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Regulators Subpoena 7 banks

New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen are jointly investigating and have requested information from JP Morgan Chase, Barclays, Royal Bank of Scotland, HSBC. UBS, Deutsche Bank and Citigroup were also named in the report by Bloomberg. In the UK the Serious Fraud Office has said it will investigate “a number […]

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US Cities May Have Been Gamed in Libor Scandal

In the two decades before the 2008 financial collapse, the investment banking industry sidled up to state and local finance officials with an offer they couldn’t refuse. Instead of issuing plain vanilla 30-year fixed-rate bonds to build roads, schools and parking garages, why not sell variable rate bonds at lower rates and buy a swap […]

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