In a Washington hearing last week, the chairman of the House Banking Committee stared at one of the nation's top managers of money. Grumbled Texas Representative Wright Patman: “You can absolutely veto everything the President does
Tag Archives: banking
Will Congress Pass Radical Bank Reform by Year-End?
What reform could dramatically remake America and become law by Christmas?
Women: Saviors of the world economy?
The largest growing economic force in the world isn’t the China or India — it’s women. The economic story of burgeoning economies such as China is also the story of “factory girls,” young women who have found new spending power as a result of new economic opportunities.
Madoff investor drowns in Florida pool
A key investor with convicted swindler Bernie Madoff drowned in his swimming pool Sunday afternoon, police said.
IMF warns of further recession risks
Banks round the world have still to reveal about half of their likely losses resulting from the financial and economic crisis, the International Monetary Fund said on Wednesday, warning that there was still a “significant” risk of another downward lurch in the global recession. The IMF described credit risks as remaining “elevated” even though financial conditions have improved significantly since spring.
World changed, finance rules remain same post-Lehman
The terrain of the financial world has changed since the collapse of Lehman Brothers. It’s been one year since the U.S
UK regulator seeks to deflate financial sector with global tax
The head of Britain’s top banking watchdog supports the idea of new global taxes on financial transactions, warning that a "swollen" financial sector paying excessive salaries has grown too big for society.
UBS to cut nearly 9,000 more jobs
Switzerland’s largest bank will shed nearly 9,000 more employees as it tries to recover from the global financial crisis, its CEO said Wednesday. The announcement by UBS Chief Executive Officer Oswald Grubel came at the company’s annual general meeting in Zurich.
The Case for Letting AIG Fail
There’s an uproar about whether the government should let AIG fail, a debate re-energized by the latest revelation of bonus payments going to AIG’s executives. In fact, there’s a good case to be made that AIG should fail, and it has nothing to do with bonuses. The rescue of AIG is warping the banking system and unnecessarily extending the credit crisis.
Humbled banker parts with yuppie past
Ernie Casillas lived the good life as he doled out millions of dollars in loans in California. The former banker drove fancy cars and took extravagant vacations