Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.
Last month, 15 bond issuers were downgraded to speculative grade (BB+ and lower) from investment grade (BBB- and higher), the third-highest monthly tally of “fallen angels” since Standard & Poor's Financial Services LLC began keeping track in 1987, according to a report today from the New York-based rating agency.
A bill to provide low-cost loans to unemployed homeowners with delinquent mortgages was introduced yesterday by Rep. Barney Frank, D.-Mass., chairman of the House Financial Services Committee.
The chairman of the House Financial Services Committee says that Congress will substantially increase the power of government regulators to monitor derivatives, a type of financial instrument that contributed to the U.S. economic turmoil.
Ameriprise Financial Services Inc. of Minneapolis has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, the Securities and Exchange Commission announced today.
