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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: financial sector

financial sector stories: 79 news summaries

1 - 20 of 79 Stories | 1 2 3 4 Next >>

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Thomas Frank

Financial Reform: How to Prevent Another Greenspan

Reform plans may hand regulation over to fervent deregulators

Nov 11, 09 9:44 AM CST
(Newser) - There's a lot riding on reform of the financial industry, but the administration's plans to overhaul financial regulation carries the seeds of its own destruction, writes Thomas Frank. Taking oversight away from the present confusing array of agencies and making the Federal Reserve One Big Regulator means that when the... More »

MORE ABOUT:
Federal Reserve • Alan Greenspan • financial services • regulation • financial sector • bank regulation • deregulation

Hard Times Catch Up with Well-Heeled Jobless

Generous severance packages start to sputter

Nov 11, 09 7:07 AM CST
(Newser) - Time and money is finally beginning to run out for large numbers of people who lost their jobs, and have been living off hefty severance packages for up to two years. Many workers who received generous exit packages from the financial and auto industries kept on spending the way they... More »

MORE ABOUT:
unemployment • auto industry • financial sector • severance pay • auto worker

MARKETS

 Dow Ends Shaky Day Up 76 

Markets continue 7th day of wild variations

Nov 2, 09 3:09 PM CST
(Newser) - Stocks seesawed today as good economic data on industry and the housing sector drove big early gains, which then fell victim to selloffs in the financial sector, the Wall Street Journal reports.
  • The Dow climbed 76.71 points to close at 9,789.44.
  • Nasdaq tacked on 4.
... More »

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stock market • NASDAQ • New York Stock Exchange • housing market • Dow Jones • financial sector • S&P 500

DAVID BROOKS

 Get a  Clue, 
 Washington: 
 You Can't Do 
 Everything 

Effort to restructure exec pay smacks of arrogance

Oct 27, 09 5:10 AM CDT
(Newser) - Clamping down on arrogant, risk-taking execs with an overconfident attempt to overhaul private sector pay structures shows that the arrogance has migrated to the Obama administration, writes David Brooks. The government is trying to micro-manage compensation packages at a wide variety of firms when pay regulation should be done, humbly,... More »

MORE ABOUT:
executive compensation • Treasury Department • financial sector • David Brooks • Obama administration • financial crisis

NATE SILVER

Bank Reform Shatters Usual Party Lines

Next big domestic issue will be 'fascinating' to watch

Oct 22, 09 11:37 AM CDT
(Newser) - Once health care reform is “settled,” Nate Silver writes, the White House will be searching for a new domestic issue. Card check is too hard, immigration will have to wait for 2012’s “younger, more diverse electorate,” and gay rights is a slog. The winner, in... More »

MORE ABOUT:
finance • Republican Party • domestic policy • financial sector • Obama administration • banking industry • Nate Silver • President Obama • Tea Party • bank reform

Goldman Exec: Pay Inequality Is Good for All

Soaring Wall Street bonuses should be tolerated for economy's sake

Oct 21, 09 6:00 AM CDT
(Newser) - Believe it or not, lavish Goldman Sachs bonuses are good news for everybody, a company official told a discussion panel yesterday. The out-of-whack pay inequality will give the economy a kick in the pants, insisted the vice chairman of Goldman Sachs International. "We have to tolerate the inequality to... More »

MORE ABOUT:
executive compensation • Goldman Sachs • bank • bonuses • financial sector • executive bonuses

JPMorgan Earns $3.6B, Despite Loan Losses

Market soars as investment profits give bank strong 3rd quarter

Oct 14, 09 9:02 AM CDT
(AP) - JPMorgan Chase reported strong third-quarter earnings today as its thriving investment banking business more than offset rising consumer loan losses that the bank warned would continue. The company, the first of the big banks to report, showed a $3.59 billion profit, or 82 cents per share. But it also... More »

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stock market • Wall Street • earnings reports • corporate earnings • financial services • financial sector • JPMorgan Chase

 NYC Unemployment Hits 10.3% 

City given grant to help laid-off Wall Street workers retrain

Sep 18, 09 7:10 AM CDT
(Newser) - The Big Apple's unemployment rate hit double digits last month for the first time since 1993, the New York Times reports. At 10.3%, the rate is now higher than the national rate of 9.7%. State officials say continuing layoffs on Wall Street are to blame for the rise,... More »

MORE ABOUT:
Wall Street • New York City • recession • unemployment • financial sector • job training

Banks Get Back to
Risky Business as Usual

Plans to overhaul regulation losing momentum as banks return to health

Sep 9, 09 1:49 AM CDT
(Newser) - Banks that teetered on the edge of extinction last year are returning to their old ways as the shock of the financial crisis fades, the Wall Street Journal reports. The banks are handing out hefty compensation packages again and dealing in the same risky financial instruments that caused last year's... More »

MORE ABOUT:
Goldman Sachs • Morgan Stanley • bank • Lehman Brothers • regulation • financial sector • collateralized debt obligations • financial crisis

ANALYSIS

 Social Security Suffers 
 as Execs' Pay Soars 

Top-paid workers get a third of total US pay

Jul 21, 09 9:32 AM CDT
(Newser) - Executives and other employees earning top dollar pull in more than a third of all US pay, the Wall Street Journal finds—and the ceiling on compensation subject to payroll taxes hasn’t risen enough accordingly, meaning the government isn’t bringing in what’s needed to plug ever-growing holes... More »

