Goldman Sachs Group Inc. fell to the lowest in more than a year in New York trading after reports that the Securities and Exchange Commission is probing the firm's $2 billion Hudson Mezzanine collateralized debt obligation.
Former Treasury Secretary Henry M. Paulson today said that last-minute authority given to the Treasury Department by Congress to save failing financial institutions probably averted another Great Depression.
The securities industry will receive proposals this week to improve record-keeping in the stock market and coordinate rules on erroneous trades, two concerns that were highlighted by the May 6 selloff.
Morgan Stanley said it hired Adam Parker from Sanford C. Bernstein & Co. as U.S. equity strategist.
The Dow Jones industrials climbed back above 10,000 Wednesday after Federal Reserve Chairman Ben Bernanke said debt problems in Europe might only amount to a "modest" drag on the U.S. economy.
Declining share volume and strategies by fund managers to hold down the cost of buying and selling stock may lower Wall Street trading commissions in 2010, defying forecasts for an increase, Greenwich Associates said.
Note to independent advisers: It's time to measure yourselves against a bigger stick.
Hired guns include Richard Gephardt, Harold Ford Jr., and a onetime SEC commissioner; lobbying budget doubled
Five outside challengers for seats on the board of the Financial Industry Regulatory Authority Inc. will have their names placed on the ballot for the upcoming election.
