Former Jefferies & Co. Managing Director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.
California Governor Jerry Brown, who decries a widening gulf between rich and poor, is campaigning for a fourth and final term presiding over a state that’s outpacing the U.S. in producing both millionaires and food-stamp recipients.
Bernard Winograd, a retired Prudential Financial Inc. executive who earlier helped devise the initial public offering for luxury-mall developer Taubman Centers Inc. in 1992, a milestone in the growth of real estate investment trusts, has died. He was 63.
The outstanding amount of zero- coupon U.S. Treasury notes and bonds rose to the highest level in 14 years last month as buyers seek to lock in higher returns with interest rates falling and stocks close to record highs.