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By Dave Gustafson
The U.S. government would be given broad new powers to shrink financial firms deemed "too big to fail" and shift the cost of rescuing troubled companies from taxpayers to other large firms, according to draft legislation released Tuesday.
The government has ordered seven firms that received billions in bailout money to dramatically cut compensation to their highest-paid employees.
Despite heightened scrutiny from both the public and regulators in the wake of the AIG bonus scandal, compensation on Wall Street is set for a record year in 2009. Jeffrey Brown reports.
In other news, Manuel Zelaya, the deposed president of Honduras, announced Monday he has returned to the country, and AIG repaid the federal government $60 billion.
A year after the U.S. government came to the rescue of insurance giant American International Group (AIG), the company has a new CEO and its share price is up. Yet the company's future remains uncertain.
Editor’s note: All this week on the Business Desk, we’ll be featuring contributions from economists, financial journalists, and other experts on the origins and impact of the financial crisis. Today, nearly a year after the collapse of Lehman Brothers…
By Carolyn O'Hara
A year after the collapse of Lehman Brothers set off one of the toughest weeks in Wall Street's history, President Barack Obama delivered a speech Monday outlining "the most ambitious overhaul of the financial system since the Great Depression."…
By Business Desk
Paul Solman: This week marks the anniversary of the collapse of Lehman Brothers and one of the most extraordinarily tumultuous weeks Wall Street has ever had. So, in reflecting on those events and the subsequent year, I thought I’d offer…
Federal Reserve Chairman Ben Bernanke offered an optimistic assessment of the U.S. economy's chances for recovery Friday in a much-anticipated speech to fellow central bankers and top economists.
“The metaphor of the perfect storm is inapt. The captain’s action does not influence the height of the waves. Fed Chairman Bernanke, in contrast, participated in making and implementing interventions that worsened the financial crisis last year.” – from…
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