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Banking & Finance

The latest coverage of the banking and financial sectors.

Argentina's economy minister, Axel Kicillof, speaks to the media after leaving negotiations aimed at avoiding his country's second default in 13 years, Tuesday, July 29, 2014, in New York. U.S. District Judge Thomas P. Griesa last week ordered round-the-clock negotiations to avert a Wednesday default deadline. But talks have been sporadic and have failed to bring representatives of Argentina to the table with lawyers for U.S. hedge funds. (AP Photo/John Minchillo)

Judge rules Argentina in contempt of court order

By Cheryl K. Chumley - The Washington Times

A judge has ruled that Argentina failed to pay U.S. bondholders their just due, cheating them out of about $1.5 billion in the last year or so. Published September 30, 2014

Recent Stories

FILE - This Sept. 18, 2013 file photo shows the Federal Reserve headquarters in Washington. Minutes of the Fed's discussion at its July 29-30, 2014 meeting show that some officials thought the economy was improving enough that the Fed would need "to call for a relatively prompt move" toward reducing the support it has been providing. Otherwise, they felt the Fed risked overshooting its targets for unemployment and inflation. (AP Photo/J. David Ake, File)

Fed's Lockhart says inflation risk still low

- Associated Press

Atlanta Federal Reserve President Dennis Lockhart still sees no danger of inflation and says the current unemployment rate is "still some distance" from full employment, a sign he's not seeking an increase in interest rates until mid-2016 or later.

Texas Gov. Rick Perry stumps for Kansas Gov. Sam Brownback, left, during a campaign rally for Brownback on Wednesday, Sept. 24, 2014 in Wichita, Kan. Brownback is facing a tough reelection campaign against democrat Paul Davis. (AP Photo/The Wichita Eagle, Travis Heying)

Audit finds problems in Perry's deal-closing fund

- Associated Press

A pet program of Republican Texas Gov. Rick Perry that has given a half-billion dollars in taxpayer funds to companies including Toyota and Facebook failed to support claims about job creation and competition from other states, according to a state audit released Thursday.

Associated press
General Motors posted a $9.6 billion fourth-quarter loss and said Thursday that it burned through $6.2 billion in the last three months of 2008 as it fought the worst U.S. auto sales climate since 1982 and sought government loans to keep the company running.

Second-chance loans making comeback: should we be worried?

- Deseret News

Subprime lending is back. This time for auto loans. The question is whether or not subprime lending to borrowers with poor credit will lead to another financial bubble bursting and Round 2 of the 2008 recession. What does this mean for you?

Ex-firm exec pleads guilty in insider trading case

Associated Press

A former executive at a New York investor firm whose effort to dodge photographers earned him a mocking "Moment of Zen" on Jon Stewart's "The Daily Show" has pleaded guilty to an insider trading charge.

FILE - In this file photo taken Monday, July 7, 2014, masked militants march with guns as they attend the funeral of the two Fatah militants, Marwan Sleem and Mazin Al-Jarba, who were killed by an Israeli airstrike, in Bureij refugee camp, central Gaza Strip. In the grisly math of the Israel-Hamas war, conflicting counts of combatants and civilians killed in Gaza are emerging - with the ratio perhaps more important to shaping international opinion of the monthlong conflict than any final toll. U.N. researchers and local rights groups say three-fourth of some 1,900 dead were civilians, while the Israeli military estimates the split is closer to 50-50. Those doing the tallies use different methods and standards to make that all important determination of who is a civilian. (AP Photo/Khalil Hamra, File)

Jury: Arab Bank liable in terror attacks

Associated Press

A U.S. jury has decided that a large Jordan-based bank was liable in a wave of suicide bombings in the early 2000s that left several Americans dead or wounded.

Alibaba poised to surge on the NYSE

- Associated Press

Alibaba's stock is surging as the Chinese e-commerce powerhouse begins its first day trading as a public company.

Recent Opinion Columns

Illustration on selling Freddie Mac and Fannie Mae by Alexander Hunter/The Washington Times

Sell Fannie and Freddie, don't kill them

It's time for the U.S. government to sell its ownership stake in Fannie Mae and Freddie Mac, the two giant mortgage funders, and let them sink or swim by themselves.