BEIJING, April 21- China shares drifted lower on Monday, hit by concerns about a potential share oversupply after the securities regulator released draft prospectuses for 28 new companies planning to list. Shares in TBEA Co Ltd climbed 2.9 percent, while Henan Pinggao Electric Co Ltd gained 1.1 percent, and China XD Electric Co Ltd rose 1.3 percent.» Read More
Nicholas Cosmo, the Long Island man accused of running a $370 million dollar Ponzi scheme, remains jailed following a bail hearing today.
As Bernard Madoff awaits his fate inside his Manhattan penthouse, he is getting a new crew to keep him safe.
A Florida hedge fund manager who disappeared this month just as he was due to pay investors $50 million turned himself in to authorities Tuesday to face federal securities and wire fraud charges.
The court-appointed receiver in the case of missing hedge fund manager Art Nadel says Nadel has been defrauding investors since at least 2003, "and in all likelihood before then."
Several dozen employees, who work in the legitimate branch of Bernard Madoff's firm, are being laid off, according to The Wall Street Journal.
Federal law enforcement agents have tracked missing Sarasota hedge fund manager Arthur G. Nadel to Slidell, La., through cell phone records, according to a report in the Sarasota Herald-Tribune, which cited sources close to the investigation.
America's demand for crude oil fell to its lowest level since 2003 last year, as record high prices to start the year and an ailing economy at the end of 2008 combined to sharply curtail consumption, new statistics show.
The head of Europe's biggest economy said Thursday that world leaders should be looking at the massive U.S. deficit and other economic imbalances, not just problems caused by financial markets, as they debate a new global order.
The investigations into Bernard L. Madoff are expanding into offshore tax havens, the New York Times reported.
Two months before IndyMac Bancorp collapsed in July, at a cost of $8.9 billion to taxpayers, a top federal banking regulator allowed the bank to backdate a capital infusion and gloss over its deepening problems, the New York Times reports.
As the Securities and Exchange Commission begins an internal examination into how it missed the red flags of one of the largest frauds in history, it will inevitably discover that Bernard L. Madoff was a Wall Street pioneer who over the last 20 years alternately impressed and infuriated the agency’s top policy makers, the New York Times reports.
Consumers will be shielded from increases in interest rates on existing account balances on their credit cards under new rules being adopted by federal regulators.
Many of those who say they were victimized by long-time investor Bernard Madoff's alleged "Ponzi" scam are up in arms that the Securities and Exchange Commission, Wall Street's top cop, didn't crack down on his activities sooner.
In the wake of the Madoff scandal, former SEC commissioner Laura Unger called for SEC reform.
Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks basketball franchise, on Monday disputed an accusation from the Securities and Exchange Commission that he profited from insider stock trading.
Regulators tell banks: do what we say, or else. If there is any doubt that the federal government has taken over (nationalized, socialized) the nation's banking system, consider these headlines from a joint statement this morning from the FDIC, the Fed, and the Treasury.
The future of financial regulation: An open letter to the next Treasury secretary, from the New York Times
The International Monetary Fund has launched a probe into allegations of improper behavior in relation with a subordinate by its chief, Dominique Strauss-Kahn.
The US government mishandled the credit crisis, much as it did Hurricane Katrina three years ago, say crisis management experts.
Stocks declined Wednesday as comments from Federal Reserve Chairman Ben Bernanke sent the already-rattled market to session lows.