More than five months ago, the Federal Reserve and Office of the Comptroller of the Currency told some of the biggest banks to improve underwriting standards for non-investment-grade loans. The market is showing few signs of tightening as lenders chase lucrative fees.
Gerald J. Ford has something he wants to show off. He jumps into a golf cart and races toward one of the 11 barns on his lush, 1,000-acre Kentucky thoroughbred farm. He speeds past tall sycamore trees, painted lawn jockeys and manicured fields of grass glistening from the May morning dew.
Penn State University is adding men’s and women’s ice hockey as varsity sports with an $88 million gift from alumnus Terry Pegula , who just sold his natural-gas firm to Royal Dutch Shell PLC for $4.9 billion.
Second Mile, the foundation for needy children started by former Penn State University assistant football coach Jerry Sandusky, may not survive the scandal over charges that he molested eight boys, the charity’s vice chairman said.