Today, the SEC charged two former top-ranking New York political figures with orchestrating a multi-million dollar fraudulent “kick back” scheme. The SEC complaint names David Loglisci, the former New York Deputy Comptroller and chief...
Bear market rally or the beginning of a new bull market? Who the heck knows, but there is good news out there. The S&P extended it’s rally and is now up about 17 percent since hitting 12-year-lows last week. Today’s market was fueled...
There are likely few people who’d want to be in Edward Liddy’s shoes—especially today. The AIG CEO is testifying before the Inquisition—er, Congress this morning. Liddy will be grilled about $165 million in bonuses his company doled out to...
So sang the great country music pioneer Maybelle Carter of the Carter Family. As the 1936 song goes, “This dark hour of midnight [is] nearing/And tribulation time will come.”...
This week, Wall Street is bearish on compensation. Perhaps the most alarming (read hilarious) bit of news was a veritable death sentence for AIG executives issued Monday by Iowa Senator Charles “Chuck” Grassley, who told Cedar Rapids...
Sandy Weill and Hank Greenberg are no longer billionaires, and the great Warren Buffett took a hit too. But the Forbes annual billionaire's list reaveals that Mayor Mike Bloomberg got richer.
Is New York AG Cuomo Eliot Spitzer incarnate? How much in client assets did UBS's U.S. retail brokerage lose in 2008? Why is Steve Leuthold still bullish?
The current financial regulatory apparatus, all agree (at last), is outdated, having been cobbled together over the decades, beginning after the Great Crash of 1929. Setting aside whether a Glass-Steagall-type law might be resurrected in the wake...
When you weigh the Securities and Exchange Commission’s manpower, technology and budget against the securities industry’s size and complexity, it’s easy to imagine gaps in the regulatory system. With or without an increased...