Wall Street faces more intensive government scrutiny of trading after U.S. regulators issued what they billed as a strict Volcker rule today, imposing new curbs designed to prevent financial blowups while leaving many details to be worked out later.
Former Washington Mutual Inc. Chief Executive Officer Kerry Killinger and two other bank officials are in settlement talks with the Office of the Comptroller of the Currency, the last chapter in the government’s probe of the largest U.S. bank failure.
Pacific Investment Management Co. is wagering at least $10 billion in the credit-default swaps market that U.S. corporate bonds will gain as the Federal Reserve extends unprecedented stimulus into 2014, according to traders and investors.
The personal-taxes-to-personal- income ratio was 11.7 percent in August, almost back to the 12.3 percent long-term average. That eases the pressure on the invisible hand to push for higher tax rates or more aggressive collections.
Goldman Sachs Group Inc. and U.S. Senator Carl Levin fired opening shots ahead of a congressional hearing this week, releasing conflicting evidence of the investment bank’s tactics during the mortgage market’s collapse.
Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein and other employees hired attorneys this year when the U.S. began a probe of matters raised by the Senate’s Permanent Subcommittee on Investigations.