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Sen. Warren demands to know why criminal bankers aren’t being locked up

In a letter (PDF) sent to Federal Reserve Chairman Ben Bernanke, Attorney General Eric Holder and SEC Chair Mary Jo White on Tuesday, Sen. Elizabeth Warren (D-MA) demanded to know why the government keeps accepting financial settlements from criminal bankers when they could instead be taken to trial, convicted and…

IMF chief says world back from financial ‘abyss’

IMF chief Christine Lagarde said Tuesday the global economy has moved back from the “abyss” but that there are still serious weakness in the world financial system. Lagarde, visiting New Delhi for a two-day trip to attend a conference and meet leaders, said the world financial situation is not as grave as at…

Fed to embrace global banking rules: report

The US Federal Reserve is expected to embrace a new global framework that requires giant financial institutions to hold extra capital, The Wall Street Journal reported Monday. Citing unnamed people familiar with the situation, the newspaper said the Fed’s decision to accept the rules laid out by regulators in Basel,…

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