Daily News Channel
The French trader accused of a multi-billion-dollar fraud at banking giant Societe Generale will go on trial next year, a lawyer for the bank said Tuesday. Jerome Kerviel will face charges including forgery, breach of trust, and introducing fraudulent data into the bank’s data system, Societe Generale lawyer Jean Veil told CNN. He faces a penalty of up to five years in prison and a fine of up to €375,000 euros ($538,000), Veil said
He has been captured by bank surveillance cameras in eight states, sneering and holding a pistol sideways during heists. Now authorities hope to catch the serial bank robber by plastering his image on electronic billboards throughout the South.
Federal authorities are searching for a man who has at least eight guns registered to him and has threatened to kill President Obama. The man, identified as Daniel James Murray, is charged with making threats against the president of the United States. He recently withdrew $85,000 from a Utah bank and told a teller: “We are on a mission to kill the president of the United States,” according to court papers.
Coercion and the use of force have been part of the American character since settlers started moving West at the end of the 18th Century.
Is your bank broke? Probably not.
Citigroup chief financial officer Ned Kelly was trying to explain an aspect of the bank’s better-than-expected first-quarter results on Friday morning when star analyst Meredith Whitney interrupted him. “Could you dumb that down for me?” she asked. It was the question of the week.
Megan Cavallari looks up from her stack of hundreds of faxes and documents, proof of her efforts to try to save her home from foreclosure. She’s been on hold for over an hour, trying to get details for a loan modification
Secretary of State Hillary Clinton reached an important milestone Wednesday in her quest to pay the debt from her failed 2008 presidential bid: For the first time in eight months, her campaign committee reported having more money in the bank than it owes.
British banking giant RBS has revealed it expects to make more job cuts and that former chief executive Fred Goodwin is considering taking a voluntary cut in his pension. New chairman Philip Hampton Friday made a strong apology for the bank’s mistakes, which lead to a UK record loss of £24.1 billion ($34.6 billion) for 2008.
A federal immigration judge says President Obama’s aunt, who has stayed in the United States illegally for years, will be allowed to remain in the country until at least next year. U.S. President Barack Obama and British Prime Minister Gordon Brown said that delegates at the London summit needed to act with urgency and in unison to address the financial crisis.