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Madoff Offers To Spill The Beans On Big Banks

Bernie Madoff Still

Jailed Ponzi schemer Bernard Madoff plans to amplify his contention, possibly in testimony before Congress, that the big banks he did business with – J.P. Morgan Chase, Bank of New York Mellon, Citigroup and HSBC Group, among others – knew what he was up to.

UK Banks Need to Raise $38 Billion: Bank of England

Bank Of England Logo

U.K. banks will be need to raise an extra 25 billion pounds ($38 billion), the Bank of England's Financial Policy Committee (FPC) said on Wednesday, detailing the capital shortfall facing the country's financial institutions.