The Federal Reserve’s review of its decision to let banks store, transport and trade raw materials signals a potential rebuilding of the wall between banking and commerce that legislation and rulemaking have eroded.
In little more than a decade, Promontory Financial Group LLC has evolved into a new kind of Washington player tapped by banks including Morgan Stanley and Citigroup Inc. to resolve regulatory disputes behind the scenes.
Josh Rosner, managing director at Graham Fisher and Company, Christopher Whalen, senior vice president and managing director of Risk Analytics, and Bob Ivry, reporter with Bloomberg News, discuss banks. Rosner, Whalen, and Ivry talk with Bloomberg's Kathleen Hays of "The Hays Advantage" on Bloomberg Radio.
The Federal Reserve may lend $1 trillion to central banks as Europe’s crisis roils markets and erodes confidence in the region’s lenders, Anthony Sanders, a George Mason University finance professor, told Congress.
Investors owning about a third of U.S. mortgage securities without government backing are urging bond trustees to help end practices that damage their holdings, according to Dallas lawyer Talcott Franklin .