The SEC's failure to adopt a final version of this rule was one of Senator Warren's motivations for issuing her letter that blasted SEC Chair White. 

Ironically, the economic analysis (linked below) illustrates the fruitlessness of the information that will be produced by the rule. Surely, financial regulators can find better uses for their time. Leaving aside the utter waste of regulatory resources involved, how much money will issuers spend to comply with a rule that is of no…

Wow! Or Whoa? Give it a read. Senator Warren's attack on Chair White is vicious, particularly given the fact some of the Senator's criticisms (for example, as to Chair White recusing herself) are easily rebutted. Even where Senator Warren could reasonably disagree with Chair White (for example, on the matter of whether accused parties should be required to plead guilty as a condition to settling a case), Chair White's position is likewise completely reasonable (i.e., the SEC must conserve…

The 2015 FSOC Annual Report suggested significant dangers ahead including: (1) very low interest rates that are making it impossible for retirement funds, particularly government retirement funds, to meet their future obligations, and (2) quick rises in interest rates that could lead to fire sales in markets where broker-dealers will have no incentive or ability to provide any liquidity. (See, .) That raises a challenge for monetary policy: keep interest rates low and pension plans…

From a policy standpoint, the interesting question is whether the capital rules treat corporate and municipal debt equally or favor either private or governmental lending.