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Elizabeth Warren will start a new
Consumer Protection Agency, as President Obama said that financial "tricks and traps" was over. This bears watching for major banks, such as Citigroup
C, and Bank of America
BAC.
Angelo Mozilo will go to trial for failing to disclose Countrywide's
BAC mortgage portfolio, which ultimately brought the business to its knees. Regulators state that Mozilo made millions by dumping Countrywide stock before the truth finally emerged.
The Bank of Japan is
feeling the urge to do more for its ailing economy, perhaps weakening the yen further. If the yen weakens, shares of CurrencyShares Japanese Yen Trust
FXY would lose value as it tracks the yen/dollar ratio.
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Posted In: EarningsNewsPoliticsEconomicsPersonal FinanceBank of JapanConsumer Protection AgencyElizabeth WarrenFinancialsOther Diversified Financial Services
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