Goldman received the subpoenas earlier this year from the U.S. Department of Justice and the Securities and Exchange Commission, the Journal reported, citing a person familiar with the matter. http://on.wsj.com/2axt8L8. The Department of Justice and the SEC declined to comment. 1 MDB, which was founded by Malaysian Prime Minister Najib Razak in 2009 shortly... » Read More
President Obama's proposed financial reform has sparked a debate among lawmakers and members of the financial sector. Some argue that the plan's creation of a separate consumer protection agency will cause unnecessary confusion, while others say it will give the Federal Reserve too much power. CNBC talked to the experts for their opinion on the proposal.
Stocks snapped a three-day losing streak Thursdayas a trio of encouraging economic reports — the Philadelphia Federal Reserve's manufacturing report, leading indicators and weekly jobless claims — fueled recovery hopes.
Stocks advanced Thursday as a trio of encouraging economic reports — the Philadelphia Federal Reserve's manufacturing report, leading indicators and weekly jobless claims — fueled recovery hopes.
Stocks advanced Thursday after an encouraging report on manufacturing from the Philadelphia Federal Reserve.
The latest polls reveal a growing public revolt against massive deficits and massive government intervention, especially among independent voters. We sorely need limits on spending, borrowing, debt creation, TARP-ing, bailing-out and government expansion.
The economy will recover this year but at a slow enough place to cause challenges for investors, a panel of financial experts told CNBC.
There is a sentence in the new financial regulatory proposal that has me out of my seat. It says, "We also propose that the Federal Reserve Board receive prior written approval from the Secretary of the Treasury for emergency lending under its 'unusual and exigent circumstances' authority."
Federal Reserve Chairman Ben Bernanke deserves to be reappointed, because he did a great job in saving the US banking system from collapsing, Jack Welch, author of "Winning" and "Straight from the Gut," told CNBC Thursday.
The big winner of the Obama financial-regulation plan appears to be the Federal Reserve, which becomes the consolidated supervisor of large, systemically important banks.
US stock index futures were flat Thursday as investors digested the Obama Administration’s changes to financial regulation and looked toward key economic reports including jobless claims.
Market manipulators are bound to find a way around sweeping reforms proposed for the financial services system, hedge fund manager James Chanos told CNBC.
National Economic Counsel Advisor Larry Summers told CNBC Tuesday that President Obama's call for new regulations in the financial industry has no winners or losers and is more like a re-organization than creating new agencies
The financial overhaul expands the Fed's powers but also restricts them, underscoring the central bank's awkward role in bank regulation and the economy.
The regulatory reform package provokes concerns about big government, but others on Wall Street said it could help prevent a repeat of the financial crisis.
The financial reform should include some way of separating banks' proprietary trading from commercial banking, although a return to regulation similar to the Glass-Steagall Act would be impractical, legendary investor George Soros wrote in the Financial Times.
Concerned over the surge of phony swine flu treatments hawked on the Internet, the Food and Drug Administration has ordered dozens of Web site operators to stop making fraudulent claims, leading to a drop in the number of scams.
President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
The long-running and personal feud between Mr. Dugan and Ms. Bair is now helping to shape President Obama ’s attempt to revamp financial regulation aimed at preventing the regulatory lapses that contributed to the economic crisis.
Historic anti-smoking legislation sped to final congressional passage on Friday— after a bitter fight lasting nearly a half-century— and lawmakers and the White House quickly declared it would save the lives of thousands of smokers of all ages.
The Senate has voted to give the government extensive new powers to decide how tobacco companies will make and market their products. Supporters say that could spare millions from smoking addiction and premature death.