Washington Editor in Charge, Company News, Washington, D.C.
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Oct 3, 2012

After five-year push, is it RIP for commodity limits?

WASHINGTON/NEW YORK (Reuters) – Federal limits on commodity market speculation, the prospect of which has haunted Wall Street’s big banks, pension funds and energy merchants for five years, may have died in the District of Columbia courts on Friday.

Just two weeks before the “position limits” rule was to take effect, U.S. District Judge Robert Wilkins rejected it and sent it back for an overhaul, a move that even some opponents said was surprisingly tough.

Oct 1, 2012

Analysis: After five-year push, is it RIP for commodity limits?

WASHINGTON/NEW YORK (Reuters) – Federal limits on commodity market speculation, the prospect of which has haunted Wall Street’s big banks, pension funds and energy merchants for five years, may have died in the District of Columbia courts on Friday.

Just two weeks before the “position limits” rule was to take effect, U.S. District Judge Robert Wilkins rejected it and sent it back for an overhaul, a move that even some opponents said was surprisingly tough.

Jun 14, 2012

Bair decries hyperventilation over JPMorgan loss

WASHINGTON, June 14 (Reuters) – Sheila Bair, the former
regulator who helped steer the U.S. financial system through the
recent credit crisis, said JPMorgan Chase & Co’s
multibillion-dollar trading loss needs to be put in perspective.

Bair told Reuters TV on Thursday that regulators need to
accept blame for not catching the trading debacle and said it
shows that some banks are too big to manage.

May 11, 2012

Is JPMorgan “too big to manage”?

WASHINGTON (Reuters) – JPMorgan’s surprising $2 billion trading loss begs a post-financial-crisis question: Are America’s biggest banks simply too big to manage?

Washington policymakers have largely focused on whether banks are “too big to fail” or whether they are so huge and interconnected that their failure would threaten the greater financial system as when Lehman Brothers collapsed in 2008.

Feb 2, 2012

Insiders, rating firms depict MF Global risk hunger

WASHINGTON, Feb 2 (Reuters) – MF Global’s former
chief risk officer told Congress on Thursday that he tried to
warn the firm’s leadership that it was on an unsustainable path,
but was ousted for his efforts.

Michael Roseman, who was edged out in January 2011 from the
now-bankrupt futures brokerage, said he rang alarm bells
internally about the firm’s exposure to European
sovereign debt a year before the firm collapsed in late October
of 2011.

Feb 2, 2012

MF Global risk officer says ousted after warnings

WASHINGTON (Reuters) – The former chief risk officer at MF Global who raised red flags about the firm’s aggressive trading bets told lawmakers that his warnings contributed to the firm’s decision to let him go in early 2011.

Michael Roseman, who was ousted in January 2011 from the now-bankrupt futures brokerage, said he rang alarm bells about the firm’s exposure to European sovereign debt a year before the firm collapsed in late October of 2011.

Nov 22, 2011

Fed to test six big U.S. banks for Euro stress

Nov 22 (Reuters) – The U.S. Federal Reserve plans to stress
test six large U.S. banks against a hypothetical market shock,
including a deterioration of the European debt crisis, as part
of an annual review of bank health.

The Fed said it will publish next year the results of the
tests for six banks that have large trading operations: Bank of
America , Citigroup , Goldman Sachs ,
JPMorgan Chase , Morgan Stanley and Wells Fargo .

Sep 7, 2011

Northrop CEO calls on Washington for regulation

WASHINGTON (Reuters) – Northrop Grumman Corp’s (NOC.N: Quote, Profile, Research, Stock Buzz) chief executive is making a rare request: more regulation from Washington.

Wes Bush said the threat from cyber attacks has become so intense and so wide that it requires a federal solution.

Jul 27, 2011

S&P, Moody’s execs to face congressional heat

WASHINGTON (Reuters) – Executives from U.S. credit rating agencies are expected to face sharp congressional scrutiny on Wednesday for their companies’ roles in the financial crisis and the U.S. debt ceiling debate.

Deven Sharma, president of McGraw-Hill Cos Inc, unit Standard & Poor’s, and Michael Rowan, global managing director for the commercial group at Moody’s Corp’s Moody’s Investors Service, are due to appear before the House Financial Services subcommittee.

Jul 27, 2011

Credit rating execs to face congressional heat

WASHINGTON (Reuters) – Executives from credit rating agencies are expected to face sharp congressional scrutiny on Wednesday for their companies’ roles in the financial crisis and the U.S. debt ceiling debate.

Deven Sharma, president of McGraw-Hill Cos Inc unit Standard & Poor’s, and Michael Rowan, global managing director for the commercial group at Moody’s Corp’s Moody’s Investors Service, are due to appear before the House Financial Services subcommittee.

    • About Karey

      "Karey Wutkowski oversees coverage of the Company News team in Washington, which is responsible for bank regulation, tax issues, securities regulation, drug approvals, weapons contracts, telecom regulation, among other topics. Karey joined Reuters in 2004, combing through Securities and Exchange Commission filings. She became Washington's bank regulation reporter in the lead up to the financial crisis of 2007-2009, and closely covered U.S. policy and Wall Street as the government bailed out the financial system. She holds a bachelor's degree from the University of North Carolina, Chapel Hill, where she majored in journalism and minored in business."
      Joined Reuters:
      2004
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