Chinese president Xi Jinping has targeted retired Chinese Communist Party leader Zhou Yongkang in an extraordinary corruption inquiry.» Read More
Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest financial crisis since the 1930s and determine how the government plans to get the nation out of the mess.
Prosecutors have subpoenaed a dozen executives of Lehman Brothers Holdings including Chief Executive Dick Fuld in connection with three grand jury probes investigating the fall of the investment bank.
Under the new "bailout" — "rescue" — legislation, Treasury will be purchasing billions of dollars of mortgage-backed securities — mostly backed by subprime mortgages.
Prospects for a financial rescue plan improved in Congress as the Senate prepared to vote tonight and two House leadrs said headway is being made. But the debate continues to rage about what the most effective solution is. What do you think?
Do you know where your federal income-tax dollars go? The National Priorities Project does. Learn how each dollar is spent when it gets into Uncle Sam's hands.
The economic crisis and raw politics threatened to derail the first presidential debate as John McCain challenged Barack Obama to delay the Friday forum and join forces to help Washington fix the financial mess. Obama rebuffed his GOP rival, saying the next president needs to "deal with more than one thing at once."
In whatever form it takes, the government rescue plan for the nation's financial system should provide an entry point for investors looking to buy bank stocks again.
Why is New York moving to regulate a complicated part of the derivative market? Because no one else was keeping an eye on it, says the state's insurance chief.
A proposal to fund $25 billion in low interest loans to the auto industry was included on Monday in draft legislation that could be considered by the U.S. Congress later this week.
Indiana has sued Countrywide Financial, becoming the latest state to take the mortgage lender to court over its lending practices.
Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.
Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.
Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
The top U.S. securities regulator plans to propose a new short selling rule in the next few weeks which would be broader than an emergency order covering just 19 financial stocks which ended last week
Short trading in 19 major U.S. financial stocks will revert to rules governing other shares Wednesday as a Securities and Exchange Commission experiment against abusive short selling expires.
Following are Thursday's biggest winners and losers. Even with today's rough market, there were a number of pops, such as an internet florist, a Canadian fast food chain and a certain star athlete making the move to the Big Apple.
Melissa Lee reports a breaking story linked to Citi's settlement and buyback of auction rate securities during tonight's "Fast Money." In an after-hours announcement, another Wall Street giant, Merrill Lynch, stated it too would buy back auction rate securities from its retail clients, who currently hold $12B of those questionable securities.
Merrill Lynch will follow Citigroup in cobbling together a settlement for clients who bought auction rate securities.
Tone Grant, the former president of Refco, once the largest independent commodities broker, was sentenced to 10 years in prison for his role in a $2.4 billion fraud that involved hiding huge trading losses from clients.