Mary L. Schapiro, the chairwoman of the Securities and Exchange Commission, said she believed that the agency's settlement practices had a deterrent value, but that repeat offenders were a problem.
For the commute home,- Reactions to Obama’s corporate tax proposal.- Calculated Risk on existing home sales and inventory.- Guerrilla libraries invade Manhattan phone booths....
American regulators charged two Chinese executives with defrauding investors of hundreds of millions of dollars by secretly stealing and selling the assets of Puda Coal.
Danny Meyer, whose New York restaurant empire includes Gramercy Tavern and Maialino, is moving in on the finance clientele that was offended by Mario Batali after the Croc-wearing food impresario made...
Wynn Resorts' board forced out Kazuo Okada, who owned a 19.66 percent stake. But now the company faces the prospect of a big legal fight.
A group of activists in Oakland are taking aim at Goldman Sachs over a rate-swap deal the city entered into with the bank, which critics say has already cost taxpayers $26 million. The group is asking...
As the board of the world's largest metal futures exchange prepares to meet on Thursday about eight offers, the chief executive, Martin Abbott, continues to plot the company's international expansion.
Even after getting burned by bad bets on Greek debt, some hedge funds are considering buying more of the country's bonds, which have continued to fall in value.
What on earth is going on with the TVIX ETN?Last week we pointed out that there has been a hugely unusual rush into the double volatility ETN — which is managed by VelocityShares...
Given the recent improving economic data in the US, the consensus likelihood of getting QE3 later this year seems to have gone from probable to uncertain.Obviously it all depends...
Samuel Zell, chair of Equity Residential, is bidding for a stake in Archstone, a huge, privately held apartment landlord jointly owned by the Lehman Brothers bankruptcy estate, Bank of America and Bar...
The use of collective action clauses in Greek bonds, as part of the country’s sovereign restructuring, seems set to trigger credit default swaps. For the $3.2bn of net notional...
Those in banking tend to take any sort of criticism of orderly liquidation authority as an insult, while many in the bankruptcy world draw unrealistic analogies between manufacturing plants and repos.
Are you feeling relieved that the whole CDS trigger debate for Greece might be over? Well, you may have been relieved too soon. There may well be a big, nasty hitch.A hitch...
Bank lobbyists could not kill the Volcker Rule, so they got Congress and regulators to render it hopelessly vague and complex.
President Obama to ask for corporate tax cut. Inquiry focuses on bank overdraft fees. Greek crisis puts a feared financial instrument back in the spotlight.
Johnson & Johnson has submitted concessions to the European Union in an effort to complete its $21.3 billion takeover of the Swiss-American medical tools maker Synthes.
No, not sovereign debt or something even vaguely related. We’re talking here about input from Her Majesty The Queen.Consider Lord James of Blackheath, speaking in the House...
The former chief executive and chairman of the failed Icelandic lender Kaupthing Bank were indicted on Wednesday on charges of fraud and market manipulation.
A British court on Wednesday rejected attempts by the Occupy London movement to appeal against the eviction of its campsite in front of St. Paul's Cathedral, located in London's financial district.
Highlights from the DealBook newsletter.
An arbitration panel has ruled in favor of the former sports agent Kyle Rote Jr. in his dispute over a $954,000 investment loss at two funds run by his former employer, the brokerage firm Morgan Keega...
Presenting, a public plea to portfolio managers from Kit Juckes, head of currency strategy at SocGen (our emphasis):I’ve attached a piece on month-end flows and pension...
The Consumer Financial protection Bureau has begun an examination of fees that banks charge consumers for overdrawn checking accounts. The bureau said Tuesday that its inquiry would center on whether...
We’ve discussed MMT’s recent foray into the mainstream, and the confusion it has consequently courted.But that’s the funny thing about the theory. It is naturally...
Courtesy of Nomura’s euro area economics and strategy team (click to enlarge):And as Nomura explains, in normal times……the level of ECB liquidity support...
Royal Dutch Shell has agreed to buy the oil exploration company Cove Energy for £992 million as it looks to expand into East Africa in search of new energy reserves.
A five-page article in the Washington Post by Dylan Matthews over the weekend, finally thrust the theory of Modern Monetary Mechanics into the mainstream.This was exciting news...
Markets Live chat transcript for the chat ending at 12:05 on 22 Feb 2012. Participants in this chat were: Paul Murphy Bryce Elder/FT PM MorningPM Welcome to Markets Live...
Some mildly positive PMI data from Markit this morning (published as the Bank of England’s minutes heaped praise on the readings’ accuracy - see page 3).Flash Eurozone...
