Wall Street – News Stories About Wall Street - Page 17

Sen. Sanders Puts Hold on Bernanke Nomination

Dec 2, 2009 7:23 PM CST

Sen. Sanders Puts Hold on Bernanke Nomination

Independent's move could force Dems to scrape up 60 votes

(Newser) - Saying that Ben Bernanke is too tied to the roots of the current financial crisis and too beholden the institutions that helped cause it, Sen. Bernie Sanders put a hold on the nomination process for a second term for the Federal Reserve chief. The Vermont independent’s move—not much...

Bank of America Will Repay $45B TARP Loan

Dec 2, 2009 5:07 PM CST

Bank of America Will Repay $45B TARP Loan

Move will help bank rid itself of government restrictions

(Newser) - Bank of America is joining the ranks of banks that have repaid their TARP loans. The bank will repay $45 billion to the Treasury Department to begin ridding itself of restrictions on pay and other matters. BofA plans to raise $20 billion in capital to beef up its reserves and...

Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah

NO DIMON IN THIS ROUGH

Nov 23, 2009 10:00 PM CST

Bloggers on JPMorgan Chase CEO Replacing Geithner: Nah

Jamie Dimon not in tune with Obama, too invested in big banks

(Newser) - A report today that JPMorgan Chase CEO Jamie Dimon has the inside track to replace Timothy Geithner as Treasury Secretary is getting mostly guffaws online, with even the conservative Wall Street Journal admitting that Dimon’s way too much an insider for the job just now. Indeed, chuckles Daniel Indiviglio...

Goldman Bonuses
Irk Investors, Too

Nov 20, 2009 7:35 AM CST

Goldman Bonuses Irk Investors, Too

Shareholders question need for $20B in bonuses

(Newser) - With Goldman Sachs on course to hand out the highest bonuses in its history, it's not only furious populists who are complaining; investors, too, are getting into the act. Major shareholders, who have stayed out of the executive compensation controversy until now, are calling for the bank to cut back...

Disgruntled Dem Wants Geithner, Summers Sacked

Nov 19, 2009 10:42 AM CST

Disgruntled Dem Wants Geithner, Summers Sacked

Peter DeFazio says White House betrayed Main St. for Wall St.

(Newser) - Rep. Peter DeFazio wants Barack Obama to fire the Larry Summers and “Timmy Geithner” for being Wall Street lap dogs, and says there’s a “growing consensus” in the Progressive Caucus that agrees with him. Summers and Geithner oppose a Progressive proposal to use unspent TARP funds to...

Goldman to Insurers:
Health Reform Will Hurt

best plan is no plan

Nov 13, 2009 9:48 AM CST

Goldman to Insurers: Health Reform Will Hurt

Who knew Wall Street and teabaggers could agree?

(Newser) - Here's a reason for Goldman Sachs to be even more popular with the public: The investment bank has issued research on private health insurers advising that fighting off reform would best for their bottom line. Goldman takes as the “base” case passage of the bill that exited the Senate...

AIG's Benmosche:
I'm Not Quitting

Nov 11, 2009 3:00 PM CST

AIG's Benmosche: I'm Not Quitting

CEO is 'committed' to firm's employees

(Newser) - AIG CEO Robert Benmosche isn’t fed up with running a government-controlled insurance giant after all: Backing away from his threat to quit, Benmosche said today that he remains "totally committed” to the company. The CEO conceded, however, that he and the board “are indeed frustrated” with the...

Jury Clears Fund Managers
in Bellwether Case

Nov 10, 2009 5:29 PM CST

Jury Clears Fund Managers in Bellwether Case

Bear Sterns execs accused of fraud go free

(Newser) - Two Bear Stearns executives who ran hedge funds that collapsed after betting heavily on the shaky subprime mortgage market were acquitted today of lying to investors—a defeat in the government's bid to punish fraud exposed by the financial crisis. The closely watched case was the first one against Wall...

Times Star Sorkin: Too Cozy With
Wall Street?

Nov 9, 2009 12:21 PM CST

Times Star Sorkin: Too Cozy With Wall Street?

Colleagues clash with Too Big to Fail author

(Newser) - Andrew Ross Sorkin isn't the only entrepreneurial writer in the New York Times stable, but he might be the most successful, with his DealBook blog and newsletter, his Times column, and now his bestseller, Too Big to Fail making him ubiquitous in the media these days. “It’s hard...

Goldman's
Blankfein
Is 'Doing
God's Work'

masters of the universe

Nov 8, 2009 2:34 PM CST

Goldman's Blankfein Is 'Doing God's Work'

A look behind the scenes at the omnipresent bank

(Newser) - Lloyd Blankfein likes to say he's "attained perfection," a plausible-sounding assertion now that Goldman Sachs has repaid its TARP funds and is dishing out mammoth bonuses. "I don’t want to put a cap on their ambition," the CEO says of his employees. "It’s...

