national-global

Morning Scan: Geithner Takes the Stand in AIG Case; The Odd Rules for Puerto Rico Notes

10/08/14

Receiving Wide Coverage ... Geithner's Turn: Most papers weighed in with coverage of Timothy Geithner's testimony on Tuesday, from Maurice "Hank" Greenberg's lawsuit challenging the federal bailout of AIG. Geithner spent six hours in a federal court witness box, so there was plenty of material to choose from. In one exchange, Greenberg's lawyer, David Boies, asked Geithner why he hung up before the end of a conference call on Sept. 16, 2008, during the Fed boardÂ...

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Morning Scan: Other Banks Targeted by JPMorgan Hackers; Holder's Last Hurrah?

10/07/14

Receiving Wide Coverage ...

Hacked Off: More details about the JPMorgan Chase cyberattack were leaked, although it's somewhat alarming how many unanswered questions remain. Anonymice told the Journal hackers tried to breach the data systems of other banks or financial institutions but were unsuccessful. It's unclear what, exactly, the hackers were trying to do. Bill Nelson of the Financial Services Information Sharing and Analysis Center, said, "It is like the equivalent of a robber walking around...

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Morning Scan: 'Hours' of Questioning on AIG Bailout; New Bond Market

10/06/14

Wall Street Journal

If Ben Bernanke was miffed at his home refinance application being denied, he should be in a really bad mood after what's coming next. Bernanke, former Treasury Secretary Henry Paulson and former New York Fed President Tim Geithner "each will field hours of questions" in the lawsuit filed by former AIG CEO Maurice "Hank" Greenberg challenging the terms of the 2008 bailout of AIG. Greenberg's lawsuit alleges the government cheated shareholders out of...

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Morning Scan: JPMorgan Joins the Mega Breach Club; Bernanke's Refi Denied

10/03/14

Receiving Wide Coverage ...

Hack Attack at JPMorgan: JPMorgan Chase is the newest member of the mega breach club. The bank disclosed in a Thursday regulatory filing that hackers stole the names, email addresses, phone numbers and mailing addresses of 76 million households and seven million small business customers this summer. JPMorgan is assuring customers that it has seen "no unusual fraud activity related to this incident" and says "there is no evidence" that hackers were...

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Morning Scan: BofA CEO Moynihan Named Chair; Dark Days for GSE Shareholders

10/02/14

Receiving Wide Coverage ...

Moynihan's Next Move: Bank of America chief executive Brian Moynihan received a vote of confidence from the bank's board of directors Wednesday as he was appointed to the additional role of chairman. The roles had been split at Bank of America since 2009, when then-head Ken Lewis was stripped of his chairman title. Chad Holliday, who Moynihan succeeds as chairman, will remain on the board. The Financial Times focuses the potential downside...

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Morning Scan: eBay Loves PayPal, Sets It Free; Wall Street's Gender Gap

10/01/14

Receiving Wide Coverage ...

If You Love PayPal, Set It Free: The split between eBay and PayPal appears to be the celebrity breakup of the business world, prompting excited speculation and in-depth analysis. eBay says the payments landscape has changed significantly in recent months and that the companies' parting of ways will "free PayPal to more easily reach agreements with companies that compete with eBay's online marketplace," thereby eliminating potential conflicts of interest, the Wall Street...

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Morning Scan: eBay and PayPal to Split; Assessing Holder's Legacy

09/30/14

Breaking News This Morning ...

eBay and PayPal to Split: The online marketplace said this morning it would spin off its payments unit, a move activist investor Carl Icahn had been pushing. Wall Street Journal, New York Times Receiving Wide Coverage ...

AIG and the Meaning of 'Many': A lawsuit that accuses the U.S. government of unfairly penalizing AIG shareholders in the terms of its 2008 bailout of the insurer got underway Monday. David Boies, a lawyer for...

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Morning Scan: AIG Bailout on Trial; Goldman's New Conflict of Interest Rules

09/29/14

Receiving Wide Coverage ...

See You in Court: A lawsuit alleging that shareholders got a raw deal in the $184 billion government bailout of AIG goes to trial today, and pundits are abuzz with expectation Â-- but not because they think the central claim holds particular merit. In two separate columns in the New York Times, Gretchen Morgenson and Noam Scheiber shed no tears for AIG shareholders, including the insurer's former chief executive Maurice "Hank" Greenberg....

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Morning Scan: Secret New York Fed Recordings Released; U.S. Bank Fined

09/26/14

Receiving Wide Coverage....

Secret Fed Tapes: Here's all you need to pique your interest: It's the "Ray Rice video for the financial sector," according to none other than Michael Lewis, columnist and author of "The Big Short." A former New York Fed bank examiner secretly took a key-chain voice recorder into 47 hours of Fed meetings, recorded what she heard and gave the recordings to a reporter at ProPublica, which later distributed the recordings to National...

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Morning Scan: Home Depot Lawsuits Roll In; RBS IPO Rebounds

09/25/14

Receiving Wide Coverage... Here Come the Lawyers: What did you expect, Home Depot would get a free pass from lawyers on its massive data breach? The floodgates have opened as the first of what could be many lawsuits filed against Home Depot after 56 million credit and debit cards were compromised. In federal court in Atlanta, two credit unions Â-- Southern Chautauqua Federal Credit Union in New York and First Choice Federal Credit Union in PennsylvaniaÂ...

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