Latest news with #MichaelBarr
Bloomberg
2 days ago
- Business
- Bloomberg
Bloomberg Business of Sports: NFLPA's Secret VC Plan
Join hosts Michael Barr, Damian Sassower and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports. Bloomberg US sports business reporter Randall Williams joins to discuss his latest reporting on the turmoil surrounding the NFL Players Association, including new word that former leaders were working on a secret venture capital fund project. Former NFLPA executive director Lloyd Howell hoped that one day it would raise enough money to invest in a stake in an NFL franchise. Also on this week's show: Bloomberg Opinion columnist Adam Minter on his latest column: America Is Undermining Its Soft Power in Sports Kelleigh Irwin Fagan, former collegiate athlete and now partner at CCHA Law discusses the latest in the NCAA
Bloomberg
30-07-2025
- Business
- Bloomberg
Bloomberg Business of Sports: NFLPA Controversies
Join hosts Michael Barr, Damian Sassower and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports. New York and New Jersey officials are projecting a $3.3 billion economic boost to the region from hosting the FIFA World Cup in 2026. The region will hold eight matches at Metlife Stadium in New Jersey, including the final on July 19, 2026, expecting to bring in over 1.2 million fans and tourists, according to an economic impact summary released Monday by the NYNJ Host Committee, the local body responsible for organizing the games. Bloomberg News reporter Sri Taylor joins to discuss her reporting on what the highly anticipated games could mean for local economies. Then, Australian yachtsman and CEO of Red Bull Italy's SailGP team discusses the rise of competitive sailing and an upcoming documentary. Plus, the NFL's players association recently found itself embroiled in controversy that led to the resignation of NFLPA executive director Lloyd Howell as well as at least one other executive. Martin Edel, Goulston & Storrs Sports Law Practice co-chair and adjunct professor at Columbia University joins to discuss the latest headlines and potential fallout.
Bloomberg
18-07-2025
- Business
- Bloomberg
Bloomberg Business of Sports: Sale of Tampa Bay Rays
Join hosts Michael Barr, Damian Sassower and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports. Apple is expected to win the rights to stream Formula 1 races on Apple TV+ in the United States thanks to a $150 million bid, rights currently held by Disney's ESPN, according to a report by Business Insider. Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan breaks down what this means for Apple moving forward. Then, Bloomberg News Global Business of Sports reporter Randall Williams on NBA officially beginning the process to expand for the first time in more than two decades. Why Las Vegas and Seattle are favored Plus, MLB Network Insider Jon Morosi on the pending sale of the Tampa Bay Rays, the upcoming trade deadline and more.
Yahoo
17-07-2025
- Business
- Yahoo
‘Resist' deregulatory spree, Fed's Barr warns
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Federal Reserve Gov. Michael Barr called on policymakers Wednesday to 'resist the pressure' to loosen banking industry regulations or refrain from imposing rules on new activities during robust economic times. Pointing to periods in U.S. history when more lax regulatory environments led to crisis, Barr warned that 'weakening often appears justified at the time and may be implemented by well-meaning policymakers who simply miscalculate the long run effects of their actions.' Speaking at The Brookings Institution on Wednesday, Barr, a former vice chair for supervision at the central bank, said he's worried that's happening now, referencing some of his recent dissenting opinions on Fed proposals related to stress testing and the supervisory rating framework for big banks. With proposed changes to stress testing – an important innovation coming out of the global financial crisis – 'the board is responding to the current environment by agreeing to go through a process for the stress testing that I think is likely to ossify the stress test, make it easier for the banks to game those stress tests,' Barr said. 'People are doing this for good, well-meaning reasons, but I'm really worried that, over time, stress testing will become less effective.' Barr, who has been on the board since 2022, stepped down from the vice chair role in February. Michelle Bowman, appointed by the Trump administration, has since filled that position on the board and has moved swiftly to pursue changes to supervisory ratings, for example. On Wednesday, Barr highlighted the circumstances that led to the Great Depression, the savings and loan crisis of the 1980s and 1990s, and the global financial crisis, and lessons learned from each, calling those lessons 'one of the most important resources that policymakers have.' 'An important lesson we can draw from U.S. financial crises is the role that ill-advised weakening of the bank regulatory framework played in those crises,' Barr said. 'It is well within our ability, and is our duty as regulators, to learn from these episodes to avoid making the same mistakes.' Preceding those events, there was 'heady confidence that market discipline would control risk-taking, that downside risks were so implausible as not to merit attention, and that easing regulation was justified,' meaning 'insufficient thought was given to how regulatory weakening might create new vulnerabilities,' Barr said. 'A bit of humility would have helped,' he added. Although the industry is once again experiencing the political pendulum swing, shifts in regulatory philosophy across presidential administrations aren't unique, Barr acknowledged. 'Bank regulation involves trade-offs, and those trade-offs involve decisions about how much to worry about risk in the financial system, as compared to efficiency gains that you might have in the shorter term,' he said. 'That's appropriate for people to debate and to disagree about.' It's important to rethink regulation on a periodic basis, Barr said, 'not in one direction or another, not to say there's more regulation or less regulation, but do we have the right mix of regulation?' Memories are short, Barr said, recalling the March 2023 banking sector stress caused in part by a prior period of deregulation, when regulators reduced supervision of and requirements for regional banks. With the temporary Bank Term Funding Program, bank regulatory agencies stepped in to prevent that stress from becoming a financial panic, he said. 'The intervention worked, and it worked so well that nobody remembers that we had stress in the banking system just two years ago.' The lessons of history are 'here with us now,' he said. Looking ahead, you 'have to be humble about the ability to predict these shocks, and what you need to focus on is making the system less vulnerable when those shocks hit.' Barr, whose term as Fed governor ends in 2032, said he doesn't have any plans to leave prior to that. Recommended Reading Fed's Bowman urges more support of de novo banks Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16-07-2025
- Business
- Bloomberg
Fed's Barr Warns of Booms and Busts Tied to Weakened Bank Rules
Federal Reserve Governor Michael Barr emphasized that regulation must evolve with the financial system, issuing a warning as Trump-era officials look to ease rules for big banks and shift to a lighter touch. 'It is striking to see the pattern of regulatory weakening during a boom, including the failure of the regulatory environment to keep pace with the evolving financial sector, and how this weakening lays the foundation for a subsequent bust,' Barr said in prepared remarks for a Brookings Institution event on Wednesday.
