The next Treasury secretary of the United States will be a long-time close confidante of President Obama, a man described as a “Washington insider” and veteran of the financial industry adept at cutting backroom deals, and an economic disciple of the men and ideologies that many blame for the deregulation of the nation;s financial markets [...]
Days after systematic rate-fixing of the London exchange responsible for setting most of the world’s lending rates was uncovered at Barclays, leading to the resignation of that bank’s top executives, the scope of the “Libor” — “London interbank offered rate” — scandal has spread to more banks and could generate criminal charges on both sides [...]
President Obama’s ”pivot” to jobs took center stage on Monday, as a major move was announced in the president’s economic team that could have far-reaching consequences for the economy. Princeton economist Alan Krueger was selected by the president to lead the White House Council of Economic Advisers and become Obama’s chief aide on the economy [...]
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