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UK backs jail for ‘reckless’ bankers

George Osborne

U.K. Chancellor of the Exchequer George Osborne backed tougher rules for the banking industry, including legislation to jail reckless bankers and giving regulators the power to defer bonuses for as long as 10 years.

Corzine - no criminal charges

Jon Corzine

Jon Corzine will not be cuffed over MF Global’s improper handling of customers’ funds leading up to the commodity brokerage firm’s spectacular collapse in late 2011, The New York Post has learned.

Hedge fund sues treasury over Fannie, Freddie


A large hedge fund that invested in shares of the government-sponsored mortgage companies Fannie Mae and Freddie Mac has sued the U.S. Treasury Secretary, and the head of the Federal Housing Finance Agency, along with the agencies themselves, arguing that their attempts to wind down the companies violate a Congressional mandate.