Financial Services Report - Winter 2012

Editor's Note

Occupy Starbucks. Have you ever wondered who makes up the one percent that sit in coffee houses sipping sun-dried Ethiopian soy milk lattes reading Nietzsche on their Kindles and tweeting Herman Cain jokes? If you haven't got scone crumb gravel stuck in the Smartphone pocket of your hoodie, chances are it's not you. You're part of the 99 percent. You should be grande angry.

We turn our back for one quarter and look what happened. Kim Kardashian got married and divorced, and so did the "Super Committee." Other stuff happened too. Living wills are this season's "singing trout." And with the demise of the "SuperComs," Congress has time on its hands and is turning again to privacy. The "Volcker Rule" is getting implemented by the Fed, OCC, SEC, and FDIC. FinCen issued a bunch of proposed rules. And there is a lot of noise about reserve requirements, both here and in Baselville. Finally, the Consumer Financial Protection Bureau ("CFPB") issued a number