The Federal Reserve gave more support to the world’s biggest financial companies, including Barclays Plc , Citigroup Inc. and Royal Bank of Scotland Plc, than the direct loans it disclosed this month in response to congressional mandates.
Euan Nisbet , a University of London earth sciences professor who has traveled the world testing the air for greenhouse-gas pollution, makes his way to a rocky outcropping on the eastern coast of Hong Kong Island on a sunny November afternoon. He takes out a battery-operated pump connected to a thin tube and a plastic bag to capture traces of the wind.
The Federal Reserve Bank of New York joined with the biggest bond investors in the U.S. in seeking to force Bank of America Corp. to buy back bad home loans packaged into securities as the battle over who will bear mortgage losses intensifies.
The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee . He made the request on the grounds that taxpayers ought to know how their money was being used.
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.
U.S. banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others’ notes perpetuate what one regulator calls a “downward spiral” of losses.
From July 2004 through April 2007, as credit markets boomed, Goldman Sachs Group Inc. created 23 financial transactions called Abacus, the word for a relatively crude counting tool involving the shuffling of beads.