Bank of America CEO Ken Lewis won't resign if he is slapped with civil charges from New York Attorney General Andrew Cuomo, but he's likely to leave if he is charged by the Securities and Exchange Commission, sources inside the Bank have told CNBC.
Policy-makers are expected to discuss ways to pull back massive provisions of cash to the economy in a way that preserves the recovery while preventing inflation
Of all the problems with the market, the government chooses to ban the one thing that’s working.
Tougher financial rules have been stymied by industry lobbying, government turf battles and a stabilizing banking system. Some analysts fear another crisis is inevitable.
It’s been four decades since the go-go years of the late 1960s, when hot mutual funds captured the imagination of investors by reporting performance that was too good to be true. It’s been so long that Bank of America seems to have forgotten what happened.
Plus, Cramer makes the call on the Internet, mining, proper diversification and more.
The SEC will discuss rules to improve oversight of the credit rating industry as well as a proposed ban on flash trades—or buy and sell orders that exchanges send to a specific group of participants before revealing them publicly.
Cramer says there may be a lot to go around.
One year after the collapse of Lehman, the bailout of AIG, and the near-implosion of the U.S. financial system, not a single Wall Street CEO has been called to account by criminal authorities. Some are starting to ask why.
Prior to the recession, major banks were hiding dubious assets off their balance sheets and stretching rules if not breaking them. Now, banks are resiusiting efforts to improve those rules and increase transparency.
It's an up week on Wall Street! (So far.) But that doesn't mean we haven't had a week's worth of boneheaded decisions. Vote now for the most egregious money-moves of the week.
Convicted swindler Bernard Madoff knew how to deal with pesky Securities and Exchange Commission investigators, and in a 2005 phone conversation caught on tape and obtained by CNBC, he tells associates his secret.
A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.
As we approach the anniversary of some of the most cataclysmic failures in our economic history, we appear to be in perhaps no better position to manage the failure of an investment bank, a hedge fund or an insurance company than we were before.
A global crackdown on bank secrecy and offshore tax havens is gaining steam due to the worldwide financial crisis, the head of the OECD told CNBC.
The watchdog of the Securities and Exchange Commission has found that three agency exams and two investigations of Bernard Madoff's business were incompetent, despite ample warnings of the multibillion-dollar fraud.
Securities and Exchange Commission Inspector General David Kotz has issued his long-awaited report on how the agency missed the Bernard Madoff Ponzi scheme.
With the toll of bank failures surging, regulators are expected Wednesday to ease rules they proposed only last month for private investors seeking to buy failed institutions.
Late Tuesday, a federal appeals court, without explanation, denied Allen Stanford's petition to remove U.S. District Judge David Hittner from his criminal case.
The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.