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BlackRock, Voya revive a credit trade that returned double-digits
Asset managers, who spent much of the past decade battling low yields, are now raising cash to seize on deep discounts
Obama touts Wall Street changes on Lehman anniversary
President Barack Obama is going to the heart of Wall Street on the first anniversary of Lehman Brothers' collapse to outline changes needed to prevent a future crisis like the one that sent the global economy into a tailspin last year.
Credit Suisse to pay $536M to settle Iran wire transfer case
Credit Suisse Group has agreed to pay $536 million to settle a Justice Department probe and admit to violating U.S. economic sanctions by hiding the booming illegal business it was doing for Iranian banks.
Wall Street execs on financial crisis: Our bad
Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and made poor decisions, while also defending their bonus and compensation practices to a skeptical commission investigating what caused the collapse.
CIT chief Jeffrey Peek set to jet at yearend
CIT Group Inc., a major lender to small and midsize businesses, said Tuesday its chairman and CEO Jeffrey M. Peek plans to resign at the end of the year.
Bi-partisan panel begins inquiry into financial meltdown
The commission is co-chaired by Democrat Phil Angelides and Republican Bill Thomas, both from California, and its executive director is Thomas Greene, a high-profile California lawyer.
Americans shy away from credit, according to a poll
Having learned a painful financial lesson from the financial crisis, Americans are less likely to fund their lifestyles with credit, according to a new survey.
Credit market may have turned the corner, lenders’ association reports
A majority of asset-based lenders increased their new credit commitments during the first quarter, which could mean a credit market rebound is on the horizon, according to a report released today by the Commercial Finance Association.
Libor lending rate at new low
The cost of three-month dollar loans slid to a new record low today, another sign that credit markets are easing, despite a warning from the Federal Reserve that the U.S. economy will contract by more than previously anticipated this year.
