Banks must triple the amount of cash they keep on reserve under a new set of guidelines backed by a global group of regulators this Sunday. With a more generous than expected deadline for the rules to take effect, financial stocks perked up on the news. [More]
The IRS announced today that 14,700 Americans disclosed their secret off-shore accounts — ensuring “billions of dollars in new tax collections” says Bloomberg.
Here’s some weird news from Switzerland, a seven year old girl has “allegedly” found a condom amongst her French Fries in her McDonald’s Happy Meal.
Instead of canceling bonuses for top execs this year, Credit Suisse instead will pay them with the very toxic debt that’s thrown the world into an economic crisis. Yes, Virginia, there is a Revenge Claus.