Bernanke, Geithner, Dudley to Testify on the Hill - In what CNBC was calling, "The Grill on the Hill," Bernanke, Geithner and Dudley will appear before the House Financial Services Panel. Bernanke has already said that he wanted to file suit regarding the AIG bonuses, but Fed legal aides told him that Connecticut law would most likely mean that the Fed would lose thus pay out even more to the recipients.
Gold Continues to Fall - Gold fell early Tuesday for a third straight day as the dollar recovered from last week's loss. Gold dropped about $28 (2.9%) to $924.50.
Oil Falls on Inventory Data - Crude-oil dropped early Tuesday as expectations that U.S. crude inventories rose last week as demand declined. Crude has been trading at it highest level in close to 4 months. Analysts expect a build of 1.4 million barrels in U.S. crude stocks to be reflected in this week's oil inventory data from the U.S. Energy Information Administration and the American Petroleum Institute, a Platts survey showed Monday.
Chicago Fed's Evans: Financial Stabilization Efforts Working - Measures taken by the U.S. Federal Reserve and the Treasury Department have helped stabilize the financial system, Chicago Federal Reserve Bank President Charles Evans said Tuesday, according to news reports. Speaking at an event in Prague, Evans said the TALF has already improved credit conditions for consumers and small businesses since going into effect last month.
JP Morgan to Repay TARP Prior to Buying Jets - According to TheStreet.com, JPMorgan Chase has no plans to purchase new corporate jets or renovate a new hangar until the financial titan has repaid the billions it received in government funding. In a separate story, ABC News reported that JP Morgan had plans to buy two jets totaling $120 million and renovate a hanger for $18 million.
Sources: CNBC, Marketwatch, Platts, TheStreet.com, ABC News
Gold Continues to Fall - Gold fell early Tuesday for a third straight day as the dollar recovered from last week's loss. Gold dropped about $28 (2.9%) to $924.50.
Oil Falls on Inventory Data - Crude-oil dropped early Tuesday as expectations that U.S. crude inventories rose last week as demand declined. Crude has been trading at it highest level in close to 4 months. Analysts expect a build of 1.4 million barrels in U.S. crude stocks to be reflected in this week's oil inventory data from the U.S. Energy Information Administration and the American Petroleum Institute, a Platts survey showed Monday.
Chicago Fed's Evans: Financial Stabilization Efforts Working - Measures taken by the U.S. Federal Reserve and the Treasury Department have helped stabilize the financial system, Chicago Federal Reserve Bank President Charles Evans said Tuesday, according to news reports. Speaking at an event in Prague, Evans said the TALF has already improved credit conditions for consumers and small businesses since going into effect last month.
JP Morgan to Repay TARP Prior to Buying Jets - According to TheStreet.com, JPMorgan Chase has no plans to purchase new corporate jets or renovate a new hangar until the financial titan has repaid the billions it received in government funding. In a separate story, ABC News reported that JP Morgan had plans to buy two jets totaling $120 million and renovate a hanger for $18 million.
Sources: CNBC, Marketwatch, Platts, TheStreet.com, ABC News
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