MORE ABOUT:
executive compensation • Social Security • financial sector • financial institutions • executives • payroll taxes • taxation

(Newser) - The Federal Reserve is confident the general economy is turning around but still pessimistic on the jobs part, the Wall Street Journal reports. In June meeting minutes issued today, those gathered agreed that data since April “indicated that the economic contraction was slowing and that the decline in activity... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • unemployment • predictions • financial sector • economic crisis • minutes

MARKETS

 Stocks Tread Water; Dow Up 5 

Goldman Sachs rises, Pfizer falls

Jul 9, 09 3:12 PM CDT
(Newser) - The stock market indices swung back and forth across a narrow range today as financials enjoyed advances but the health care sector declined, the Wall Street Journal reports. Goldman Sachs was up 3.69% after Bank of American Merrill Lynch upgraded Goldman shares from “neutral” to “buy.”... More »

MORE ABOUT:
health care • Bank of America • Goldman Sachs • Dow Jones • Pfizer • Merrill Lynch • Nasdaq • financial sector • S&P 500

Wall Street
Aims to Give Itself a Facelift

Trade group mounts effort to counter 'populist overreaction'

Jun 25, 09 2:02 PM CDT
(Newser) - Wall Street’s top trade group is fighting to fix its image amid what it calls a “populist overreaction” to the financial crisis, Bloomberg reports. Top aides to former Treasury secretary Henry Paulson are leading the “city-by-city, grassroots” campaign focused on politicians and the media. The securities industry... More »

MORE ABOUT:
Wall Street • image • financial sector • financial institutions • financial crisis

OPINION

Obama's Bank Plan Punts on Tough Parts

Krugman, Pearlstein agree: It doesn't address key problems

Jun 19, 09 7:48 AM CDT
(Newser) - Barack Obama knows what caused the financial crisis, but his regulatory plan “basically punts on the question of how to keep it from happening all over again,” writes Paul Krugman in the New York Times. Obama’s plan takes the crucial step of regulating the “shadow... More »

MORE ABOUT:
Barack Obama • regulation • Paul Krugman • financial sector • bank regulation • Obama administration • banking industry • Steven Pearlstein

MARKETS

 Health Care Nudges Dow Up 58 


Jun 18, 09 3:11 PM CDT
(Newser) - Markets were up today on a strong performance from the volatile financial sector and continued gains for health-care stocks, the Wall Street Journal reports. Investors are confident that President Obama's health reform will be whittled down, leaving room for industry profits. The Dow was up 58.42, to 8,555.... More »

MORE ABOUT:
stock market • NASDAQ • New York Stock Exchange • Dow Jones • health care industry • health care reform • financial sector • S&P 500 • Obama administration • President Obama

OPINION

On Financial Reforms, Obama Is No FDR

Proposed regulatory fixes don't actually fix much: Nocera

Jun 18, 09 12:02 PM CDT
(Newser) - President Obama is hardly living up to the hype on fiscal regulatory reform, and he's not matching Franklin Roosevelt, either. When FDR reformed financial regulation, he transformed the industry, cheerfully making enemies in the process. Obama has been timid by comparison, writes Joe Nocera of the New York Times:... More »

MORE ABOUT:
Barack Obama • Wall Street • reform • regulation • Franklin D. Roosevelt • financial sector • bank regulation • Obama administration • banking industry

MARKETS

 Obama Plan Puts Dow Off 7 


Jun 17, 09 3:11 PM CDT
(Newser) - Markets were mixed today as a perky health-care sector was held in check by poor performance in energy stocks and wariness over President Obama’s financial regulatory plan, the Wall Street Journal reports. Oil and commodities prices slipped as investors seemed to gird for a continued lull in consumer activity.... More »

MORE ABOUT:
stock market • NASDAQ • Dow Jones • financial sector • S&P 500 • bank regulation • oil prices • Obama administration • President Obama

MARKETS

 Dow Adds 19 on Housing News 


Jun 2, 09 3:14 PM CDT
(Newser) - Good news from the housing sector outweighed bank troubles today for Wall Street, the Journal reports. Manufacturer Alcoa tacked on 6%, and a housing-industry group said sales in April made the biggest jump in 8 years. Financials fell after more banks announced plans to pay back TARP loans through stock... More »

MORE ABOUT:
stock market • NASDAQ • New York Stock Exchange • Dow Jones • Alcoa • financial sector • S&P 500 • Dow Industrial • housing sector

 CIA Wants You, I-Banker 


May 28, 09 3:50 PM CDT
(Newser) - The CIA is looking for a few good bankers to track down millionaire bad guys and stymie financial terrorism, the New York Post reports. Ads on Bloomberg Radio ask money whizzes to use their “intelligence for the work of a nation.” The $160,000 salary will probably be... More »

MORE ABOUT:
Wall Street • CIA • recruitment • hedge fund • investment bankers • financial sector • terrorism financing • professional

MARKETS

 Dow Off 15 Despite Retail News 


May 22, 09 3:13 PM CDT
(Newser) - A strong retail sector and defensive buying ahead of the holiday weekend couldn’t correct a general malaise that left markets down slightly today, the Wall Street Journal reports. Sears was up 12% on a Q1 profit. Little movement in financials was welcome to some who believe the sector is... More »

MORE ABOUT:
NASDAQ • New York Stock Exchange • Dow Jones • financial sector • Sears • S&P 500 • Memorial Day • gasoline prices • holiday weekend

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