It looks like Timothy Geithner is joining the Council on Foreign Relations — a "sort of think tank" that hosts panels, speeches, and publishes reports on a range of current events — as a distinguished fellow, following his recently completed stint as U.S. Treasury Secretary. Geithner previously served on the CFR as a senior fellow in 2001.
Nasdaq is in talks with the Securities and Exchange Commission to pay a $5 million fine over the botched Facebook IPO, which is estimated to have cost Wall Street around $500 million.
Pension funds are pulling out of commodity indexes, since they do little "to protect their portfolios against inflation risk and the unpredictable returns of stocks."
Financial Times
Jim O'Neill, chairman of Goldman Sachs' asset management arm, is set to retire. Unnamed sources tell the paper his departure "may have been motivated in part by frustrations over the status of Goldman Sachs Asset Management within the bank."
Washington Post
Virginia is moving closer to establishing its own currency.
Wonkblog profiles a paper that makes a case for "Too Big to Fail" banks. Among its arguments: "That without huge, regulated banks, companies will turn to the unregulated 'shadow banking' sector to meet their financial needs … If a bank break-up sparked a vast expansion of shadow banking, it would make the financial system more vulnerable."
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