Red Light: The Federal Communications Commission moved to block the merger of AT&T and T-Mobile on Tuesday on the basis of findings that it would cause job losses and higher prices for consumers, officials said. It was an unusual move for the FCC, which has not tried to block a deal since 2002, The Washington Post reports.
Blame Game: In one of the few fraud suits brought against a mortgage banking official in the aftermath of the financial crisis, a new defense has been mounted by the executive: my regulator told me to do it, The New York Times reports.
More Money: Citigroup Inc., whose $285 million settlement with U.S. regulators over a collapsed collateralized debt obligation was faulted by a federal judge as too lenient, may have to pay more money to avoid admitting it did anything wrong, said lawyers following the case, Bloomberg reports.
Suspended: Judge William Adams, who made national headlines after the release of a 2004 video of him beating his then-teenage daughter, has been suspended by the Texas Supreme Court, CNN reports.
Hot Seat: Jon Corzine, who has been publicly silent since resigning as MF Global's chief executive on November 4, was asked to appear before Congress next month to explain how his futures brokerage, among the largest in the United States, collapsed into bankruptcy so fast, Reuters reports.
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