The Republican platform calls for legislation to separate banking, investments, and insurance. That would return the banking business to the more stable and efficient way it operated before 1999.
Turkey’s central bank is providing emergency liquidity to banks. The country’s economy is reeling from political instability and a subsequent crackdown on dissenters and academics, and for now it is impossible for banks to raise funds by issuing bonds.
Arrested: a senior manager at HSBC, charged in the U.S. with manipulating currency markets in 2011.
Seized: A U.S. investigation has located close to $1 billion of the $4 billion missing from 1MDB. The lost money was found in the accounts of the prime minister of Malaysia, who previously served as a director of the fund but was removed when the magnitude of the missing money was understood. Half of that money was used to buy art at auctions. U.S. authorities moved to seize the related assets located in the U.S. The prime minister has previously said he legitimately earned the commissions he received from the fund.
