As many as 26 financial firms could be forced to hold extra capital to avoid collapses that would threaten global financial stability, according to a participant at a meeting of the Financial Stability Board last week.
Banks aiming to comply with a new ban on proprietary trading are struggling to determine which of their products will remain legal and which must be eliminated, the head of Wall Street’s biggest lobby group said today.
Bill Clinton said President Barack Obama deserves re-election because he contained the economic crisis and put the nation on a path to recovery, casting the 2012 election as a choice between “shared opportunities and shared responsibility” and a “winner-take-all, you’re-on-your- own society.”
Judd Gregg, the former U.S. senator who has been an adviser to Goldman Sachs Group Inc., was named chief executive officer of the Securities Industry and Financial Markets Association, Wall Street’s largest lobby group.
Computer hackers who target U.S. agencies and companies on behalf of countries such as China and Russia would be denied entry into the U.S. and have their bank accounts frozen under legislation to be unveiled today.
Democratic U.S. Representative Tim Ryan’s district includes Youngstown and part of Akron, two Ohio cities once dominated by steel and rubber mills. He’s concerned that Washington’s debt-ceiling deal will hurt an economy that’s already struggling.