Nouriel Roubini, one of the biggest bears on Wall Street, wasn't surprised by the fire sale at The Bear Stearns Cos Inc. of New York. He said it just reinforces his 12-point gloom-and-doom outlook, which he unleashed on Wall Street in February, and he now thinks that total financial losses in the credit debacle may top the $1 trillion he previously projected.
Sales of existing homes increased by 2.9% in February to a seasonally adjusted rate of 5.03 million units, following six consecutive monthly declines.
Mutual Service Corp. faces at least one arbitration claim for allegedly failing to supervise a mortgage broker whose practice collapsed last September under the weight of a nearly $30 million fraud.
After months of insisting that no further delays for smaller public companies would be forthcoming, SEC Chairman Christopher Cox said in December that he would recommend still another delay in implementing Section 404(b) for companies with market caps under $75 million ("non-accelerated filers") until fiscal years ending on or after Dec. 15, 2009.
Even as the financial services industry scurries to provide advisers with better retirement income vehicles, advisers continue to criticize the new products.
With inflation expectations on the rise, now is a good time to consider what strategies you might implement for your retired clients to respond to a possible upturn in inflation.
Mutual funds that offer managed payouts designed to give investors a steady stream of income have caught the attention of Andrew J. "Buddy" Donohue, director of the division of investment management at the Securities and Exchange Commission.
Educating financial advisers about leveraged-index funds is one goal that Dan O'Neill embraced when he took over last month as Direxion Funds' chief executive.
A full 93% of plan sponsors said they are solicited at least once a year by other advisers, according to a Fidelity study.
Morgan Stanley & Co. Inc. of New York is cutting its four retail divisions down to two, creating a South/West division and a Northeast/Central division.
