Wall Street's Woes Will Breed Cheaper Gadgets

No, although a couple were charged and some were embarrassed

(NEWSER) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian Palmer in Slate ’s Explainer column: “The rampant speculation and eventual crash of 1929 weren't caused by fraud or illegality, but by unreasonable optimism and loose financial regulation.” More»

Inquiry panel will name names on Thursday

(NEWSER) - It might finally be time to pay for a handful of Wall Streeters, as the Financial Crisis Inquiry Commission prepares to name names for possible prosecution, insiders tell the Huffington Post . The panel, which will release three separate reports on Thursday, is turning several cases over to state and federal authorities, who may prosecute. It’s a leap forward in the US response to the financial crisis, say people involved. More»

Citigroup hasn't learned its lesson from financial crisis

(NEWSER) - Have the big banks learned their lesson from the financial crisis? Not a chance, writes Charlie Gasparino in the Daily Beast . Citigroup’s recent attempt to bar a well-respected financial analyst from questioning its executives about accounting practices, plus new documents proving the bank’s top brass knew about its massive risk-taking, all prove that this “behemoth” still holds “contempt for the needs of investors and the American taxpayer.” More»

Economy picking up, but not enough that inflation is a worry

(AP) - The Federal Reserve says the recession is easing, but that the economy likely will remain weak and keep a lid on inflation. Against this backdrop, the Fed held a key bank lending rate at a record low of between 0% and 0.25%, and pledged again to keep it there for "an extended period" to help brace activity going forward. More»

Whole Foods shares worth less than a pound of scallops in their stores

(NEWSER) - Why settle for the goods when you can get the factory—or a piece of it—instead? Gawker finds more companies whose shares are worth less than products they sell:

• Have dreams of owning a brewery? Scoop up an Anheuser-Busch share ($20.16) for less than one Bud Light case.
• At $10.61, Gap isn't worth a pair of its own boxers.