The Justice Department’s $13 billion mortgage securities settlement with JPMorgan Chase & Co. is a record and also a rarity -- Attorney General Eric Holder’s first big win against a bank at the heart of 2008’s financial crisis.
Federal Reserve policy makers have publicly debated whether to maintain their bond-buying pace since well before Janet Yellen was named last month to succeed Chairman Ben S. Bernanke. One voice has been missing: Yellen’s.
The longer the Federal Reserve continues its bond-buying stimulus, the higher the odds it will face a year without any money to give the U.S. Treasury after taxpayers received a record $88.4 billion profit in 2012.
Bill de Blasio, who built his underdog campaign for New York mayor on promises to restrain police stop-and-frisk tactics and reduce income inequality, won in a landslide, putting a Democrat in charge of City Hall for the first time in 20 years.
New York City Public Advocate Bill de Blasio won the most votes in the Democratic mayoral primary, after campaigning against the police department’s stop-and-frisk tactics and what he said were Mayor Michael Bloomberg’s policies favoring the rich.
Federal Reserve Chairman Ben S. Bernanke will leave behind an economy poised to record its biggest advance in almost a decade when he makes his anticipated departure from the central bank early next year.
The tax break for repatriating overseas profits sought by Cisco Systems Inc., Google Inc. and other U.S.-based multinational companies would raise $8.7 billion for the federal government over the next decade, according to an estimate by two economists.