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Barron’s 100 Most Influential Women in US Finance

BWC member Afsaneh Beschloss, founder and CEO of RockCreek was named to Barron’s 100 Most Influential Women in US Finance list for the second year in a row. The list honors leaders in the financial services industry who have made outsized contributions to strengthening the US financial system.

Samson Enzer

BWC welcomes our newest member, Samson Enzer, partner at Cahill Gordon & Reindel LLP.

A distinguished former federal prosecutor, Samson “Sam” Enzer is the chair of Cahill’s nationally recognized cryptocurrency and blockchain group, and a member of the firm’s renowned white collar, government investigations, and litigation practices. Since launching Cahill’s cryptocurrency team, Sam has been named a national Law360 MVP in fintech and a National Law Journal Trailblazer in cryptocurrency, blockchain, and fintech based on the team’s accomplishments in these fields.

Who Is to Blame for the New Banking Crisis?

BWC vice-chair William Rhodes: "a good deal of it lies with the former Trump administration and those members of Congress who listened to bank lobbyists and decided it would be wise to lighten the regulatory and capital burden on so-called smaller banks."

Bailouts Create a Moral Hazard Even if They're Justified. Is There Another Way?

BWC member Hung Tran argues "a much better approach would have been to protect large depositors up to the value of the closed banks’ high-quality bond portfolios, which are eligible as collateral to borrow from the newly launched Bank Term Funding Program."

SVB and Stablecoins—Time to Tighten Regulation

The collapse of Silicon Valley Bank and subsequent jitters at USDC shall serve as a reminder that stablecoin regulation remains far too lax. Circle, the U.S. company and issuer of USDC, a stablecoin denominated in U.S. dollar, is mostly regulated in the U.S. as a money transmitter. This is grossly insufficient for a company with US$40 billion in stablecoins outstanding. Regulation and supervision need to impose sufficient obligations for stablecoin issuers to adopt best industry practices. 

Econ 101: SVB and Bank Runs

"The original sin of modern banking is financing long-term loans and investments with money (demand and savings deposits)," argues BWC member Warren Coats. He continues: "Money... should be fully separated from credit. Deposits should not finance loans."

Look Out America, Here Come the Bond Vigilantes

BWC chair Bill Dudley says, "if US officials don’t do something about the government’s fiscal problems, the bond market will."

Planning for Ukrainian Reconstruction After the War

BWC vice-chair William Rhodes recently spoke with the European American Chamber of Commerce about the need to start planning now for the future, massive reconstruction of Ukraine after the war, drawing on the lessons learned from the Marshall Plan and the reconstruction of Japan.

Silicon Valley Bank Failed: What Happens Next?

BWC member Hung Tran says, "the regulatory community should work with Congress to reform and strengthen the financial regulatory framework given the obvious weaknesses revealed over the past week."

Prestige Economics President on SVB Fallout

Jason Schenker, president at Prestige Economics, discussed the latest developments with SVB. He spoke with the hosts of Daybreak Asia.