AIG

Interview: Howard Davies

The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change

Fed profits leap by 50%

Federal Reserve's profits shoot to $53.4 billion allowing record transfer of $47.4 billion to US Treasury; value of Maiden Lane vehicles climbs $5.6 billion after 2008 loss

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