India seems intent on cleaning up a banking sector that’s plagued by bad loans and high-profile scams. The question is how damaging the cure will turn out to be. On May 13, federal investigators went after Usha Ananthasubramanian, currently the head of state-run Allahabad Bank, filing formal charges over her alleged involvement in a multi-billion dollar fraud involving celebrity jeweler ...

Mahathir Mohamad blamed everyone except himself and his policies for his country’s entanglement in the 1997 Asian crisis. It appears two decades haven’t been enough to mellow the Malaysian leader. The 92-year-old prime minister has won an unexpected second shot at a job he retired from in 2003. But his contempt for markets is still intact. No, he hasn’t returned ...

Following the financial meltdown of a key government contractor in the UK, Carillion Plc., legislators and professionals are discussing the breakup of the Big Four auditing firms. Such a drastic measure, however, would probably do less to increase the relevance of audits than a different change, also unpopular with auditors. Carillion’s demise caused the debate because, as the construction firm ...