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President Barack Obama on Wednesday ordered a new crackdown on federal contractors who don't pay their taxes.
Layers of money managers that don't bear the brunt of losses but walk away with big payouts when things go well have turned the US economy to a type of "ersatz capitalism," Joseph Stiglitz, Columbia University professor and Nobel laureate, told CNBC Tuesday.
Is it possible that shareholders will finally get a reliable view of what the bosses are getting paid? And that it will come this spring?
Whereas the global regulatory and political powers-that-be made a good job of feigning coordination in their collective panic-button-pushing stimulus at the height of the financial crisis, it seems that it’s everyone for themselves in the scramble to punish the perceived perpetrators.
President Obama's proposed bank tax will not damage the economy and is a fair way to reimburse taxpayers for the Wall Street bailout, Treasury Secretary Timothy Geithner told CNBC.
A year after its controversial takeover of Merrill Lynch, Bank of America is discussing settling a troublesome state inquiry into the star-crossed deal and the billions of dollars in bonuses that Merrill hurriedly paid its employees, the New York Times reported.
A group of investors in Allen Stanford's alleged Ponzi scheme are demanding a powerful Texas congressman give them the same kind of support he showed Stanford when regulators shut down the alleged scam in February.
A federal judge has denied an emergency request by attorneys for indicted billionaire Allen Stanford to free their client on bail.
The nuclear power industry is about to get a big boost. In the next few days, the Energy Department plans to announce the first of $18.5 billion in loan guarantees for building new reactors.
In Nevada and other states hit hard by the housing crisis, stripping fixtures and appliances from homes in foreclosure has become commonplace. Craigslist, the Web site for classified ads, functions as a bazaar where stripped items are sold openly.
Attorneys for accused Ponzi schemer Allen Stanford—who has been in custody without bail since his indictment in June—say their client is in danger of a "complete nervous breakdown," so they are again asking a federal judge to let him go free on bail.
President Barack Obama said on Tuesday the White House will seek to cut bureaucratic restrictions so that local lenders can help businesses seize "enormous opportunities" for growth.
A federal judge has found accused Ponzi schemer Allen Stanford and three co-defendants in contempt of court in a dispute over their legal fees.
Bank holding company Washington Mutual has asked a federal court for the power to make the Federal Reserve, the U.S. Treasury, and a long list of other parties turn over documents and witness interviews related to the bank's 2008 collapse.
Executive compensation, leverage limits and lending standards were all issues that Washington said it planned to change — and when the taxpayers were the shareholders of these firms, it probably could have done so. But now the White House has been left in the position of extending invitations, rather than exercising its clout. And in the figurative and literal sense, it is getting stood up.
How ironic is it that President Obama is meeting top banks today to get their support for a bill that would undermine their business. And undermine what the President truly wants them to do: lend more to small and medium sized firms.
The House approved a legislative package of historic sweeping financial reforms Friday, but the vote in the Democratically-controlled chamber was closer than many had predicted.
Those trying to follow the last-minute legislative maneuvering around the massive financial services reform bill about to be voted on in the House might benefit from a scorecard. Here's the key provisions and suggested amendments.
The Securities and Exchange Commission will continue to "vigorously pursue" its charges against Bank of America over disclosure of bonuses to employees of Merrill Lynch, a top agency official said Friday.