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SECURITIES AND EXCHANGE COMMISSION HOLDS A CCOUTREACH NATIONAL SEMINAR FOR INVESTMENT ADVISER AND INVESTMENT COMPANY CHIEF COMPLIANCE OFFICERS, PANEL ON "COMPLIANCE CHALLENGES FROM THE SUBPRIME CRISIS"

Article from: Political Transcript Wire Article date: November 18, 2008

SECURITIES AND EXCHANGE COMMISSION HOLDS A CCOUTREACH NATIONAL SEMINAR FOR INVESTMENT ADVISER AND INVESTMENT COMPANY CHIEF COMPLIANCE OFFICERS, PANEL ON "COMPLIANCE CHALLENGES FROM THE SUBPRIME CRISIS"

NOVEMBER 13, 2008

SPEAKERS: DOUGLAS SCHEIDT, AD, DIVISION OF INVESTMENT MANAGEMENT, SECURITIES AND EXCHANGE COMMISSION DAVID MUELLER, ARD, CHICAGO REGIONAL OFFICE, SECURITIES AND EXCHANGE COMMISSION

TOD SPILLANE, ...

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Las Vegas Sands Nears Bankruptcy

Posted Nov 7, 08 4:11 AM CST in US,  Business 

Las Vegas Sands Nears Bankruptcy
Source: PRNewsFoto/BestOfVegas.com

(Newser) – Casino giant Las Vegas Sands is on the verge of bankruptcy, reports the Las Vegas Sun. The company, which owns the Venetian and Palazzo casinos in Las Vegas and has several gambling resorts in development around the world, filed paperwork with the federal government yesterday declaring that the Sands’ ratio of debt to earnings has fallen out of compliance with its lenders’ requirements.

The announcement—usually seen as the first step to declaring bankruptcy—confirms a precarious financial situation that investors have been aware of for some time. The company’s massive debt and ambitious growth plan have made it especially vulnerable to the financial crisis, which is affecting the entire gaming industry. The Sands’ shares have fallen 90% over the last year, and dropped 33% on news of the possible bankruptcy.

More about:  Financial Crisis • SEC • casino • Las Vegas Sands Corp. • Venetian

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More about:  Financial Crisis • SEC • Obama administration • regulation • Alan Greenspan • Robert Rubin • oversight • derivatives market • auction-rate securities • SEC commissioners

Interview

SEC Chair:
At Least
I Didn't Panic

Cox defends record; failure to nab Madoff an 'inexplicable asterisk'

Washington Post Washington Post Dec 24, 08 8:56 AM CST
(Newser) - Christopher Cox is proud that he’s done next to nothing in the face of the financial meltdown. “What we have done is stay calm, which has been our greatest contribution,” he told the Washington Post , contrasting that with the Fed and Treasury’s frantic machinations. Yes, the investment banking industry died on his watch, but protecting it wasn’t his job, he says. “The SEC is not a safety and soundness regulator.” More »

More about:  Financial Crisis • SEC • Bernard Madoff • regulation • bank regulation • Christopher Cox

 Obama Taps 
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Schapiro brings a wealth of experience to her new position

Wall Street Journal Wall Street Journal Dec 18, 08 12:32 PM CST
(Newser) - Barack Obama named Mary Schapiro as chair of the beleaguered SEC today, the Wall Street Journal reports. Schapiro's hefty resume includes stints as an SEC commissioner under former presidents Reagan and Bush, and another as acting commissioner in 1993 by Bill Clinton. Since then, Schapiro served on and eventually headed the National Association of Securities Dealers. More »

More about:  Financial Crisis • President Obama • SEC • Ronald Reagan • mortgage backed securities • George H. W. Bush • securities fraud • Mary Schapiro • NYSE Euronext


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