Former Federal Reserve Chair Ben Bernanke and two other U.S.-based economists won the Nobel Prize in economics for research into bank failures – work that built on lessons learned in the Great Depression and helped shape America’s aggressive response to the 2007-2008 financial crisis.
In its latest emergency action, the Federal Reserve is establishing a lending facility to try to ease the flow of short-term credit to banks and businesses as the economy grinds to a halt from the viral outbreak.
A former top Goldman Sachs executive tapped to oversee economic development policy in Connecticut and lauded by Gov. Ned Lamont for his caliber of financial and investment experience finds himself answering a lot of questions about his role in the mortgage meltdown of 2007-08.
The U.S. Supreme Court on Monday handed a defeat to former American International Group Inc. CEO Maurice “Hank” Greenberg, refusing to hear an appeal he led arguing that the federal government illegally bailed out the insurer during the 2008 financial crisis at the expense of shareholders.
As a senior vice president at Wachovia and then Morgan Stanley during the dark months of the 2008 and 2009 financial crisis, Derek Peterson watched as colleagues lost their jobs and life savings and wondered if he was next.
Barclays is facing 21 regulatory investigations and civil actions mainly in the United States and Britain, its 2016 annual report showed. These include major probes by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).