UBS Can Afford a Legal Brawl With the Justice Department

Switzerland’s UBS has been accused of defrauding investors in its sale of residential mortgage-backed securities ahead of the 2008 financial crisis.CreditCreditArnd Wiegmann/Reuters The typically reserved chief executive of UBS, Sergio Ermotti, is ready to take a pop at the U.S. Department of Justice. The Swiss bank has been accused of defrauding investors by selling residential […]

A Tale of Two Washingtons Awaits Wall Street Banks

Randal Quarles, the Fed’s vice chairman of supervision, called for a “recalibrating” of bank rules put in place since the financial crisis.CreditCreditJacquelyn Martin/Associated Press WASHINGTON — Big banks are about to experience a tale of two Washingtons. On Friday, a top Federal Reserve official said regulators were preparing to soften some rules imposed on the […]

The Economy Didn’t Save Republicans After All

President Trump greeting Representative Jason Lewis of Minnesota at a rally last month. Mr. Lewis lost his re-election bid even though the unemployment rate in his district was just 2.5 percent.CreditCreditCraig Lassig/EPA, via Shutterstock Unemployment is abnormally low. Growth has sped up. A $1.5 trillion tax cut, signed by President Trump last year, is fueling […]