Lawmakers must take steps stabilize a financial situation that could pose “very serious consequences” for the U.S. “financial markets and for our economy," said Fed chief Ben Bernanke.
The historic bailout may be as low as $100 billion to $200 billion, rather than the $700 billion being requested by the administration, House Financial Services Committee Chairman Barney Frank, D-Mass. said yesterday.
A group of the world's largest hedge funds are planning to sue the Financial Services Authority for millions of pounds of losses allegedly resulting from the regulator's ban on short selling, according to a report in the Sunday Telegraph.
At a time when major investment banks are failing, the independent-advisory business is flourishing, according to a recent research report.
The crisis that has swept the financial markets in the past few months, beginning with the collapse of The Bear Stearns Cos. Inc. of New York and continuing with the bailout of Fannie Mae and Freddie Mac, and now the government takeover of American International Group Inc. of New York, makes obvious the need to revamp totally the nation's financial-markets regulation.
U.S. markets are poised to open sharply higher this morning after top government officials from the administration and Congress announced a several actions last night intended fight the mounting financial crisis, according to published reports.
Legislation that would set up the Office of Insurance Information within the Department of the Treasury has stalled in the House.
Following this weekend’s turmoil on Wall Street, financial-sector job cuts may hit new heights, according to a report from Challenger Gray & Christmas Inc. of Chicago.
“There will be massive defections of clients and advisers,” said Liz Nesvold, managing partner of Silver Lane Advisors LLC of New York. “The wirehouse model, which was damaged, is now broken.”
While financial advisers provide far from the most popular content on YouTube, they are there.
Debit card loan programs recently have been the focus of criticism in Washington.
The immediate reaction to last week's federal takeover of Fannie Mae and Freddie Mac was overwhelmingly positive.
LPL Financial has agreed to pay a $275,000 penalty for violating customers' privacy, the Securities and Exchange Commission said Thursday.
The chief executive of a subprime lender who lost a $65 million lawsuit against Merrill Lynch & Co. Inc. is demanding another bite at the apple.
If employees knew how much cashing out their plan when getting laid off or changing jobs could affect their future, maybe they would leave the plans untouched.
Lehman Brothers is verging on collapse, even as Bank of America has reportedly bought Merrill Lynch for $44 billion; AIG hammering out its own rescue strategy.
The Securities and Exchange Commission would have explicit power to bar people associated with investment advisory firms for violating securities law under legislation unanimously approved yesterday by the House of Representatives.
Handful of firms peddled equity swaps, stock loans to clients; 'IRS pussyfooted on this.'
Efficient Market Advisors LLC of Del Mar, Calif., announced today the launch of the first 403(b) retirement program offering professionally managed portfolios of exchange traded funds.
