Lawmakers will hear about the influence big banks can have over the U.S. power markets when they can own plants, supply fuel to those units and trade based on the electricity they generate.
Credit Suisse’s CEO is hitting back at a Senate panel’s claim that the banking giant helped thousands of U.S. customers dodge taxes, saying a 'small group' of the firm’s employees hid their 'bad conduct' from executives and that the panel’s report incorrectly assumed every American client’s account was hidden.
Apparently the unanimous vote in Washington is not extinct.
The Senate said JPMorgan executives misled investor and regulators over the "London Whale" trade. It even raised questions about the conduct of CEO Jamie Dimon.
Wall Street's most prominent critics may be kept off the Senate's banking committee.
Democrats are assured of retaining their U.S. Senate majority after Republicans lost seats in Indiana, Massachusetts and Maine, and Democrats held on to crucial seats in Virginia and Missouri.