Almost two years ago to the day, a team of officials from the Securities and Exchange Commission and the Federal Reserve Bank of New York quietly moved into the headquarters of Lehman Brothers. They were provided desks, phones, computers — and access to all of Lehman’s books and records. At any given moment, there were as many as a dozen government officials buzzing around Lehman’s offices.
The Senate is already down to its final two hurdles before passing a comprehensive financial reform bill, Sen. Christopher Dodd told CNBC.
Lehman Brothers may have collapsed a year and a half ago, but fallout from its demise has created a potential legal liability for its former accounting firm, Ernst & Young.
The two senators introduced a bill this week, which they modestly called the Bipartisan Tax Fairness and Simplification Act of 2010. The New York Times looks at what it means.
Congress could have passed a more sweeping jobs bill with larger bipartisan support if Democrats had been more willing to work with Republicans, Sen. Charles Grassley told CNBC.
The New York Attorney General's office is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.
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.
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.
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.
A lawyer for former media baron Conrad Black urged the Supreme Court Tuesday to overturn his fraud conviction, and several justices asked whether the federal law at issue was too vague.
More than 200 investors in Texas billionaire Allen Stanford's alleged Ponzi scheme face a new lawsuit from the court-appointed receiver who is gathering assets from the Stanford empire.
A congressional plan to audit the Federal Reserve's decision-making process poses a serious threat to the economy, former Fed governor Frederic Mishkin said.
Bernard Madoff's bankruptcy trustee and the law firm employing him submitted a $22.1 million legal bill covering five months of work. Baker & Hostetler LLP is seeking $21.28 million of fees as counsel to court-appointed trustee Irving Picard for the five months ended Sept.
Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan.
In the sprawling European subsidy program - which lavishes more than 50 billion euros ($75 billion at current exchange rates) a year in agricultural aid - no commodity is more susceptible to fraud, chicanery and rule-bending, experts say, than simple household sugar.
Galleon Group is winding down its hedge fund holdings, the company's embattled CEO Raj Rajaratnam said in a statement.
Swiss bank UBS AG warned U.S. customers by registered mail their account details may be given to U.S. tax authorities, a method that could itself breach secrecy laws, a Swiss paper said on Sunday.
The new Supreme Court term that begins Monday will be dominated by cases concerning corporations, compensation and the financial markets that could signal the justices’ attitude toward regulatory constraints at a time of extraordinary government intervention in the economy.
An enormous precious stone listed on a now bankrupt company's books for the value of 11 million pounds ($17.4 million) is probably not worth more than 100 pounds, British media reported Friday.