Moody’s Lowers Ratings of Four U.S. Banks After Review

Moody’s Investors Service cut its ratings on four of the biggest U.S. banks after deciding the government would be less likely to help them repay creditors in a crisis. Morgan Stanley (MS), Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM) andBank of New York Mellon Corp. had their senior holding company ratings lowered one level yesterday after […]

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How the Bank Lobby Loosened U.S. Reins on Derivatives

“One by one, Gary Gensler’s supporters deserted him. Now the chief U.S. regulator of derivatives was being summoned by Treasury Secretary Jacob J. Lew to explain why he refused to compromise. Banks and lawmakers, as well as financial regulators from around the world, had besieged Lew with complaints about Gensler’s campaign to impose U.S. rules […]

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Currency Spikes at 4 P.M. in London Provide Rigging Clues

“In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Within an hour, two-thirds of that gain had melted away. The same pattern — a sudden surge minutes before 4 p.m. in London on […]

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Fed Finds 18 Large Banks Weak in at Least One Capital Area

“Five years after one of the most costly financial crises in U.S. history, the 18 largest banks still fall short in at least one of five areas critical to risk management and capital planning, the Federal Reserve said. While many banking companies have improved capital planning techniques and raised capital levels, “there is still considerable […]

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Wall Street's big SAC Capital problem

“The Wall Street firms that do business with SAC Capital are right to be privately worried about possible legal contamination from the criminal indictment against the hedge fund. Publicly, Wall Street is standing behind SAC Capital. It’s “business as usual,”according to reports. Gary Cohn of Goldman Sachs recently praised SAC as “a great counter party” in an interview […]

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