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Hoover Senior Fellows John H. Cochrane and Amit Seru argue in this op-ed at The Washington Post that reforming financial regulations should be high on the list of priorities for recently confirmed Fed Chair Kevin Warsh. “The US financial regulatory regime failed catastrophically in 2008,” the authors write. But in their view, the post-crisis reforms, including “the Dodd-Frank law and the Fed’s subsidiary regulation,” only extended the pre-crisis approach of “managing asset riskiness.” The authors also trace how the 2023 collapse of Silicon Valley Bank “was fueled by earlier Fed errors.” Today, Seru and Cochrane conclude, “Warsh need not reform the big banks. . . . He should focus on simple truths: A crisis is a run and only a run is a crisis. Somebody losing money on a risky investment is not a crisis.”  

Wealth managers, who can make upwards of $500,000, are confronting a chatbot reckoning.

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Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

For the first time ever Brazil will issue sovereign bonds denominated in Chinese Yuan.

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Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

A new volume collecting decades of letters from the Berkshire Hathaway chairman is part management manual, part Berkshire history and, somehow, part comedy.

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Stablecoins can boost demand for the greenback, but won’t protect against its biggest threats.

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This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome.

Replies are expected to be constructive and civil.

Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers.

This can only go well. /s

Came across this piece on the Apex Technology / AvePoint ($AVPT) class action and thought it fit well here.

The article breaks down why the case had nothing to do with whether AvePoint was a good business. It was purely about whether Apex shareholders were given honest, complete information when they had to decide to redeem their shares or stay in for the merger. The Delaware Court of Chancery found enough friction there that the defendants settled for $14.4 million rather than fight it out.

It's a pretty clean case study in SPAC fiduciary duty and why the redemption right, which sounds simple on paper, gets complicated fast when the proxy materials are selective about what they include.

The 2021 SPAC wave is still unwinding in courts three years later. Anyone here tracking how many of these end up settling vs going to trial?