Blog Archives

US Admiral Named New NSA Chief: Hagel

Posted in Finance

JPMorgan’s Dimon Said to Relinquish Chairman Title at Bank Unit

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon stepped down as chairman of the lender’s main bank subsidiary at the start of July, according to a person briefed on the move.

Posted in Finance

Treasury: US Default Impact May Last More Than a Generation

A U.S. government default caused by Congress failing to raise the $16.7 trillion federal debt limit could have catastrophic consequences that might last decades, the Treasury Department said in a report.

Posted in Finance

Dudley Says Fiscal Debate Among Risks to Economic Outlook

Federal Reserve Bank of New York President William C. Dudley said budget battles in Washington are among the risks to the outlook and he wants to see more momentum in the economy before paring the pace of the central bank’s bond buying.

Posted in Finance

Federal Housing Administration to Tap $1.7B in Taxpayer Funds to Cover Losses

A federal housing agency said Friday it needs a $1.7 billion bailout from the Treasury to cover projected losses in a mortgage programs for seniors.

Posted in Finance

Fed’s Evans: ‘Decent Chance’ We Can Start Tapering This Year

There is a decent chance the Federal Reserve can start to wind down its monetary stimulus this year but there are risks which could push that process into next year, a senior Fed official said.

Posted in Finance

Fed’s Rosengren: ‘Overdue’ Money-Fund Rules Needed for Stability

Federal Reserve Bank of Boston President Eric Rosengren said tougher oversight of money-market mutual funds is “overdue” and called on the U.S. Securities and Exchange Commission to adopt rules that curb risks to the financial system.

Posted in Finance

Blackstone’s Schwarzman: Fed Easing Losing Effectiveness

Stephen Schwarzman, chief executive officer of Blackstone Group LP, said the unprecedented asset purchases by the U.S. Federal Reserve are losing their potency with each round and it’s time to scale them back.

Posted in Finance

Stephen Roach: QE Is Really Only Helping the Wealthy

The wealthy are the ones who are mainly benefitting from the Federal Reserve’s quantitative easing (QE) program, alleges Stephen Roach, former chairman of Morgan Stanley Asia and the firm’s chief economist, in an article for Project Syndicate.

Posted in Finance

AIG’s Benmosche: Bonus Outrage Like Southern Lynchings

Outrage over AIG employee bonuses is akin to lynchings in the South, CEO Robert Benmosche, explains to The Wall Street Journal.

Posted in Finance