Jul 16 Watch News Wrap: Stocks Tumble on Consumer Sentiment, Earnings Numbers In other news Friday, U.S. stocks fell after a reading of consumer sentiment fell sharply and investors were disappointed by earnings reported by Bank of America and Citigroup. Also, federal officials announced the largest-ever crackdown on Medicare fraud. Continue watching
Jul 16 Watch Potential Risks of Buying Companies on Borrowed Money Examined As part of his ongoing series of reports on making sense of economic news, Paul Solman looks at what happens when private equity firms use borrowed money to buy companies. Continue watching
Jul 16 Watch Was Record Settlement Against Goldman Sachs a Good Deal for Company? Accused by the Securities Exchange Commission of civil fraud, Wall Street behemoth Goldman Sachs agreed this week to a record $550 million settlement, but did not admit to or deny the SEC's allegations. Jeffrey Brown speaks with experts about whether… Continue watching
Jul 15 Obama Praises Financial Reform, Calls Oil Stoppage a 'Positive Sign' By News Desk President Obama spoke to reporters this afternoon, praising the Senate's passage of a financial reform bill and offering brief comments on BP's test of a cap over its broken wellhead, which has temporarily stopped the flow of oil. Continue reading
Jul 15 Goldman Sachs, SEC Reach $550 Million Settlement The Securities and Exchange Commission has reached a $550 million settlement with Goldman Sachs in its case accusing the company of misleading investors in mortgage-backed securities, the agency said in a statement. "This record-setting settlement… Continue reading
Jul 15 Senate Passes Financial Reform Bill Paul Solman: The senate vote guaranteeing the adoption of the financial reform bill is either good or bad, depending on your politics. But no question it tries to address the major issues that seem to have triggered the economic… Continue reading
Jul 15 Senate Passes Financial Reform Overhaul Updated 2:57p.m. ET The Senate gave final approval to a financial reform bill Thursday, voting 60-39 to send the measure to President Obama for his signature. Posted 1:05p.m. ET The Senate cleared a sweeping financial reform bill for final… Continue reading
Jul 15 Thursday: Vote on Financial Reform Nears; BP Set to Proceed on Cap Test The U.S. Senate is planning a final vote Thursday on a sweeping overhaul of financial regulations. At least three Republicans, 55 Democrats and two independents are expected to support the bill, providing the 60 votes needed to overcome… Continue reading
Jul 15 Watch News Wrap: Goldman Sachs Agrees to Settle Civil Fraud Charges In other news Thursday, Wall Street giant Goldman Sachs agreed to pay $550 million to settle civil fraud charges brought by the SEC. Continue watching