3xwy Blog

Reuters – Greek Prime Minister George Papandreou on Monday urged the Group of 20 nations to crack down on market speculators, warning that failing to do so could trigger another global financial crisis.

AP – Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.

AP – Regulators shut down banks in Nevada and Washington on Friday, marking the 21st and 22nd failures this year of federally insured banks.

AP – Citigroup Inc. CEO Vikram Pandit received $128,751 in total compensation for 2009 as the bank suffered big losses on risky investments and failing consumer loans, according to an Associated Press analysis of a regulatory filing.

AP – The International Monetary Fund has decided to restore Zimbabwe’s voting rights after a seven-year suspension over failure to pay $1.3 billion it owes the organization and other creditors.

AP – Regulators have shut down a small bank in Minnesota, bringing to 16 the number of bank failures in the U.S. so far in 2010 following the 140 brought down last year by rising loan defaults and the recession.

AP – Regulators shut down a big bank in California on Friday, along with two banks in Georgia and one each in Florida, Minnesota and Washington. That brought to 15 the number of bank failures so far in 2010 atop the 140 shuttered last year in the punishing economic climate.

AP – Regulators shut down banks in Florida, Missouri and New Mexico on Friday, bringing to six the number of bank failures so far in 2010, following 140 closures last year in the toughest economic environment since the Great Depression.

AP – Two Senate Republicans say they want the Treasury Department to explain why it gave a “blank check” to Fannie Mae and Freddie Mac by removing the $400 billion cap on how much money it would give the mortgage giants to keep them from failing.

Reuters – The U.S. Securities and Exchange Commission is seeking to charge Bank of America with failing to disclose extraordinary financial losses at Merrill Lynch prior to a shareholder vote on the merger between the two companies.