Found 21 article(s) for author 'Robert Pozen'

Accounting rule change undermines US banks

Accounting rule change undermines US banks. Robert Pozen, June 30, 2013, Opinion. “While the International Accounting Standards Board sets the rules for public companies in most countries, the Financial Accounting Standards Board sets the rules for public companies in the US. Yet, despite their efforts to co-ordinate, the IASB and FASB have proposed different rules for an important subject – how banks should decide when to expand their reserves against loan losses. We agree that the current rules on loan loss reserves for banks are too narrow and should be changed…”  May require purchase or user account. Link verified March 28, 2014

Tags: , ,

Hits and Misses On Money Market Reforms

Hits and Misses On Money Market Reforms. Robert Pozen, June 25, 2013, Opinion. “Many U.S. regulators view money market funds as a key source of systemic risk because of what happened to the Primary Reserve Fund during the 2008 financial crisis. When that Fund’s holdings in the commercial paper of Lehman Brothers went south, the Fund “broke the buck” — leading other investors to redeem the shares of similar money market funds, even if they did not hold any Lehman paper…” Link

Tags: , ,

The SEC Gets Money-Fund Reform Half Right

The SEC Gets Money-Fund Reform Half Right. Robert Pozen, June 17, 2013, Opinion. “The Securities and Exchange Commission recently proposed two new rules to help prevent sudden redemptions of money-market shares by investors from wreaking havoc on the financial system. The first proposal, requiring a “floating NAV” (net asset value), deserves support because it is limited to the most risky type of money-market funds: those held mainly by fast-moving institutions and invested largely in prime commercial paper…”  May require purchase or user account. Link verified March 28, 2014

Tags: , ,

Complex funds need better risk disclosure

Complex funds need better risk disclosure. Robert Pozen, May 5, 2013, Opinion. “Risk matters as much as return in any mutual fund investment, but assessing the risk of a specific mutual fund can be a challenge. Even though mutual funds have become increasingly complex, their risk disclosure was designed for a simpler era, when funds used only traditional investment strategies. Funds continue to inform investors about risks primarily by using words. In the prospectus sent to fund buyers, funds describe the types of investments they may own….” May require purchase or user account. Link verified June 18, 2014

Tags: , ,

New tax provision on deductions won’t hurt charitable giving

New tax provision on deductions won’t hurt charitable giving. Robert Pozen, April 1, 2013, Opinion. “In the recent tax legislation to avoid the fiscal cliff, Congress reinstated a limitation on itemized deductions for affluent taxpayers, known as Pease (after its original author, the late Rep. Donald Pease). Under Pease, itemized deductions are modestly reduced depending on how much a taxpayer’s adjusted gross income exceeds a specified threshold — $250,000 for an individual and $300,000 for a married couple…”  Link verified March 28, 2014

Tags: ,

Corporate-Tax Reform Without Tears

Corporate-Tax Reform Without Tears. Robert Pozen, March 31, 2013, Opinion. “Economists have long recognized the damaging effects of the high U.S. corporate tax—at 35%, the rate is the highest in the industrialized world. Over the past few years, politicians in both parties have come to understand that the corporate tax system itself is dysfunctional, causing resources to be misallocated and encouraging corporations to invest overseas…”  May require purchase or user account. Link verified March 28, 2014

Tags: ,

The 529 College Savings Plan Needs an Update

The 529 College Savings Plan Needs an Update. Robert Pozen, March 12, 2013, Opinion. “In this economy, a college education is more important than ever: The unemployment rate for college graduates is 3.8 percent, compared to 7.8 percent for everyone else. Yet, the exploding costs of education are causing some students to graduate with heavy debt burdens…” Link verified March 28, 2014

Tags: ,

US tax reform: Reducing the tax code’s bias for debt

US tax reform: Reducing the tax code’s bias for debt. Robert Pozen, February 18, 2013, Opinion. “To begin with, let me summarise the specifics of my proposal, which I detailed in Tax Notes. My proposal would reduce the US corporate tax rate from 35% to 25%. I would finance such a rate reduction by limiting deductions for the gross interest expense of corporations (I call this provision the “interest cap”)…” Link verified March 28, 2014

Tags: ,

A Win-Win: Compromise on Foreign Profits

A Win-Win: Compromise on Foreign Profits. Robert Pozen, February 7, 2013, Opinion. “In last year’s State of the Union, President Obama argued in favor of reforming how the U.S. taxes the foreign profits of U.S. corporations: “From now on, every multinational company should have to pay a basic minimum tax.” While an international minimum tax is a sound idea, it should be part of a broader effort to fix our dysfunctional system for taxing foreign profits…..” Link verified March 28, 2014

Tags: ,

35% Is Way Too High For Corporate Taxes

35% Is Way Too High For Corporate Taxes. Robert Pozen, January 29, 2013, Opinion. “If there’s one policy agreement between Republicans and Democrats, it’s that the 35% corporate tax rate in the United States should be reduced to 28% or 25%. The current rate, highest in the advanced industrial world, disincentivizes investment and encourages corporations to relocate overseas…”  Link

Tags: ,