In 2009, as the financial crisis entered its darkest days, G20 leaders descended on London for a meeting aimed at bringing the world economy back from the brink.
Big banks like Bank of America Corp and Citigroup Inc should be reclassified as government-sponsored entities and have their activities restricted, a senior Fed official said on Tuesday.
U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.
Perched on a chair overlooking a wood panel-lined room in Dublin’s High Court, a bespectacled Judge Elizabeth Dunne has become all-too-used to hearing from the victims of Ireland’s economic meltdown.
By Tony Pallotta
In the fall of 2010, there was no shortage of news regarding faulty foreclosure processes, aka "robo-signing." Bank stocks took a hit and the threat of a nationwide foreclosure moratorium appeared imminent. Then came the concept of put back risk to the big banks claiming violations of reps and warranty agreements or pooling and servicing agreements (PSAs). Since that time the media has gone rather quiet on the subject and the price action in the bank stocks would imply all is well. BAC settled for pennies on the dollar with one of the GSEs and the stock rocketed that very day as investors were no longer "worried about the uncertainty."
A former senior Swiss bank executive said on Monday that he had given the WikiLeaks founder, Julian Assange, details of more than 2,000 prominent individuals and companies that he contends engaged in tax evasion and other possible criminal activity.
And You Thought Lehman Was Leveraged: A large bank reported record earnings last week. The earnings weren’t just a record for the bank; they were the greatest one year earnings in the entire history of banking. Over thousands of years, no single bank has earned anything like this.
By Michael Ashton
It was a reasonably quiet Monday, as expected considering there was no economic data due. Stocks sagged in the morning, and both stocks and bonds rallied in the afternoon - the former to unchanged on the day, and the latter from unchanged to up a few basis points.
News was light, and I accidentally turned on CNBC.
A raft of new federal and local laws ring in the new year, governing a span of topics from health care and finance to texting, guns and smoking.
Some of the world’s strongest banks have profited from an emergency credit facility set up by the US Federal Reserve to shore up confidence in the global financial system, according to a Financial Times analysis of data released by the Fed.