We all knew the financial crisis was bad. We didn't know it was this bad, however. According to the Federal Reserve, the slump obliterated nearly 40% of the net wealth of U.S. households — wiping out 18 years of gains.
Insurer faces asset liability management and longevity risks tied to pension obligations; 'credit negative'
Automaker also shifting balance of pension plan to Prudential
Bank of America sharpens Merrill Edge by adding 10 actively managed portfolios
Moynihan tells employees additional cost savings needed; 'got to do more'
More good news for Merrill: BofA priced 'as if it's going out of business'
In a surprise move, the Department of Labor backed off an earlier provision that tightened the standards governing brokerage account windows. The response of 401(k) advisers and consultants? Huzzah.
Open architecture and fund selection now commonplace; 'evolution'
It looks to be a rough couple of months for Morgan Stanley. Recruiters say rep exits have picked up ahead of the transition to a new platform. Meanwhile, the bank is facing a possible three-notch drop in its credit rating.
Warren Buffett's Berkshire Hathaway has lagged far behind the S&P 500 for the past three years. And his political stances have alienated some former fans. This raises the almost unthinkable question: Has the Oracle lost the Midas touch?
A bit of advice to SEC Chairman Mary Schapiro, who has made it abundantly clear that she intends to make further changes to regulations governing money market funds: Quit while you are ahead.
Labor Department now shooting to issue proposal during the first half of the year; request for IRA info could gum up the works
