Wealthy Clintons Use Trusts to Limit Pain of Estate Taxes
Bill and Hillary Clinton have long supported an estate tax to prevent the domination of inherited wealth. That doesn’t mean they want to pay it.
Wall Street Bets on Bond Revival in Trader Hiring Spree
Wall Street firms are starting to bet on an end to the profit-eroding boredom in credit markets by building their bond trading desks.
New Hire Roundup: Schmitter Goes to Commonfund
Also, AllBackoffice Consulting LLC has announced that Marty Morua has joined the firm.
Wall Street Bond Dealers Whipsawed on Bearish Treasuries Bet
Betting against U.S. government debt this year is turning out to be a fool’s errand. Just ask Wall Street’s biggest bond dealers.
Banker Deaths Worry Industry as Coroners Probe
London coroners are preparing to investigate two apparent suicides as unexpected deaths around the world have raised concerns about mental health in the finance industry.
Independent Scotland Would Seek to Keep Pound; London Says No
A vote for independence from the U.K. in Scotland scheduled for September could pave the way for a new currency.
SEC, FINRA Enforcement: Swiss-Based Firm Bilks U.S. Investors of $11M
Meanwhile, FINRA fined Deutsche Bank Securities for deficiencies in its lending program while Argentus Securities was censured and fined on AML failures.
Barclays’ Diamond Blames Libor Fixing on Other Banks, Regulators
Moody’s cuts Barclays' outlook; investors may be on the hook for losses.
Europe’s Crisis Focus Shifts From Greece to Spain
Concerns eased a bit over the possibility of a Greek exit from the euro zone as Saturday polls showed rising support for pro-bailout parties in that country. But attention turned to Spain as earlier estimates of funding needed for a bailout of its largest bank looked to be seriously undervalued.
S&P, Fitch Cut Ratings of 17 Banks in U.S., Europe
S&P clips 10 in Spain, Fitch hits BofA and Goldman.