A video of Bernard L. Madoff in 2007 telling a New York conference that fraud on Wall Street was “virtually impossible” may be shown to a jury in the trial of five of the con man’s former employees, a judge ruled.
When James Tobin joined President John F. Kennedy’s administration in 1961, the U.S. economy was struggling to recover from its third recession in seven years. As a member of Kennedy’s Council of Economic Advisers, the Yale University professor put his theoretical research on asset markets to work in fashioning a novel strategy -- nicknamed Operation Twist -- to reduce long-term interest rates.
Bernard L. Madoff used a process his inner circle called “schtupping” to boost the fake trading profit of the con man’s richest clients between Christmas and New Year’s, his former finance chief told a jury.
U.S. stock markets must prove that competition limits the fees they charge brokers and other firms for real-time quotation data, after a court rejected the Securities and Exchange Commission’s approval of charges proposed in 2006, a lawyer for Nasdaq OMX Group Inc. said.
Wall Street’s biggest bond traders are stockpiling Treasuries at the fastest pace since 2007 on speculation the Federal Reserve will announce a plan this week to buy longer-term debt to spur the faltering economy.
Treasury 30-year bonds surged, pushing the yields below 3 percent for the first time since 2009, after the Federal Reserve said it will purchase longer-term debt and sell shorter maturities to sustain the economic recovery.