The investigation into disgraced financier Bernard Madoff’s Ponzi scheme is taking a new turn, as the Securities and Exchange Commission begins investigating whether some of Madoff’s biggest “victims” actually were in on the scam, The Wall Street Journal reports.
Some of the victims apparently were able to state the More…
Just reported by The Washington Post: R. Allen Stanford, head of the Houston-based Stanford Financial Group, has been charged by the Securities and Exchange Commission “with fraud in the sale of $8 billion of certificates of deposit, one of the largest alleged financial frauds in U.S. history.”
Yikes!
In the face of the deepening financial crisis and the largest Wall Street swindle in history, President-elect Barack Obama acted swiftly to fill three key economic posts. He announced his appointments at a press conference this morning in Chicago.
“The regulators who were assigned to oversee Wall Street dropped More…
President-elect Barack Obama is confronting a cascading economic crisis, which seems to worsen by the day, not the week. As venerable banking houses collapse, once-mighty industries teeter on the brink of oblivion and unemployment mounts, the air thickens with recollections of the Great Depression of the 1930s, and comparisons between More…
PHOENIX—Lost amid the Senate’s Wednesday night passage of a $700-billion Wall Street bailout plan was an effort by Sen. John McCain and others to “fix” an accounting rule that they believe has helped create the crisis.
The Securities and Exchange Commission and the Financial Accounting Standards Board, or FASB, on More…
Addressing the current Wall Street crisis before an audience in Cedar Rapids, Iowa, Sen. John McCain announced a new proposal for preventing the future collapse of huge financial institutions in the future.
From McCain’s prepared remarks:
In a speech in Cedar Rapids, Iowa today, Sen. John McCain said that if he were president, he would fire Chris Cox, the current chairman of the Securities and Exchange Commission, which is charged with regulating the stock market. From McCain’s prepared remarks:
rss