock
My good friend, Alex Pollock, Senior Fellow at the Mises Institute, has published a very important article in the American Banker on what he considers the illegal funding of the Consumer Financial Protection Bureau by the Federal Reserve System.
It’s time for the US to withdraw from the Basel capital accords
The Federal Reserve continues to struggle with adoption of Basel III. I firmly believe it is a futile and useless exercise, which should be abandoned, as I state in my most recent article in the American Banker, summarized here. I declined to adopt Basel I when I was Chairman of the FDIC and believe it…
Continue Reading It’s time for the US to withdraw from the Basel capital accords
“How Can One Understand the Federal Reserve’s Nearly $200 Billion in Losses?” by Alex Pollock
Alex Pollock’s important article in the New York Sun on the Federal Reserve’s staggering losses.
5 ways to improve the stability of the financial system
In our latest article in The Hill, my good friend Thomas Vartanian and I outline five key challenges standing in the way of financial stability in the US banking system.
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Uninsured deposits, not brokered deposits, led to 2023 bank failures
My latest article in American Banker explains how it was uninsured deposits, not brokered deposits, that led to 2023’s bank failures.
Continue Reading Uninsured deposits, not brokered deposits, led to 2023 bank failures
“The next president must restore our faith in America” by Jamie Dinon
I couldn’t agree more with Jamie Dinon’s Washington Post opinion, titled “The next president must restore our faith in America,” calling for much needed leadership in the US that will unite us in these very difficult, divisive, and perilous times.
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“The Federal Reserve Lacks the ‘Earnings’ With Which Legally To Fund the Consumer Financial Protection Bureau” by Alex Pollock
Alex Pollock published an important column in the NY Sun: “The central bank is in circumstances that the authors of Dodd-Frank failed to anticipate — it’s been operating at a loss.”
Isaac Proposes Overhaul of U.S. Bank Regulation & Deposit Insurance
William Isaac has released a new white paper on much-needed reforms for U.S. bank regulation and deposit insurance. The paper, “It’s Broken, So Let’s Fix It” uses Mr. Isaac’s decades of experience in banking and regulation to make recommendations on accounting rules, regulatory oversight, deposit insurance reform, and better and more effective US-centric capital rules.
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AEI: “The Forgotten Solution to the Housing Crunch”
Ed Pinto at the American Enterprise Institute discussed the American housing market in a new podcast interview, and the AEI released a compelling 9-minute video on the topic.
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It’s Broken So Let’s Fix It: Former FDIC Chair Isaac’s Recipes For Success – IBKR Podcast
I sat down with Interactive Brokers Podcast Host and Senior Economist Jose Torres to discuss how today’s regulatory failures mirror past crises and what we need to fix our financial system.
“A value-added tax is one solution to the crippling debt problem” by Peter Tanous
My good friend, Peter Tanous, has written a thoughtful article for CNBC on the necessity of the U.S. joining most of the rest of the world in adopting a Value Added Tax as a critically important step toward significantly reducing our dangerously out of control debt problems. I believe firmly that we must also reduce senseless Federal spending but, realistically, that alone will not do the job. We will also need a reasonable and fair way to increase Federal revenues. It’s time for the VAT tax coupled with a substantial reduction in wasteful Federal spending.
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Former FDIC chair: Workplace culture at the FDIC can and must be fixed.
My latest article in The Hill emphasizes the importance of identifying leaders at the FDIC who can attract and retain talent by treating employees with respect and dignity. The FDIC is an important institution with a noble goal, and misbehavior must not be tolerated.
Continue Reading Former FDIC chair: Workplace culture at the FDIC can and must be fixed.
Back to the Future?
The Federal Reserve and Congress have created and dumped into the economy massive amounts of debt at close to zero interest rates, allowing us to ignore the problems while they have mushroomed beyond control.
Why does one unelected bureaucrat get to decide credit card fees?
