Two former JPMorgan Chase & Co. employees were charged by U.S. prosecutors with attempting to conceal trading losses at the largest U.S. bank last year as part of a probe of its $6.2 billion loss on derivatives bets.
Treasury Secretary Jacob Lew said his agency has been involved in a bipartisan Senate effort to overhaul U.S. housing finance while retaining a government backstop for mortgages in the event of a financial crisis.
“It’s our currency, but it’s your problem.” This musing from Nixon-era Treasury Secretary John Connally is about to find new relevance as the White House battles Republicans over raising the U.S. debt limit.
White House budget director Jacob Lew said the administration wants to shift the focus of budget talks from spending cuts to long-term deficit reduction, which will force Republicans to discuss raising government revenue .
President Barack Obama ’s budget chief, Jacob Lew , said he is optimistic lawmakers will reach an agreement to fund the government through the end of the fiscal year and signaled the administration is open to more spending cuts in negotiations with Republicans.