Dec 12- Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about collateralized debt obligations it structured and sold.» Read More
A beneficiary of financial regulatory reform is coming public just as a bill is close to passing. Here’s how you trade it.
Jerome Kerviel goes to trial Tuesday over unauthorized trades that cost French bank Societe Generale 4.9 billion euros ($6 billion) in 2008.
The far-ranging financial reform package currently being negotiated for passage in Congress must beat back Wall Street's press for exceptions, U.S. Commodity Futures Trading Commission chairman Gary Gensler told CNBC Thursday, noting that the "American public needs a strong bill."
As the House and Senate begin merging their separate bills into a single bill, they still have a chance to make some important improvements. Here are four issues to watch in coming weeks. The NYT explains.
Without the support of the UK or many euro-zone members, the EU looks split on key issues at a time when the Treasury Secretary thinks they should be standing united.
Global stock markets are regularly seeing three-percent swings as investors grapple with worries about the euro zone debt situation and escalating tensions between North and South Korea.
Should people be able to bet on your death? How about your financial failure? The New York Times explains.
Global stocks plunged for the third day in a row on growing fears that Europe's financial crisis will hurt economic growth and lead to a wider market correction.
The man at the eye of the financial storm that has engulfed the euro has learnt to be patient after 20 years confined to a wheelchair. But Wolfgang Schaeuble, Germany’s finance minister, is also a man in a hurry, the Financial Times reported.
Stocks tumbled around the world Wednesday as investors were rattled by efforts in the US and Europe to tighten regulation of financial markets
Germany's ban on kinds of naked short selling will have no effect on investors' ability to bet on declining prices, analysts told CNBC.
David Sokol, a key Warren Buffet lieutenant, told CNBC that it would be a “disaster” if Congress enacted retroactive legislation that voided contracts dealing with derivatives.
Goldman is in talks over a potential settlement with an investor that claims that it lost money and went out of business after buying into a $1 billion mortgage-backed security, the FT reports.
For Warren Buffett, it's a matter of simple fairness: "If the restaurant only gets paid for an 8-ounce steak, they don't want to give you the 12-ounce one." It's a concept at the core of his argument against allowing the government to require collateral on existing derivatives contracts.
Nebraska's Democratic Senator Ben Nelson is quoted by Bloomberg as saying he and his wife's long-held stake of up to $6 million in Berkshire Hathaway, does not create a conflict of interest for him on the financial regulatory bill currently at the center of a Capitol Hill fight.
The job of a market maker is to determine a price at which the trader is willing to buy a particular product AND a price at which that same trader will sell that same product at the same moment in time. Yes – a market maker will give you a price to buy, or sell – and they are generally indifferent to what you do, they just want you to do business.
When housing went from boom to bust, mortgages (especially subprime and Alt-A loans) were at the center of the economic crisis. And the term 'toxic asset' was born.
At least one company will benefit immediately from Washington’s reforms.
Senate Democrats have killed a provision of their proposed derivatives bill that would have exempted existing contracts from collateral requirements. Warren Buffett's Berkshire Hathaway has been lobbying in favor of the exemption.
Bank defaults have begun to slow and will probably peak toward the end of this year, FDIC chairman Sheila Bair told CNBC Friday.