Dec 11 Financial Regulatory Overhaul Passes House In a vote of 223-202, the House passed sweeping changes Friday afternoon to the way the financial system is regulated, with the creation of a new consumer watchdog agency, new authority for the Fed to police financial firms, and a… Continue reading
Dec 09 UK Imposes One-Time, 50% Tax on Banker Bonuses British bankers' bonuses will be a lot lighter this holiday season, thanks to a one-time, 50 percent tax imposed on bank bonuses, announced Wednesday by Britain's chancellor of the Exchequer, Alistair Darling. Bonuses greater than 25,000 British pounds (about… Continue reading
Dec 03 Tough Criticism for Bernanke By Carolyn O'Hara Federal Reserve Chairman Ben Bernanke faced tough criticism Thursday from a Senate committee for the central bank's failure to regulate risk-taking on Wall Street. Continue reading
Jun 18 How Will the Regulatory Reforms Affect Consumers? Paul Solman: We asked a number of people in the personal finance business and others close to the credit crisis to weigh in on the Obama administration’s new consumer protection proposal. I’m struck by Doug Elliott’s admonitions, especially his last… Continue reading
Apr 20 Watch Banking Industry’s Uncertain Future Puts Investors on Edge Stocks tumbled Monday on skepticism over financial sector earnings, despite a better-than-expected earnings report from Bank of America. A reporter updates the state of the banking sector. Continue watching
Apr 20 How Should We Interpret the String of Positive Earnings Reports from U.S. Banks? Question: After three major banks – Citigroup, JP Morgan, and Goldman Sachs – announced better-than-expected earnings last week, Bank of America announced more than $4 billion in first-quarter profits today. How should we interpret this string of good earnings reports?… Continue reading
Mar 23 The Toxic Asset Plan Explained By Business Desk After the Treasury Department released its plan today to rid banks of so-called “toxic assets” by enticing private investors to partner with the government, Paul Solman answered questions on the basics of the plan. What exactly are… Continue reading
Mar 19 Is the Federal Reserve Public or Private? By Business Desk Question: Is the Federal Reserve “federal” as the name implies, or is it as “federal as Federal Express,” meaning a private, for-profit corporation? I’ve heard it both ways and would like the answer clarified by a hard-hitting reporter whose willing… Continue reading
Mar 18 Watch Author Discusses Bankers’ Role in the Great Depression Author Liaquat Ahamed explores the role of bankers leading up to the Great Depression in his book, "Lords of Finance: The Bankers Who Broke the World."… Continue watching
Dec 18 Are Banks Really Making Short Term Loans to Other Banks for Zero Interest? Question/Comment: When people speak of the Fed funds rate being zero, does that mean that banks are literally making short-term loans to other banks for NO INTEREST WHATSOEVER?… Continue reading