In the latest scandal to rock the world of finance, British investment bank Barclays has admitted to manipulating a major index.
On Wednesday, the Securities Exchange Commission adopted a new rule defining who needs to be regulated in the over-the-counter swaps market.
This week the debt crisis in Europe increasingly featured Italy in addition to the already-fraught economies of Greece, Ireland and Portugal. The increased possibility of Italy as a potential debt defaulter alarmed many as the Italian economy is the third largest in Europe. The country’s tenuous financial position was thrown into stark relief after a