My latest article in The Hill, co-written with my friend Tom Vartanian, challenges the amount of power that the Director of the CFPB, an unelected official, can wield. Having a politicized official at the helm of this agency will do the American consumer more harm than good.
Continue Reading Why does one unelected bureaucrat get to decide credit card fees?
National Debt, Inflation and the Federal Reserve
This article was written in response to a thoughtful and important opinion piece authored by my good friend, Alex Pollock, about the need for Congressional oversight of the Federal Reserve, something recently advocated by Rep. French Hill in the House and Sen. Rand Paul in the Senate.
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“About That 3 Percent GDP Growth” by Larry Kudlow
Larry Kudlow’s opinion in the NY Sun regarding the 3+% GDP growth announced by the U.S. government this past week. Unfortunately for those celebrating this event – particularly those in the White House – the bad news, as Kudlow notes, is that all of the growth is attributable to massive deficit spending by the government, which will not have a happy ending for consumers, businesses, and taxpayers.
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Why regulators’ confidential bank ratings should not be public information
My latest article in The Hill explains why CAMELS ratings, an important tool in bank regulation, must not be made public.
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Why is the SEC still allowing crypto to run wild?
My latest article, co-authored with my friend Thomas Vartanian, argues that the SEC learn from history and regulate the crypto industry in order to protect the public interest.
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“How Will We Survive the ‘Deluge of Debt’?” by the New York Sun
I urge you to read the New York Sun editorial titled “How Will We Survive the ‘Deluge of Debt’?”. We all know and talk about the mountain of debt that exists not only in the in the United State but throughout the world. It was my incredible honor, as Chairman of the FDIC, to work side by side with the legendary central banker now deceased, Paul A. Volcker, from 1978 when he was appointed by President Carter as Chairman of the Federal Reserve.
Continue Reading “How Will We Survive the ‘Deluge of Debt’?” by the New York Sun
“How many more times will we be conned by crypto?” by Thomas Vartanian
My longtime friend and colleague, Tom Vartanian, has published a new article in The Hill on the urgent need to impose meaningful federal regulation on the Crypto industry. He makes a compelling case for protecting the public from potentially significant losses in these volatile and risky instruments.
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Schwab Network’s “Market on Close” on Federal Reserve
I joined Schwab Network’s “Market on Close” to give my perspective on the Federal Reserve’s announcement yesterday that it would keep its key interest rate unchanged heading into 2024.
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The FDIC Under a Microscope
The Federal Deposit Insurance Corporation is in the hotseat following the Wall Street Journal’s report of sexual harassment issues at the agency. Incidents of this nature tarnish the reputation of an agency that has brought so much comfort and financial security to the citizens of our great nation. The FDIC is a proud and extraordinary organization working…
“Reforming the Federal Reserve” by Alex Pollock
My long-time friend, Alex Pollock, has written what might be the most timely and important of the many thoughtful pieces he has authored over a lifetime of great scholarship. The article addresses the issue of whether the Federal Reserve should be subject to Congressional oversight when setting interest rates and determining the supply of money.
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How Risky Are the Banks Now? What Regulatory Reforms Make Sense? Federalist Society Panel Discussion
I joined the Federalist Society’s Regulatory Transparency Project for a panel discussion moderated by my good friend Alex Pollock.
What led to the TD-First Horizon deal termination
I spoke with Zoe Sagalow at S&P Global Market Intelligence on the suspension of Toronto-Dominion Bank’s acquisiton of First Horizon Corp., explaining how these processes work from a regulatory perspective.
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Remembering Charles Arthur (Butch) Isaac
Last Saturday Butch and his wonderful partner, Pam Clark, watched the Ohio State game together and had dinner. Some 12 hours later, Butch died in Pam’s arms. I don’t believe he could have ever scripted a better ending for his great life. I didn’t get to say goodbye, but I spoke with him by phone last Friday and texted him “Go Bucks” during Saturday’s game.
