With the two houses divided, the parties will have to compromise. But will they? The challenge will become acute if the Fed's latest stimulus gambit falls short, leaving the economy gasping. The GOP's aversion to spending could be tested.
Pay on Wall Street is on pace to break a record high for a second consecutive year, growing an average of 4% in 2010 at the 35 top financial institutions and rising faster than revenues.
UBS and Credit Suisse Group will have to almost double their capital holdings because Switzerland has set out to further tighten the reins on its megabanks, requiring them to hold capital well in excess of the new Basel III rules.
Since Lehman's collapse in September 2008, regulators around the world have begun erecting a scaffolding of new rules and regulations designed limit excessive risk-taking. The big question is: Are they enough to prevent another financial crisis?
In Wednesday's legal news, the Texas Attorney General has appealed a judge's decision to grant a divorce to two men who were married out of state; the SEC vows to pursue overseas ratings fraud; and companies that incorrectly claim their products are patented can be sued for $500 per product.
Some top financial institutions are moving surprisingly quickly to change how they operate. Question is: Did the financial reform law force their hands, or is this just a good time for big banks to rethink their business?
The market for asset-backed securities has reopened after being frozen for a week. It's the first example of how unintended consequences from the Dodd-Frank overhaul can create mischief in the financial markets. Are bigger changes coming?
A provision in the newly passed Dodd-Frank financial overhaul law makes the higher FDIC insurance limit of $250,000 retroactive to 2008. That means depositors at six banks will now get reimbursed for the higher amount.
