In April, the multibillion-dollar hedge fund Paulson & Co. was cited in a blockbuster Securities and Exchange Commission civil fraud suit against Wall Street investment bank Goldman Sachs. The SEC complaint alleged that Paulson helped build investment vehicles predicated on rising real-estate prices — and then bet against them, More…
He was practically a fixture on Capitol Hill during the Wall Street bailout debate and subsequent oversight discussions. But Ken Lewis, CEO of Bank of America, is set to retire at the end of the year.
Lewis and BoA have been in hot water over their government-backed deal to More…
Just a few days after Federal Reserve Chairman Ben Bernanke testified before House lawmakers about his role in Bank of America’s controversial buyout of Merrill Lynch, House Oversight and Government Reform Chairman Edolphus Towns (D-N.Y.) announced that former Treasury Secretary Henry Paulson will be the next official to take the More…
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Three weeks after the Federal Reserve threw an $85-billion lifeline to the American International Group, the Fed gave another loan Wednesday to the world’s biggest insurer. This extra money could total $37.8 billion. An AIG spokesman said the second lifeline is necessary to deal with an “extraordinary situation in the More…
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