U.S. banks would have to change the way they compensate traders involved in market-making activities under one of the proposed restrictions of the so-called Volcker rule, according to a draft circulating among regulators.
Jefferson County, Alabama, declared the largest municipal bankruptcy in U.S. history, capping a more than three-year saga that turned it into one of the biggest casualties of Wall Street’s credit crisis.
A former Jefferson County, Alabama , commissioner was sentenced to 10 years in prison for accepting bribes from an engineering firm that worked on a $3 billion sewer system that nearly bankrupted the county.
A BP Plc investor has sued the company’s board of directors on claims its pursuit of profits at the expense of safety led to the Gulf of Mexico oil spill that could cost the company billions of dollars.
JPMorgan Chase & Co. was sued by insurer Assured Guaranty Ltd. to recover all claims the guarantor might have to pay on $378 million of coverage provided for sewer bonds issued by Jefferson County, Alabama .