Gerald J. Ford, who became a billionaire by purchasing distressed lenders during the last banking crisis, isn’t waiting around during this one for Sheila Bair’s Federal Deposit Insurance Corp. to offer him a deal.
Congressional negotiators meeting to resolve differences over bank-regulation legislation are likely to retain a proprietary-trading ban and higher capital standards while stripping a measure that would bar commercial lenders from running swaps desks, said lawmakers and analysts.
European lenders may have to give the Federal Reserve daily updates on almost 100 items, including cash flow, collateral, and unpledged assets, as U.S. regulators assess the threat posed by the continent’s debt crisis.
The U.S. Treasury’s plan to sell its remaining 32 percent stake in General Motors Co. is a leap forward for the Obama administration’s effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue.
Elizabeth Warren , appointed last week to help set up a new U.S. consumer financial-protection agency, spent much of the past two years critiquing Treasury Secretary Timothy F. Geithner . Now, he will oversee her.