Fed Says Economy Rebounding as It Trims Bond Purchases
The FOMC trimmed bond-buying by $10 billion for a fifth straight meeting, to $35 billion, staying on pace to end the program late this year.
Bernanke Talks and 10-Year Treasury Yield Zooms Past 2%
Bernanke admits that savers who rely on interest income from savings accounts or government bonds are receiving very low returns even as low interest rates have helped create jobs and support home prices.
AIG Weighs Joining Suit Against Government
The lawsuit, filed by former chairman Maurice “Hank” Greenberg, argues that the government was unfair to its shareholders through the way it conducted its bailout of the insurer.
Beyond Stock Gloom
Since the recovery from the worldwide financial meltdown commenced in 2009, global stock markets have closely mirrored international economic fundamentals.
Fed Balance Sheet to Reach $4 Trillion With Next Announcement
The Federal Reserve will “amplify record accommodation” by announcing $45 billion in monthly Treasury buying on Wednesday.
New York Regulator Threatens to Suspend Standard Chartered Over Iran Dealings
The New York Department of Financial Services has warned the British bank Standard Chartered that it could be suspended from doing business in the state over charges that it violated money-laundering laws in dealings with institutions in Iran that are subject to U.S. economic sanctions.
Congress Prods N.Y. Fed for More LIBOR Info
The House Financial Services Oversight and Investigations Subcommittee told the New York Fed on Monday that it wants more information about the the handling of banks’ alleged “manipulation and suppression” of LIBOR.
Banks May Seek Group LIBOR Settlement
Barclays has been a cautionary lesson for other banks involved in the LIBOR-rigging scandal.
BoE Governor Pushed for Barclays Chief’s Ouster
The British Parliament got an earful over the last couple of days as testimony continued in the LIBOR-fixing scandal.
Spitzer: LIBOR Scandal ‘About as Big as It Gets’
Former Gov. Eliot Spitzer of New York, no stranger to scandal himself, says there could be “very serious questions” for Treasury Secretary Tim Geithner if he failed to adequately pursue concerns about LIBOR in 2008.