One of the oft-repeated justifications for why Wall Street must be regulated by Wall Streeters is that what goes on there is both so complex and so essential that only those who have been part of it can be trusted to oversee it.
Here’s the big question for Mary Jo White: If she becomes chairman of the Securities and Exchange Commission, where will her interests lie? With the public that pays her salary? Or with the people handing her the big bucks?
Mary Jo White, President Barack Obama’s nominee to lead the U.S. Securities and Exchange Commission, said she will avoid some matters involving firms including JPMorgan Chase & Co., General Electric Co. and Deloitte & Touche LLP if confirmed by the Senate.
Galleon Group LLC co-founder Raj Rajaratnam, at the center of largest crackdown on hedge-fund insider trading in U.S. history, didn’t take the witness stand as jurors heard one last wiretapped recording in his trial.
When talk-show host Oprah Winfrey handed a $1 million check last September to the principal of New Orleans Charter Science and Math Academy, 200 students watched the broadcast from a church and celebrated with a brass band.
Lend Lease Group, Australia’s biggest property developer, signed agreements with Westpac Banking Corp. and KPMG LLP to lease 71 percent of space in the first two office towers at its Barangaroo South financial precinct in Sydney.
Westfield Group, the world’s biggest shopping center operator by assets, will sell eight malls in the U.S. for $1.15 billion, using the funds to repay debt and invest in businesses offering higher returns.