Helene Rey made a side trip on her way to the hospital to give birth to her daughter in September 2006: She stopped off at the main office of London Business School, where she teaches economics, to turn in a report on a doctoral defense.
European Union lawmakers may introduce tougher curbs on banker pay, including a limit on the gap between lenders’ highest and lowest salaries, as part of an overhaul of financial regulation later this year.
Mark Calabria at the Cato Institute usually isn’t shy about criticizing Timothy F. Geithner. Yet he says it was ultimately up to the British to deal with the manipulation of Libor, as only three of the 18 banks that set the London interbank offered rate are based in the U.S.
The trial of Jerome Kerviel , beginning more than two years after Societe Generale SA accused him of losing 4.9 billion euros ($5.8 billion) on unauthorized market bets, may turn on whether the trader can show the bank knew what he was doing.
European Union financial supervision proposals will call for the European Central Bank to oversee all euro-area banks to prevent lenders from pitting one regulator against another, according to a document obtained by Bloomberg News.
National regulators may be given “emergency powers” to “prohibit or restrict” naked credit- default swaps trades, under proposals being considered by the European Union in the wake of the region’s debt crisis.