3044
US Banks Warned
World Economy

US Banks Warned

The Fed official overseeing Wall Street says things need to change, and if the industry’s risky culture isn’t turned around, it may be time to break up the big banks. William Dudley’s proposal would overhaul the way bonuses are paid out to executives, CNN reported. Dudley, president of the New York Federal Reserve Bank, laid out his ideas at a workshop involving officials from Wall Street’s largest banks, plus federal regulators. Representatives from the likes of JPMorgan Chase, Morgan Stanley,Goldman Sachs, Barclays and Bank of America were listed as participants. If “bad behavior” continues, the banks would “need to be dramatically downsized and simplified,” he warned them.

Short URL : http://goo.gl/AQpkwQ

You can also read ...

South Korea Economy Facing Downside Risks
The South Korean economy will face some downside risks going...
Marlo Draghi (L) and Janet Yellen at the Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming on January 7.
Stock markets have spent the year rising on bets of a...
The authorities—the government, the central bank, supported by the state-owned banks—are now pulling all levers  to keep this mounting debt under control.
Corporate debt in China has soared to $18 trillion, or 169% of...
Diesel Emissions Scandal a Risk to German Economy
The emissions scandal ensnaring German carmakers is a risk to...
Deals outside Turkey are much cheaper and better  than Turkish opportunities.
Robert Yuksel Yildirim had barely been at the family’s...
The London Metal Exchange
World stocks struggled at a 5-1/2-week low on Monday, though...
Madura Says Will Tackle Inflation
The Venezuelan government’s toughest challenge is fighting...
Greek Current A/C Surplus Shrinks
Greece’s current account surplus shrank in June compared to...

Trending

Googleplus