In the first watchdog criticism of the Obama administration’s handling of the financial bailout, the head of a congressional oversight panel said the new Treasury Department plan “lacks crucial details,” especially about how it will treat toxic securities held by banks.
When combing through new investment ideas, advisers would be wise not to ignore mutual funds and separate-account strategies at the bottom of the heap.
OppenheimerFunds Inc. has elected to shutter its OFI Tremont Core Strategies Hedge Fund and start returning the fund's roughly $100 million in assets to clients.
Prices of existing single-family homes tumbled 18.2% on average in the fourth quarter of 2008, marking the biggest year-over-year price decline in 21 years
Americans' already battered confidence in the economy went into free fall in February, sinking to new lows.
The Fed has forecasted an inflation rate of less than 1% this year and less than 1.7% for 2010 and 2011.
Smith Barney, facing a rising number of broker departures from its branches, this month hit four ex-reps and a rival broker-dealer with a lawsuit.
Hard times are on the horizon for insurers as commercial mortgage exposure haunts carriers and capital levels shrink, according to Fitch.