“Lots of Red Ink at the Fed” by Alex Pollock
Alex Pollock, who has devoted much of his lifetime to studying the financial world, has written two new articles about highly questionable monetary policy actions taken by the Federal Reserve in coordination with the US Treasury’s TARP bailout programs
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Bill Isaac – Financial Institutions in the Current Environment
Larry Gordon and I sat down for a wide-ranging interview covering the banking and thrift crises from 1978 through 1992 when the FDIC dealt with thousands of deeply troubled banks and thrifts, some 3,000 of which failed, including many of the largest regional banks in the nation.
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Government Debt Crisis Has Hit U.S. Banks | Bill Isaac, Former FDIC Chair
I joined host Jack Farley for an episode of the Forward Guidance podcast, during which we discussed my background in banking and the lessons I learned that should be applied today.
Continue Reading Government Debt Crisis Has Hit U.S. Banks | Bill Isaac, Former FDIC Chair
Capital reform is coming, but not without a fight
I spoke with American Banker about the Fed, FDIC, and OCC’s newly proposed capital rule changes.
Continue Reading Capital reform is coming, but not without a fight
Bloomberg Markets “The Close”: Proposed Capital Rules
Regulators have been acting in an ad-hoc manner, albeit in good faith, for over six decades (including during the period when I was Chairman of the FDIC). This unending practice of bailouts of large banks and large depositors must end––now.
I urge Congress and the regulators to develop a plan to reform the deposit insurance system to end bailing out the largest depositors when banks fail.
Continue Reading Bloomberg Markets “The Close”: Proposed Capital Rules
It’s time to stop uncontrolled federal spending without raising taxes.
How did the federal debt reach the crisis levels we see today? Having spent over 50 years in the banking industry, including nearly a decade at the FDIC from the late 1970s through the mid-1980s, I’ve seen this all before.
Continue Reading It’s time to stop uncontrolled federal spending without raising taxes.
“Time To Rein in a Runaway Federal Reserve That Took Congress for Granted” by Alex Pollock
My good friend, Alex Pollock, wrote a recent article for the New York Sun that I highly recommend every concerned citizen read about the manner in which the Federal Reserve has been handling monetary policy in recent decades and the need for its policies to be overseen, perhaps by a special bi-partisan Congressional oversight committee.…
Reagan Institute “Reaganism” Podcast
It was an enormous pleasure to join host Roger Zakheim, Director of the Reagan Institute, in a nearly hour-long conversation, covering the ongoing federal budget and debt crisis and the role that the FDIC plays in protecting American’s financial security. I urge you to set aside the time to listen intently to this extremely timely and important topic. Our nation’s future is clearly on the line.
FDIC reforms to stabilize and strengthen banking
In a new article published in The Hill, I propose five much-needed reforms to stabilize and strengthen today’s banking system.
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Yahoo! Finance TV on SVB, Signature Bank
I joined Yahoo! Finance TV once again to discuss today’s banking crisis and what’s to come.
SVB failure highlights the need to manage interest rate risk carefully
I spoke with FT’s Brooke Masters on the lessons banks must take from SVB’s meltdown.
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We’re going to have continuous banking problems in the U.S.: Former U.S. FDIC chair
I joined BNN Bloomberg to discuss the ongoing U.S. banking troubles.
Continue Reading We’re going to have continuous banking problems in the U.S.: Former U.S. FDIC chair
JPMorgan: the bank that never lets a crisis go to waste
I spoke with the Financial Times on JPMorgan’s takeover of First Republic as a public service.
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Banks’ new problem: The market is predicting they will fail
I spoke again with Politico’s Sam Sutton on the chaos that is threatening our banking ecosystem.
Continue Reading Banks’ new problem: The market is predicting they will fail
To prevent bank runs, FDIC wants to shore up its coverage of bank accounts
I spoke with Marketplace podcast about how the FDIC can help stabilize banking.
Continue Reading To prevent bank runs, FDIC wants to shore up its coverage of bank accounts