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.
JPMorgan’s Dimon Target of Effort to Be Booted From NY Fed Board
After calling for JPMorgan's CEO Jamie Dimon to step down from his position on the board of the New York Federal Reserve, Simon Johnson, former chief economist at the IMF, started a petition.
Wall Street at War
A decade ago, the financial industry acquitted itself well in confronting a terrorist attack. Such resilience is needed more than ever in today’s and future challenges.
AIG Repurchase Bid Rejected by Fed
AIG, which had attempted to repurchase the assets of Maiden Lane II, a package of securities it sold to the Federal Reserve in November 2008 when it needed to raise money, was rebuffed Thursday when the Fed said no to the deal.
At FOMC November Meeting, Inflation Seen as ‘Subdued’ and Housing Market Activity as ‘Exceptionally Weak’
Minutes of the FOMC meeting indicate frustration at slow recovery but low probability of a double-dip recession.
AIG Sells Asian Life Insurance Company to Prudential plc for $35.5 Billion
Sale of AIA allow faster payback to the government