U.S. credit card delinquencies reach all-time high
Consumers are increasingly failing to meet credit card payments as they battle high unemployment rates and a shrinking economy which has left many cash strapped. Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the fourth quarter.
EU Ministers criticize bank capital rules
European Union finance ministers criticized the current bank-capital rules saying that it is pro-cyclical, saying it allows banks to shed reserves when the economy appears healthy and forces them to stockpile when the economy shows signs of risk.
Goldman at risk of losing millions from ex-programmers code theft
Goldman Sachs Group Inc. may lose its investment in a proprietary trading code in addition to millions of dollars from increased competition if software allegedly stolen by a former employee falls into competitors hands. The ex-Goldman Sachs programmer is now out on bail.