Germany, Austria and other European nations harbored a “deep distrust” of a U.S. program that monitors millions of international banking transactions for evidence of terrorist activity, the New York Times reported, citing State Department cables.
Representative Chris Van Hollen of Maryland, ranking Democrat on the House Budget Committee, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that Congress should eliminate a tax break for private-equity and hedge- fund executives to pay for extending a payroll tax cut for workers.
The Vatican may extend its probe of suspicious bank transactions to people beyond Nunzio Scarano, the prelate arrested last month by Italian authorities on charges of fraud and corruption, Ansa reported.
Three former executives of Banca Monte dei Paschi di Siena SpA went on trial for allegedly obstructing regulators in the first case related to how the managers may have embellished the bank’s finances.
A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market.
OTP Bank Nyrt., Hungary’s largest lender, fell to the lowest in three months as the government said it plans to tax financial transactions and concern increased the euro-area debt crisis will escalate.