The rulers of the exchange of mankind’s goods have failed,” U.S. President Franklin D. Roosevelt told a Depression-blighted nation in his 1933 inauguration address. “There must be an end to a conduct in banking and in business which too often has given to a sacred trust the likeness of callous and selfish wrongdoing.”
Fast-forward three-quarters of [...]
Back in the 1980s, David Bonderman was the chief dealmaker for Robert Bass, a Texan billionaire. He helped to structure the $550 million buyout of American Savings and Loan Association of California, which was caught in the S&L morass. It was a complex deal, requiring lots of negotiations with federal regulators. But it ultimately turned [...]
The panel’s recommendations were accepted by the government and formed the basis of the enactment of the Investments and Securities Decree No. 45 1999 by the regime of General Abdulsalam Abubakar. To address the criticism of the lack of statutory basis for the AHC under the new ISA 99, SEC was given the power to [...]
BlackRock Inc.’s first-quarter net income rose 24% but failed to meet analysts’ expectations, as investors withdrew money from the firm’s core bond funds to put into lower-fee cash investments.
While the company posted earnings of $1.82 a share, Investment Banking up from $1.48 a share, a year earlier, analysts surveyed by Thomson Financial forecast on average [...]
April 1 Prime Minister Gordon Brown said the U.K. government will help first-time homebuyers and take steps to combat a surge in credit costs, the latest effort to regain voters’ confidence in his handling of the economy.
Brown said Britain has asked global financial regulators to meet more regularly and for banks to disclose losses more [...]
n its March 11 editorial, “Rethinking state bond ratings,” The Times editorial board suggested that because state and local governments default on their obligations less often than corporations do, all bonds issued by governmental entities should automatically receive high ratings from credit rating agencies such as Standard & Poor’s (S&P). Several officials made the same [...]
Commercial banks, a national financial bedrock, are subject to regulations, including bank examinations and rules for submitting detailed financial information, to help regulators gauge their safety and soundness.
However, the modern U.S. financial system has become a complex web of financial players: institutions and individuals and practices that are subject to widely different rules.
[...]
Commercial banks, a national financial bedrock, are subject to regulations, including bank examinations and rules for submitting detailed financial information, to help regulators gauge their safety and soundness.
However, the modern U.S. financial system has become a complex web of financial players: institutions and individuals and practices that are subject to widely different rules.
[...]
“This latest episode has highlighted that the world has changed as has the role of other nonbank financial institutions and the interconnectedness among all financial institutions,” Paulson said. “These changes require us all to think more broadly about the regulatory and supervisory framework that is consistent with the promotion and maintenance of financial stability,” [...]
Commercial banks, a national financial bedrock, are subject to regulations, including bank examinations and rules for submitting detailed financial information, to help regulators gauge their safety and soundness.
However, the modern U.S. financial system has become a complex web of financial players: institutions and individuals and practices that are subject to widely different rules.
[...]
