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 ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...

Trending

Googleplus