Wednesday's debate will be critical in influencing the next three weeks in the Republican primary.
Anyone remember the EFSF’s ersatz CDS?They announced it back in November 2011. Another measure to eke the bailout fund’s resources out a bit more in a bad patch of the eurozone crisis....
Elsewhere on Wednesday,- USA! USA!- WA! WA!- May Greece survive long enough to tell the tale.- Although the CDS trigger looks a cert- A template for future European sovereign restructurings....
Comment, analysis and other offerings from Wednesday’s FT, Martin Wolf: Prepare for a golden age of gasThe world is in the midst of a natural gas revolution, writes the FT’s Wolf....
Any attempt at restoring monetary freedom must be part of a comprehensive plan to roll back government.
It seems that investors have been increasingly losing confidence in banks' ability to live up to their payment obligations under "normal" market conditions and to generate sufficient profits going for...
Breaking pre-market news on Wednesday,– Kevin Rudd resigns as Aussie foreign minister, expected to challenge Gillard for prime minstership – Bloomberg– Shell...
The legality of owning firearms resides firmly in the founding fathers’ crafting of the Second Amendment, but a patchwork of state and municipal gun laws threaten to undermine a citizen’...
Social media report: Mitt's Facebook content is aging, Newt leads on Twitter, Ron Paul is Steady Eddie. But it all pales next to Obama Online.
The Feb. 22 red carpet screening is part of the American Black Conservative Conference.
by Guy Somerset Ghosts were the first thing I remember frightening me as a child. Arthur C. Clarke once said, “Ghosts are at least as real as dreams.” This is the most intelligen...
by Steve Sailer Has the gender gap in interracial relationships changed over the decades? As an urbanite in the 1980s and 1990s in LA and Chicago, it was hard not to notice trends...
by Bruce Cochran CASTING STONES Oliver Stone’s son has converted to Islam and is now the righteous Sean Ali Stone. The young Stone adopted his new religion last week in a bid to fo...
The $172 billion bailout of Greece may set off the credit-default swaps on that country's debt, even though Europe is trying to avoid activating them.
The Volcker Rule may create a divided world where the old investment banks are challenged by upstarts that are not limited by the rule.
The banking analyst Meredith Whitney has signed a deal with Portfolio, an imprint of Penguin Group, to write a book about the growing problems in the municipal bond market.
BNP Paribas' North American energy loan business holds about $9.5 billion worth of financing commitments, with about $3.9 billion that has actually been lent out.
For the commute home,- Dow 13,000: pity party!- All it takes is 30 good, decent, human-selected stocks…- Bonus neurosis du jour, with Brian Moynihan.- Charting...
Charlie Bean of the Bank of England (deputy governor, monetary policy) has been brave enough to visit Glasgow, telling the Scottish Council for Development and Industry about...
A prominent Florida investor has sued Paulson & Company, alleging that the hedge fund did not conduct the proper due diligence when evaluating the investment in Sino-Forest.
The second half of last year was puzzling to anyone trying to understand future trends in US consumption. Or at least it was to us.Spending climbed more quickly than incomes,...
The reversal of the conviction of Sergey Aleynikov, a computer programmer accused of stealing trade secrets from Goldman Sachs, highlights how difficult it can be to figure out what is - and is not -...
BlueBay Asset Management, a British hedge fund, is being sued by a former employee over a lunch date, the Daily Mail reports. Fahim Imam-Sadeque, who left the firm last December, claims he was deprive...
Cue the already-deflating* bubble in a) people pointing out that the Dow hit 13,000, then b) people who point out the irrelevance of the Dow’s crossing 13,000, followed by...
The commercial real estate company Grubb & Ellis agrees to sell nearly all of its assets to BGC Partners, a firm run by Howard W. Lutnick, who is also the chief executive of Cantor Fitzgerald.
Europe agrees to a $173 billion aid package for Greece. Banks offer mortgage help, but there may not be anyone to explain how it works.
Some of them, at least. From the Greek finance ministry, and our own thoughts follow the excerpt:Co-Financing AgreementHolders of the New Bonds will be entitled to the benefit of,...
Greece's 130 billion euro bailout highlights the weaknesses in Europe's response to the sovereign debt crisis, problems that could flare up and undermine recovery efforts in countries like Italy, Spai...
The CME Group announced on Tuesday that it would increase its holdings in the Dubai Mercantile Exchange, delving deeper into a Middle Eastern oil trading business it helped create.
The Canadian utility Fortis agreed on Tuesday to buy the CH Energy Group in an all-cash deal valued $1 billion as part of its expansion into the United States.