One hundred fifty years ago, the U.S. was two years into a brutal Civil War. The financial cost left the federal government under enormous stress, leading to a result no one had imagined: the first modern system of bank regulation.
Cities and regions across Russia’s nine time zones are on track to sell the most bonds in four years, seeking to raise funds before an anticipated slump in pension-fund cash next year drives up borrowing costs.
The event was a June 8 American Bankers Association conference on international economics in Atlanta, and the keynote speaker was Federal Reserve Chairman Ben S. Bernanke. During a question-and-answer period, Jamie Dimon, chief executive officer of JPMorgan Chase & Co., waited patiently while several other bank executives threw polite queries at the central bank head, Bloomberg Markets magazine reports in its October special issue on the 50 Most Influential people in global finance.
Chancellor of the Exchequer Alistair Darling will announce his plan to reshape the banking industry and regulation of the financial services industry next month after reviewing a report on the matter released today.