The central bank argues that if it is to act as the lender of last resort to
the securities firms, it should keep a closer eye on their financial condition.
Last week its staff were in Goldman Sachs, Morgan Stanley, Merrill Lynch and
Lehman Brothers’ offices to look at their lending and trading policies plus
their levels of capital.
The Fed‘s visits
follow hot on the heels of US Treasury Secretary, Henry Paulson’s proposals that
the central bank become the financial industry’s ‘risk czar’.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements