Douglas Elliott News
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European Parliament negotiators abandoned a demand for a fast-track move toward debt pooling by euro governments at the insistence of a German-led group of nations opposed to such an anti-crisis step.
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Federal Reserve Governor Jeremy Stein said some credit markets, such as corporate debt, are showing signs of potentially excessive risk-taking, while not posing a threat to financial stability.
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Cerberus Capital Management LP struggled to find investment banks to help sell Freedom Group Inc., the gun company whose rifle was used in the shooting spree in Newtown, Connecticut, said people with knowledge of the matter.
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The Group of 20 nations is split on the scale and timing of increases in bank-capital requirements that have been under discussion since governments were forced to bail out lenders, an official from a G-20 government said.
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JPMorgan Chase & Co. and Goldman Sachs Group Inc. compete for banking and trading business from almost all of the world’s largest companies, with one notable exception: Chesapeake Energy Corp., the second biggest U.S. gas producer now facing a cash-flow shortage.
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President Barack Obama ’s signing today of the biggest U.S. financial-rules overhaul since the Great Depression will be a “major watershed” for the government’s bailout programs, a Treasury Department official said.
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While Congress puts finishing touches on its financial-regulatory overhaul, Wall Street lobbyists are preparing for a new battle out of the public spotlight and inside almost a dozen federal agencies.
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New financial regulations will cause a “modest” increase in the interest rates banks charge on loans in developed countries as lenders reduce costs, according to a study by International Monetary Fund staff.
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Treasury Secretary Timothy Geithner says the U.S. economy is in a “much stronger position” than it was two years ago.
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The leading Republican candidates for president have embraced an explanation of the financial crisis that has been rejected by the chairman of the Federal Reserve, many economists and even three of the four Republicans on the government commission that investigated the meltdown.
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