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Future of Wall Street lies in the hands of Investment Banking
13 hours ago ago from Learn Financial Planning
The face of Wall Street has changed by the current economic melt down, possibly forever. The energy in the market has been continuously taken over by the investment bankers, but even then in the last few months series of shocking incidents happened in the market which changed the entire scenario of the US markets. Goldman Sachs and Morgan Stanley got converted in to banking holding companies just stay in the business, Lehman Brothers went ...
Related contentAustrian bank collapse furthers fears of contagion
20 hours ago ago from Forex Trading With The Insider Code
by Edward Harrison The Austrian government has nationalized the insolvent bank Hypo Group Alpe Adria (HGAA). The financial institution, which has 40 billion Euros in assets, is the country’s sixth largest bank. But, in relative terms, this is a very large bankruptcy – using GDP at purchasing power parity , an American HGAA would have assets of $2.5 trillion, larger than any of the American banks. So, this is a very big deal and it speaks ...
Related contentExcerpts of Time Interview With Person of the Year Ben Bernanke
18 hours ago ago from Alextatic
Thank you Real Time Economics, great summary and excerpts. Excerpts of Time Interview With Person of the Year Ben Bernanke : Time Magazine today named Ben Bernanke as its Person of the Year . Senior Time editors Richard Stengel, John Huey, Michael Duffy, and correspondent Michael Grunwald conducted an extensive interview with the Fed chairman. Read the full interview here. Below are some excerpts on key issues: On the necessity of ...
Related contentS.E.C. to Force Broader Disclosure on Executive Pay
16 hours ago ago from DealBook
Legal S.E.C. to Force Broader Disclosure on Execs’ Pay December 16, 2009, 6:51 am Companies will have to reveal more information about how much they pay their top executives, under expanded requirements being imposed by federal regulators amid a public outcry over compensation, The Associated Press reported. The Securities and Exchange Commission also is changing a formula that critics say allowed companies to understate how ...
Related contentFail-Out: Wall St. and the Federal Reserve
9 hours ago ago from Food for thought...
A post by "S-Dott " To see more posts click here If you've been following the financial news recently, you may have heard that some of the bailed out TARP banks have begun paying back the money given to them by the federal government. Now much hoopla has been made about why these banks are so adamant about paying these funds back now that compensation restrictions are being imposed on all banks receiving TARP funds, or even how paying ...
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More bank failures expected; how you check the health of yours
11 hours ago ago from WalletPop
The banks may be paying back their bailout funds, but there's still trouble ahead for some banks. That became clear this week when the Federal Deposit Insurance Corporation agreed to almost double the amount of money in its 2010 budget that is there to deal with bank failures . What's more, the FDIC plans to add more than 1,600 staffers. Of course, with any luck, we won't need those 1,600 additional workers, only 84 of them who will be ...
Related contentOut from under TARP, banks are now free to fail again
22 hours ago ago from Washington Post - Business
There's the president of the United States, sitting in the Cabinet room at the White House, cameras rolling, talking with the heads of the country's biggest banks, each one of which had benefited from an extraordinary government effort last year to prevent the financial system from collapsing. The purpose of the meeting is to pressure banks to make more credit available to small businesses, to restructure delinquent mortgages rather than ...
Related contentRep. Maurice Hinchey: Bring Back the Glass-Steagall Act to Break Up the MegaBanks that Caused the Crisis
3 hours ago ago from Huffington Post
In the midst of the Great Depression, Congress approved the Banking Act of 1933, which among other things, separated investment banking from commercial banking. This measure, more commonly referred to as the Glass-Steagall Act, was adopted after many banks had taken depositors' money, invested it in the stock market, and lost big time. This resulted in people pulling their money out of banks and led to a financial disaster. By separating ...
Related contentSEC to require broader disclosure on executive pay
22 hours ago ago from U.S. News
SEC to require broader disclosure on executive pay WASHINGTON (AP) -- Companies will have to reveal more information about how much they pay their top executives, under expanded requirements being imposed by federal regulators amid a public outcry over compensation. The Securities and Exchange Commission also is changing a formula that critics say allowed companies to understate how much their senior executives are paid. At issue is how ...
Related contentFDIC Approves Sharp Increase In 2010 Budget To $4B : NPR
1 day ago ago from NPR
Search hear continuous streams 24-Hour Program Stream NPR News and Shows hear the latest news [4 min 45 sec] Latest NPR Newscast FDIC Approves Sharp Increase In 2010 Budget To $4B by The Associated Press text size A A A WASHINGTON December 15, 2009, 09:44 pm ET The Federal Deposit ...
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