Markets Close With Losses Business Highlights US Treasury Secretary Geithner warns over 'light touch tragedy' of UK bank regulation Too Big to Fail Leads Lower Voice the People Tracking Bank Failures Year’s Tally Up 45 Q&A Former UAL Texaco CEO steps in at JP Morgan Bernanke Pitching a Perfect Game Analyst Blog Goldman May Sell Litton Ocwen What Good Will Consumer Financial Protection Bureau Do Hub Greece Banks Fed nomination fight new low partisan politics 7 Unique EcoFriendly Company Transportation Alternatives 24 hours pictures Deals Day Jamie Dimon Losing Lieutenants Comment on Guest Commentary The first casualty climate change Florida Couple Gets Revenge On Of America war Boston Private accuses First Republic having 'roadmap' alleged stolen docume

U.S. markets closed lower Monday, with the Dow Jones industrial average adding a day to a five-week losing streak. The DJIA lost 61.30 points or 0.5 percent to 12, 089.96. Twenty-three of 30 Dow components fell with bank stocks leading the way.... share: digg facebook twitter SAN FRANCISCO (AP) — Apple CEO Steve Jobs briefly emerged from a medical leave Monday to unveil a free service that lets customers share calendar entries, songs and other files among their devices more easily. Jobs received a standing ovation as he appeared at Apple Inc.'s annual developers' conference, his second major public appearance since he went on medical leave in January for unspecified reasons and duration. WASHINGTON (AP) — Nobel Prize-winning economist Peter Diamond is withdrawing his nomination for the Federal Reserve board, expressing frustration with Republicans who had blocked his appointment and questioned his practical experience. Diamond said it would be easy to blame his failed nomination on partisan politics, in an op-ed piece first published on The New York Times website on Sunday and in its print edition on Monday. NEW YORK (AP) — Katie Couric has worked in morning television, the evening news and now — thanks in part to Oprah Winfrey — will try out a daytime talk show. (AP) — Packaging and building materials maker Temple-Inland is rejecting a $3.3 billion unsolicited takeover bid from larger rival International Paper Co., saying the offer is too low ... US Treasury Secretary Timothy Geithner warned Asian countries seeking to take advantage of tightening regulations not to follow the example set by the UK in the run up to the financial crisis. The large major banks are leading the major stock market indexes lower for a fourth consecutive trading session. The government took over its 45th failed U.S. bank this year. Check out The Wall Street Journal's interactive map of collapsed banks. share: digg facebook twitter Former UAL, Texaco CEO steps in at JP Morgan What does an ex-airline and oil executive know about banks? Glenn Tilton, the former chief executive of both United Airlines parent UAL Corp. and oil company Texaco, was named chairman of JPMorgan Chase & Co.'s Midwest business and a member of its executive committee on Monday. [...] Tilton brings with him decades of influence in Washington, strong business ties across the Midwest and a deep understanding of the regulatory process. With banks still under a regulatory microscope over their role in the mortgage mess and the financial crisis, Tilton's experience will come in handy. Some of JPMorgan's businesses remain under investigation by state attorneys general or federal regulators like the Securities and Exchange Commission. How does your experience in the oil and airline business translate into a job as a Midwest banker working for the second-largest U.S. bank? Having just been the CEO of the largest single employer in the city of Chicago, I have worked with businesses here and have the experience of working with governments here. Slinging steady heat down the middle keeps working???and surprising Last week, Financial Times reported that The Goldman Sachs Group Inc. is planning to close down the sale of its mortgage-servicing subsidiary, Litton Loan Servicing to Ocwen Financial Corp. (OCN). The news followed the writing down of mortgage-servicing business worth $200 million by Goldman two months ago. James Surowiecki argues that bankers should welcome the CFPB, Elizabeth Warren's brainchild, as a… Bob O'Brien and Stephen Wisnefski discuss why stocks are moving lower. Plus, Goldman fights back again a Senate report, a new Greek debt plan gains support, U.S. companies race to catch up in Africa, a look at bank stocks and corporate profits. Nobal laureate Peter Diamond gives up fight for a seat on U.S. central bank board in face of sustained Republican opposition Sperm bikes, electric cars and biodiesels, oh my! Converting your company's transportation fleet to an environmentally friendly one can b… A selection of the best images from around the world All the finance news you need to feel smart this morning. What's really bad is that since Climategate the rest of the world is becoming more skeptical about the progressive political science. The world has become so divided it cannot even come close to an agreement. So now the American hating progressives are going to force their false climate religion on us whether we like it or not. The progressives can't get an agreement so a few elitist in a distant government capital are now going to tax and tell the USA what to do. Isn't it grand how the American hating progressives are selling out the USA. INTERVIEW-W.Bank to suggest CO2 levy on jet, shipping fuel http://af.reuters.com/article/energyOil ... 05?sp=true In fact, climate sensitivity to doubling of atmospheric carbon dioxide concentrations is fairly summarized as the whole shootin' match of the climate issue. Computer models on which policy types base their demands (and alarmists their prophesying) assume a climate sensitivity that is vastly greater than the les policy-relevant observations. You might know the latter as 'reality'. Bank of America had sent a foreclosure notice to a couple in a Naples, Fla, but the owners had paid cash for their home. They took the bank to court. When Bank of America failed to pay up, the couple's lawyer drove to the local branch with a moving truck and a court order. He said unless the bank paid up, he'd foreclose on it, and seize its assets, like furniture. Boston Private Bank & Trust Company now accuses First Republic Bank of working with one of Boston Private's former star bankers to target some of its best commercial lending clients. Boston Private said the larger competitor now has "a detailed road map of which employees and customers to target and when to target them." The bank also said it recently lost another key employee to First Republic. In an amended civil complaint in U.S. District Court in Boston, Boston Private named San Francisco-based First Republic (NYSE: FRC) as a defendant in a case originally filed against one of its former top... June 6 (Bloomberg) -- Arjuna Mahendran, Singapore-based head of investment strategy for Asia at HSBC Private Bank, talks about the outlook for global stocks. Mahendran also discusses the U.S. economy. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg) Read full article >> • Investment in commodity funds has reached $270bn • Speculators blamed for putting staples out of reach of poor Government intervention may be needed to burst the huge bubble that has developed in the price of commodities such as food staples and oil, a UN report says . Prices have rocketed in response to dysfunctional commodities markets, according to the report, which also disputes the view of many senior economists and central bankers that commodity prices have jumped as a result of a surge in demand. "The changing role of commodity markets, which are turning into financial markets, has enormous repercussions for the economy," said one of the report's authors – Heiner Flassbeck, a director at the UN conference on trade and development (Unctad). "The possibility of allowing governments' direct intervention in the physical and financial markets needs to be considered," the study concluded. Investors are encouraged to behave like a herd, says the report, with few incentives to arbitrage or bet against the tide of rising prices. Without checks and balances in the system, investors create price bubbles that put many basic foodstuffs out of the reach of millions in the developing world. Oil may be as much ... When should the government file criminal charges against powerful corporations - and when is it enough to accept cash and a promise not to break the law again?
Key Words: us bank

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