U.S. financial regulators, taking a landmark step in the five-year effort to rein in Wall Street, decided to curb some types of trading while largely freeing chief executives from personal responsibility in the final version of the Volcker rule.
Five U.S. agencies will finish the Volcker rule tomorrow after more than three years of Wall Street resistance to its limits on trading and investing. Lawmakers and their allies who want to rein in big banks are ready to pounce if it isn’t strict enough.
Timothy Geithner, the former U.S. Treasury secretary who supervised government bailouts of some of the largest companies after the 2008 financial crisis, agreed to join private-equity firm Warburg Pincus LLC after more than 25 years in public service.
Former U.S. Treasury Secretary Timothy Geithner is joining private-equity firm Warburg Pincus LLC after a quarter-century career in public service that was capped by his oversight of financial crisis rescues of Wall Street banks and General Motors Corp.
Hedge-fund managers including David Tepper, Ray Dalio and Daniel Loeb will help raise $5 million to fight poverty in New York by sharing some of their best trading ideas with attendees of the Robin Hood Foundation’s inaugural investors conference, said the charity’s executive director.
As White House, Federal Reserve and Treasury Department staff prepare Janet Yellen to face the U.S. Senate for her nomination as the next Federal Reserve chairman, one experience remains seared in their memories: Ben S. Bernanke’s close call in 2010.
Former Treasury Secretary Timothy Geithner joined the Federal Reserve Bank of New York in declining to give drafts of a book he’s writing to Maurice “Hank” Greenberg for a lawsuit challenging the government’s bailout of American International Group Inc.