Financial Crisis, Financial Industry | featured news

Investments that were vulnerable in the last financial crisis and believed to be gone for good have largely escaped new rules that were made to prevent another crisis.

Punishing the bankers who brought on the financial crisis has proved distressingly difficult. None have gone to jail. A few young traders, who hid their post-crash losses and thereby stole from the banks, are behind bars. The rest are untouched by the tragedy.

Next year, $1.5 trillion of bank deposits will lose an unlimited government guarantee granted during the financial crisis, and boutique firms are offering new shelters for the cash.

Since the financial crisis Citigroup has managed to firm up its balance sheet and fence off most of the toxic assets that brought the bank to its knees. Some shareholders want the firm to go further though, and the latest call for a breakup comes from an unlikely source.

...The boom in resource markets that started 10 years ago attracted many big banks to trade oil, metals and agriculture, but the 2008 financial crisis forced a painful retreat and tighter regulation now means some banks may throw in the towel.

UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for investment banks to turn a profit since the financial crisis.

Americans can expect to see tangible results this fall from the task force President Obama created to investigate the financial crisis, New York State Attorney General Eric Schneiderman told TPM Thursday.

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs—increasingly at the expense of jobs.

A Senate investigation into the financial crisis has found that Goldman Sachs, the storied Wall Street investment bank, sought to profit from the historic decline in housing prices by betting against the US mortgage market.