Byron Trott, a long-time Goldman Sachs banker and a trusted adviser to Berkshire Hathawayâ??s Warren Buffett, is leaving the company to start his own investment fund with backing from the billionaire.
The Obama administration refused on Sunday night to give fresh bail-out money to General Motors and Chrysler, telling the carmakers to come up with new plans or risk insolvency.
The Spanish government and the Bank of Spain on Sunday began the countryâ??s first bank rescue in this financial crisis, providing up to â?¬9bn in liquidity to Caja Castilla La Mancha, a troubled savings and loans institution, and replacing its directors with central bank nominees.
The Treasury proposed new measures and rules aimed at preventing future financial crisis. The plan covers four broad areas: systemic risk; consumer and investor protection; closing regulatory gaps; and international coordination.