14 Charged as Galleon Insider Trading Case Widens

Nov 5, 2009 1:13 PM CST

14 Charged as Galleon Insider Trading Case Widens

Feds finger Rajaratnam associates, lawyer

(Newser) - Two former Galleon Group employees and a Ropes & Gray lawyer were among 14 people charged today in the expanding insider trading case surrounding the hedge fund founded by Raj Rajaratnam, who was busted last month. The traders and lawyers snuck around, communicating in code over throwaway cellphones, but had...

Wall Street Bonuses to Jump 40%

Nov 5, 2009 7:54 AM CST

Wall Street Bonuses to Jump 40%

Expect political storm as recovery juices incentive pay

(Newser) - The good times are back for much of Wall Street, with overall incentive pay set to jump 40% according to one key survey being released today. In businesses rebounding especially well, like fixed income and equities, the boost will likely be around 60%. That won’t quite bring them back...

Geithner
to Bankers:
Crackdown
Is 'War'

Oct 28, 2009 7:30 AM CDT

Geithner to Bankers: Crackdown Is 'War'

Treasury secretary tells Wall Street it must accept regulation

(Newser) - Tim Geithner had tough words for Wall Street bankers yesterday, telling the financial industry's annual conference that they had no credibility to protest new regulation. The Treasury secretary said government had a responsibility to crack down on dangerous practices on the Street and design new laws allowing seizures of institutions...

New Pay Rules May Hurt Banks, but Protect Public

Steven Pearlstein

Oct 23, 2009 8:33 AM CDT

New Pay Rules May Hurt Banks, but Protect Public

They'll discourage commercial banks from being investment banks

(Newser) - Steven Pearlstein isn't exactly wowed by the new salary rules being proposed for Wall Street. "Don't get carried away. By themselves, these measures won't prevent future crises, nor will they likely do much to lower the prevailing pay levels on Wall Street or in corporate America." But, he...

Don't Fight Reform, Obama Warns Wall St. at NYC Dinner

Oct 20, 2009 9:15 PM CDT

Don't Fight Reform, Obama Warns Wall St. at NYC Dinner

Still, president reminds finance industry, 'we're in this together'

(Newser) - At a fundraising dinner tonight in New York attended by (among others) the sorts of financial types who could afford the $30,400-per-couple entry fee, President Obama wagged a finger at Wall Street. “I would ask that you join us in passing what are necessary reforms,” he said...

Dow Falls 51 on Housing

MARKETS

Oct 20, 2009 3:19 PM CDT

Dow Falls 51 on Housing

Coca-Cola, DuPont earnings disappoint

(Newser) - Stocks fell today on disappointing earnings and a poor housing report. The market got off to a weak start when numbers on new-home construction were weaker than expected. Poor earnings reports from DuPont and Coca-Cola didn’t help, though Caterpillar, which posted a less severe profit drop than expected, boosted...

Wall Street
Cools to Dems Despite Bailout

Oct 20, 2009 6:10 AM CDT

Wall Street Cools to Dems Despite Bailout

Financial regulation tough talk hurting donations

(Newser) - Some gratitude: Wall Street’s top firms will largely sit out Barack Obama’s lavish Democratic Party fundraiser in New York tonight, with Goldman Sachs, JPMorgan and Citigroup sending a scant half-dozen representatives or fewer. Some Democratic fundraisers and executives tell the New York Times that bailout banks are afraid...

Obama Bigwigs
Take Aim at
Wall Street

Oct 19, 2009 12:18 PM CDT

Obama Bigwigs Take Aim at Wall Street

Says execs can't have their bailouts, and their bonuses, too

(Newser) - Wall Street is getting ready to hand out some hefty bonuses, and the Obama administration is already crashing the party, with top aides loudly dressing down execs, framing them as would-be fat cats who only last year were on the public dole. "The bonuses are offensive," says David...

Look Out, Wall Street:
Feds Using Wiretaps Now

Oct 17, 2009 1:04 PM CDT

Look Out, Wall Street: Feds Using Wiretaps Now

Insider trading case against Galleon is first to use the tactic

(Newser) - The bad boys of Wall Street better watch their mouths. Federal prosecutors used wiretaps to make their case against hedge fund giant Raj Rajaratnam this week, and they plan to use them again in similar investigations. Wiretaps may be common when going after the mafia, say, or terrorists, but their...

Once-Reserved Goldman Turns on the Charm

Oct 15, 2009 3:35 AM CDT

Once-Reserved Goldman Turns on the Charm

Ahead of record result, normally reticent bank puts on a smile

(Newser) - Today's the day: Goldman Sachs is set to announce record profits in the third quarter, projected at $2.17 billion, and with it a compensation pool larger than Wall Street has ever seen. But the golden bank knows a PR disaster when it sees one—and has been mounting a...