President Franklin D. Roosevelt set the standard for the first 100 days in office with an unprecedented whirlwind of legislative activity that sought to make good on his pledge for “action and action now” to combat the Great Depression.
When President Barack Obama signed the Dodd-Frank financial reform bill on July 21, he capped a year-long legislative battle to stop $1.8 trillion in global financial writedowns and losses from happening again.
One of the great debates to emerge from the financial crisis is whether the U.S. Congress should resurrect some form of the Depression-era Glass-Steagall Act and bring back the separation of commercial and investment banking. It should, but not for the reasons usually cited.
Securities and Exchange Commission guidelines on when companies should disclose cyber-attacks have become de facto rules for at least six companies, including Google Inc. and Amazon.com Inc., agency letters show.
The criminal investigation of Goldman Sachs Group Inc. by the Manhattan District Attorney’s Office has at its disposal a 90-year-old New York law that makes it easier for state prosecutors to bring charges than their federal counterparts.
With the ink barely dry on the Financial Crisis Inquiry Commission ’s assessment of the 2008 market meltdown, the group is turning to other pursuits: infighting and preparing for congressional investigations.
U.S. Securities and Exchange Commission investigators may issue a public rebuke of Lehman Brothers Holdings Inc. and its former executives instead of suing them for actions that led to the firm’s 2008 failure, three people with direct knowledge of the matter said.
Whenever the leadership class feels nervous, you can count on some of them to offer the less-moneyed masses a bone to demonstrate they care. Warren Buffett says his idea of “shared sacrifice” is higher taxes on the super-rich. Only for him, this wouldn’t cost much.