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U.S. fines Bank of America for firing whistleblower

NEW YORK — US authorities on Wednesday ordered Bank of America to pay $930,0000 to an employee who was fired after exposing fraud at the bank’s disgraced mortgage unit, Countrywide Financial. The US Labor Department said in a statement that the employee was illegally fired after he led “internal investigations…

Iceland charges European states with ‘bullying’

REYKJAVIK (Reuters) – Iceland’s president accused European countries on Sunday of having bullied it into agreeing to guarantee repayment of the debts of a failed bank, reviving a dispute with Britain and the Netherlands whose citizens are owed billions. When Iceland’s banking sector collapsed in the 2008 global financial crisis,…

S&P president steps down after US ratings downgrade

Standard & Poor’s president Deven Sharma is stepping down, its parent company announced, just weeks after the credit rating agency cut the US’ top AAA rating and sent global markets into turmoil. Sharma, who will take another role in the company before leaving altogether at the end of the year,…

Bloomberg: Congress members ‘can’t read,’ ‘don’t have passports,’ may start trade war

New York City Mayor Michael Bloomberg has set his sights on what he — and many others — see as the provincial, insular nature of American politics, and he has unkind words for the country’s current crop of legislators. In an interview with the Wall Street Journal carried out during…

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