U.S. banks’ ownership and trading of physical commodities will face further scrutiny tomorrow when the heads of the CFTC and SEC testify before lawmakers.
U.S. Treasury Secretary Timothy F. Geithner said today that the nation’s economy is “regaining strength” and that the recovery “will depend in part on events beyond our shores.”
The U.S. Treasury Department and regulators will move one step closer tomorrow to designating some companies as posing a risk to the country’s financial system in the event of their failure.
The largest U.S. banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., told the Federal Reserve that a limit on their credit exposure is unnecessary and “fundamentally flawed.”
The Office of Comptroller of the Currency said today that it is examining JPMorgan Chase & Co.’s activities and evaluating their transactions following a $2 billion loss
