Bernanke: Fed Increasing Oversight Beyond Banks
The Fed has broadened its oversight beyond banks and now monitors a wide-range of financial institutions that could hasten another crisis, Chairman Ben Bernanke said Friday.
financial
From Colorado Springs: Lessons for America's Budget-Cutters
Some communities question if they can function along the Spartan economic guidelines touted by Tea Party activists. One place those municipal leaders might want to examine is Colorado's second-largest city. It's a laboratory in draconian fiscal conservatism.
New York Sues Ernst & Young Over Lehman Bros.
New York Attorney General Andrew Cuomo has filed a civil lawsuit against Ernst & Young, alleging that the accounting giant helped now-defunct investment bank Lehman Brothers hide billions of dollars in debt from its investors via loans disguised as sales.
Programmer Convicted of Stealing Trade Secrets from Goldman Sachs
A former Goldman Sachs computer programmer has been convicted of stealing trade secrets and property in an effort to help a Chicago-based startup develop its own high-frequency securities trading operations.
CEO Departures in November Fall to Year's Lowest Level
Though the job market remains challenging, for one group, the labor market was at its steadiest of the year last month. The number of chief executives departing their jobs fell to 79 in November, the lowest monthly number of 2010, according to job-services firm Challenger, Gray & Christmas.
More People Repaid Credit Card Debt in October
U.S. credit card delinquencies fell in October to the lowest levels of the year as more people were able to restart payments on their consumer debt, The Wall Street Journal reported, citing company filings.
Morgan Stanley Earnings Preview: Profits Will Fall
Morgan Stanley is expected to report sharp declines in third-quarter earnings and revenue ahead of Wednesday's opening bell, hurt by months of weak trading activity. The financial giant is forecast to post earnings of 15 cents a share, less than half the 38 cents a share booked a year ago.
Goldman Sachs Earnings: Expect Lower Profits
Goldman Sachs is expected to report a sharp drop in third-quarter earnings early Tuesday, due to a decline in trading activity in a market that's been light on volume for months. Goldman is forecast to report adjusted earnings of $2.28 a share.
2010 U.S. Budget Deficit Comes in Below Expectations
Investors received another sign Friday that the U.S. economy is continuing to heal: The 2010 U.S. budget deficit came in at a smaller-than-predicted $1.29 trillion. Though it was still the second-highest deficit on record, the numbers reflect growth in tax revenues, and thus in the economy.
Geithner Pledges Speedy Financial Reform
During a speech Monday, U.S. Treasury Secretary Timothy Geithner pledged a speedy implementation of the financial system overhaul. One of the first tasks on the list? Simplifying all the paperwork.
