Senate investigation finds JP Morgan hid mistakes as trade losses grew
By Heidi Moore | The Guardian JP Morgan’s $6.2bn London Whale trading debacle was born out of secretive trades and creative bookkeeping as the bank attempted to limit losses using a practice that one regulator called “make believe voodoo magic”, a Senate investigation has concluded. The report by the Senate subcommittee on investigations, published on Thursday, detailed [...]
Read More →New US Spy Chief As Senate Approves Brennan
RiaN The US Senate on Thursday confirmed John Brennan as America’s next spy chief following days of contentious debate over drone strikes and the federal government’s ability to kill its own citizens in counterterrorism operations on US soil. Brennan, who had served as US President Barack Obama’s top counterterrorism adviser prior to his nomination, was [...]
Read More →Fiscal cliff-diving: US Senate approves last-minute deal
RT The deadline for the ‘fiscal cliff’ has passed in the US, with senators approving a bill to soften the impending tax hikes and spending cuts. Economists warn the austerity measures could send the US back into recession if lawmakers do not act. The stopgap bill will now be presented to the House of Representatives, [...]
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