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Goldman to open private bank

Jul 17, 2012
In the face of a tough banking market and disappointing earnings, Goldman Sachs announced this week that it will build a private bank -- joining the ranks of UBS and U.S. Trust and others -- that will manage and lend money to very wealthy individuals and companies.
Posted In: banking, Goldman Sachs

HSBC faces hearing for money-laundering lapses

Jul 17, 2012
A congressional watchdog panel will be grilling executives from the British bank HSBC about -- get this -- money laundering, drugs and terrorist financing.
Posted In: banking, HSBC

The question of adequate financial regulations

Jul 10, 2012
News this morning that Bob Diamond, the former head of Barclay's bank has given up $30 million in bonuses after resigning over that interest rate rigging scandal. And the scandal has brought up the issue -- yet again -- of whether current regulations on the financial industry are adequate.
Posted In: banking, bank regulations, Bob Diamond, interest rates

British Parliament investigating London's financial center

Jul 6, 2012
The British Parliament has started investigating the ethics of London's financial center. This follows that big scandal involving the British bank Barclays, which was fined a half billion dollars for rigging a key interest rate called LIBOR.
Posted In: banking, London, Barclays

Former Barclays CEO answers questions on LIBOR rate fixing

Jul 4, 2012
Yesterday Bob Diamond resigned as CEO of Barclays Bank, and this hour he's sitting before a Parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Posted In: banking, Barclays, Bob Diamond, Parliament

Newly resigned CEO of Barclays questioned by Parliament

Jul 4, 2012
Today the freshly resigned CEO of Barclays Bank goes before a parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Posted In: Barclays, banking, Bob Diamond, anti-trust

Barclays CEO Bob Diamond steps down

Jul 3, 2012
The CEO of Barclays bank is out. Bob Diamond is leaving amid a scandal over banks colluding to fix the price of one of the most important interest rates in the world.
Posted In: Barclays, banking, resign, London

Barclays CEO, COO step down over LIBOR rate manipulation

Jul 3, 2012
The CEO of Barclays Bank in London's is resigning -- and, just this hour it looks like we can add the COO -- the chief operating officer -- as well. Last week the bank settled with U.S. and European regulators over allegations it manipulated the "Libor" interest rates to its own advantage.
Posted In: banking, Barclays

Heads of Barclays resign after interest rate scandal

Jul 3, 2012
First, it was the chairman of the board said he was leaving his post; now it's the big man, Barclays CEO Bob Diamond who's stepping down effective immediately. The London-based financial services giant is accused of rigging the level of a key interest rate along with nearly two dozen other banks.
Posted In: Barclays, banking, resign, Bob Diamond

Barclays agrees to $450 million settlement over rate manipulation

Jun 27, 2012
Barclays Bank, based in London, is paying $450 million to settle securities investigations in the U.S. and the U.K. Regulators accused the bank of manipulating a critical interest rate -- the so-called "Libor" rate -- to its own advantage.
Posted In: Barclays, banking, securities