The real problem that faces the public sector – Federal, State and local – is its lack of accountability, its lack of competitiveness and its bloated cost structure. That is where the knife needs to be used.
The NYSE and Nasdaq are set to make filings within days that would put several hundred ETFs in the SEC's circuit breaker program, which currently includes only stocks in the S&P 500.
Stocks ended lower Monday after a yo-yo session as investors digested some mixed consumer data, a drop in oil prices and news that the Supreme Court struck down a key part of the Sarbanes-Oxley law, which regulates corporate accounting.
Finally! A constructive use for that annoying World Cup buzz. Take THAT, Tony Hayward — and you, too, Grandpa Who Likes Lady Gaga!
Stocks bounced back Monday in a yo-yo session as investors digested some mixed consumer data, a drop in oil prices and news that the Supreme Court struck down a key part of the Sarbanes-Oxley law, which regulates corporate accounting.
The Obama administration is seeking to nearly double the wireless communications spectrum available for commercial use over the next 10 years, an effort that could greatly enhance the ability of consumers to send and receive video and data with smartphones and other hand-held devices. The NYT reports.
Stocks turned higher Monday after the Supreme Court struck down a key part of the Sarbanes-Oxley law, which regulates corporate accounting.
Our nation’s Congressional machinery was humming last week as legislators reconciled the differences between the labyrinthine financial reforms proposed by the Senate and the House and emerged early Friday morning with a voluminous new law in hand. They christened it the Dodd-Frank bill, after the heads of the Senate Banking and House Financial Services Committees who drove the process toward the finish line. The NYT explains.
Following the letter of Canada’s PM Stephen Harper, the G20 did something extraordinary: they’ve agreed to specific dates and amounts for fiscal deficit reduction.
Depending on your point of view, it was either a great G20 summit or another sign of hopeless gridlock. It was a great summit if you are laissez-faire (they put off agreement on a global bank tax and did little else and dropped a 2012 deadline for stricter capital provisions); but it was also obvious how hopelessly split the leaders were, between those who wanted more spending and those who wanted less.
US stock futures remained positive after economic news showed gains in income doubled those in spending and consumer saving hit its highest level since September 2009.
The Obama administration said Sunday it intends to nearly double the available amount of wireless communications spectrum over the next 10 years in an effort to keep up with the ever-growing demand for high-speed video and data transmission to cell phones, laptops and other mobile devices.
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As expected, evidence of a softer sales picture in May and June (particularly for housing) is causing analysts to begin to take down earnings numbers. According to Bespoke Investment, over the last four weeks, analysts have raised estimates for 373 companies in the S&P 1500 and lowered estimates for 545.
Now, with financial reform set to be implemented in Washington, there will be fewer unknown unknowns. This will contribute to a healing of the U.S. credit system. Moreover, the November election is likely to lead to more balance in the House and Senate, which means that the worst of the regulatory cloud and government involvement will soon pass. This could rally risk assets if this viewpoint becomes popular. Still, challenges remain.
The financial regulation bill agreed upon by Congressional leaders overnight is too weak and will not reform the system, Williams Isaac, former chiarman of the FDIC, told CNBC.
I was hoping we could forget about the Club Med countries for a while. China's currency, the G20 Toronto meeting, and the sacking of McChrystal pushed Greece off the front page.
The Dodd-Frank bill (that's what it's being called, folks): bad, but it could have been worse. That's what most Wall Street traders and analysts I have spoken with this morning say about the financial regulatory reform bill passed in the wee hours of the morning.
President Barack Obama says he's "gratified" by the deal that Congress has worked out on overhauling Wall Street rules.
U.S. lawmakers on Friday finalized a historic overhaul of financial regulations, handing President Obama a major domestic victory as he heads to Canada tonight for the three-day G20 summit devoted to financial reform. Read what the experts had to say on the new regulation.