A former senior bank examiner for the Federal Reserve Bank of New York sued her ex-employer, claiming she was fired because she refused to change her findings that Goldman Sachs Group Inc. lacked a firmwide conflict-of-interest policy.
The groundwork for preventing a U.S. Treasury default from causing a cataclysmic breakdown of the plumbing of the global financial system was laid after the last debt-ceiling crisis in 2011 -- and is still a work in progress.
Every morning, from his desk by the bathroom at the far end of Royal Bank of Scotland Group Plc’s trading floor overlooking London’s Liverpool Street station, Paul White punched a series of numbers into his computer.
The Federal Reserve Bank of New York may seek to require banks to buy back its holdings of faulty mortgages and other assets acquired through the rescues of Bear Stearns Cos. and American International Group Inc. , a spokesman said.
American International Group Inc., the insurer that’s weighing whether to join a shareholder suit alleging its 2008 bailout was unconstitutional, would face tough odds in court, a former government watchdog said.
American International Group Inc. opted against joining its former chief executive officer in a lawsuit against the U.S. after lawmakers said the case was an insult to taxpayers who bailed out the insurer.
Maurice R. Greenberg, the former American International Group Inc. chief executive officer, seeks to break new ground in lawsuits challenging the U.S. takeover of the insurer in a bailout that reached $182 billion.
Representative Kevin Brady, the top Republican on the Joint Economic Committee, is drafting legislation that would focus the Federal Reserve on a single mandate for price stability, require more transparency and shift control over interest rates away from Washington.