WASHINGTON, April 26 (Reuters) – Eileen Foster beamed as she
accepted an award at the National Press Club in Washington for
blowing the whistle on mortgage fraud at Countrywide Financial,
but told the crowd she was deeply disappointed.
Foster, who was fired from her position as head of mortgage
fraud investigations for Countrywide after uncovering evidence
of fraud and urging a wider inquiry, said not enough has changed
in the U.S. financial system.
NEW YORK (Reuters) – Federal prosecutors in California are investigating a Goldman Sachs employee for insider trading, according to prosecutors and defence lawyers who attended a hearing in U.S. federal court in New York on Thursday.
The employee is suspected of giving inside information on two public companies to former Galleon Group co-founder Raj Rajaratnam, who was convicted last year in one of the largest insider trading cases in Wall Street history.
NEW YORK (Reuters) – Federal prosecutors in California are investigating a Goldman Sachs employee for insider trading, according to prosecutors and defense lawyers who attended a hearing in U.S. federal court in New York on Thursday.
The employee is suspected to have given inside information on two public companies to former Galleon Group co-founder Raj Rajaratnam, who was convicted last year in one of the largest insider trading cases in Wall Street history.
NEW YORK (Reuters) – U.S. Treasury debt prices rose on Friday, pushing benchmark yields below the key psychological level of 2 percent, as falling stocks and worries over global economic growth fueled appetite for lower-risk assets.
Traders eased back into defensive positions after data on the Chinese economy and rising debt yields in Europe rekindled worries that the world’s economic and financial problems weren’t quite over.
NEW YORK (Reuters) – Treasury debt prices edged lower on Thursday but the main driver for their declines seemed to be the afternoon’s 30-year Treasury bond auction, after which losses in the market faded significantly.
The Treasury sold $13 billion in re-opened 30-year bonds at a high yield that matched the 30-year yield in the open market at the time of the auction.
NEW YORK (Reuters) – Treasury debt prices fell on Wednesday, giving back much of the previous day’s gains as diminished worries over Europe’s fiscally troubled countries and new Treasury supply weighed on the market.
European Central Bank Executive Board member Benoit Coeure helped ease concerns over Europe’s debt crisis by saying the ECB still had its bond-buying program as an option to employ. This helped damp demand for safe-haven U.S. Treasuries.
NEW YORK (Reuters) – U.S. Treasury debt prices rose on Monday, with most gains appearing in the longer maturities on the yield curve, reflecting expectations that last Friday’s disappointing U.S. payrolls report had increased the chances of a third round of easing measures by the Federal Reserve.
Stock futures were pointing to losses for the major indexes, another booster for Treasury prices.
NEW YORK, April 4 (Reuters) – The chief executive of
proprietary trading firm First New York Securities, Joseph
Schenk, is stepping down, a source close to the firm told
Reuters on Wednesday.
Schenk will remain at First New York for three months while
a search for his replacement is conducted. Tom Donino, First New
York’s co-head of domestic equities, will also serve as interim
co-CEO during the search for Schenck’s replacement.
NEW YORK, April 4 (Reuters) – Wall Street firms authorized
to deal directly with the Federal Reserve nudged their
expectations for the Fed’s first interest rate hike further into
the future last month, the Federal Reserve Bank of New York
revealed on Wednesday.
U.S. primary dealers on average saw the highest probability
of the first U.S. interest rate increase in the second half of
2014, according to a March survey conducted by the New York
NEW YORK (Reuters) – The U.S. Federal Reserve earned about $86 billion in income before expenses from its system open market operations (SOMA) in 2011 and remitted about $75 billion of those earnings to the Treasury last year, the New York Fed said on Wednesday.
Fed projections assume its SOMA holdings will remain stable near $2.6 trillion until mid-2013, then will fall steadily over the next four years because of redemptions and asset sales, the New York Fed said in its annual report on operations done on behalf of the U.S. central bank.