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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: financial institutions

financial institutions stories: 38 news summaries

1 - 20 of 38 Stories | 1 2 Next >>

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Fed Rolls Out Plan to Limit Bank Pay

It works in tandem
with pay czar's new compensation rules

Oct 22, 09 3:15 PM CDT
(Newser) - The Federal Reserve today officially announced a plan to regulate pay structures at banks, the same day the pay czar rolled out his plan to cap salaries at bailed-out firms. The administration’s double-whammy on compensation marks an unprecedented level of government involvement in the private sector, and the policies... More »

MORE ABOUT:
executive compensation • Federal Reserve • bank • compensation • financial institutions • risk factors • Kenneth Feinberg

 Wall Street 
 Forking Out 
 Record Pay 

Pay at top firms expected to hit $140B as markets rebound

Oct 14, 09 5:36 AM CDT
(Newser) - Major financial firms have bounced back from the brink of meltdown and are on course to hand out their biggest-ever pay packages this year. The total payout at the big banks and securities firms will hit $140 billion this year, according to Wall Street Journal projections based on revenue figures... More »

MORE ABOUT:
Wall Street • executive compensation • Goldman Sachs • bank • financial institutions • executive bonuses

 US, Europe Clash 
 on Banking Reforms 

G-20 agreement on capital requirements likely to remain elusive

Sep 23, 09 4:16 AM CDT
(Newser) - The US and Europe are moving further apart on plans for post-financial crisis banking reform ahead of this week's G-20 summit, the Wall Street Journal reports. Both sides agree that banks should be required to keep more capital on hand to cushion them from crises, even at the cost of... More »

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capital • banking • financial institutions • G20 • bank regulation • financial crisis • Timothy Geithner

OPINION

 Meet Wall 
 Street's Most 
 Shameless 
 Failures 

'Mulligan Club' keeps hustling disastrous securities

Sep 2, 09 10:00 AM CDT
(Newser) - You'd think the men who hyped and traded the financial instruments responsible for the recession wouldn't be allowed to touch another dollar. Instead, they’re “charter members of Wall Street's Mulligan Club,” Steven Pearlstein writes in the Washington Post, buying and trading the same "crappy securities" like... More »

MORE ABOUT:
Wall Street • recession • securities • financial institutions • trading firm • RBS

 Troubled Securities 
 Threaten to Drown Banks 

Feds set to seize Texas' Guaranty

Aug 21, 09 10:48 AM CDT
(Newser) - Bad loans have been killing off banks at the fastest rate in 17 years—but now, securities purchased from other banks are a mounting threat, the Wall Street Journal reports. Thousands of banks nabbed securities dependent on mortgages and the financial industry. “Under most scenarios, they were good and... More »

MORE ABOUT:
bank • securities • mortgage backed securities • financial institutions • housing crisis • bank failure

(Newser) - The heat is apparently getting to Tim Geithner. At a meeting last week with high-level financial regulators, the treasury secretary indulged in a potty-mouthed diatribe about delays in the administration's highly touted plan to overhaul the regulatory system, declaring, "enough is enough," the Wall Street Journal reports.... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • SEC • profanity • Treasury Department • FDIC • financial institutions • swearing • Obama administration • Treasury secretary • Sheila Bair • Timothy Geithner • Obama Cabinet • Mary Schapiro • regulator • Securities and Exchange Commission • regulatory body • Neal Wolin

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 »

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

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

INTERVIEW

Obama Vows 'Light Touch' in Bank Regulation

Oversight measures
aim for 'minimum' to avoid meltdown

Jun 17, 09 6:07 AM CDT
(Newser) - Today Barack Obama will announce a major financial reform package that will give the Fed, Treasury, and FDIC new powers of regulation and oversight. It's the most substantial shift in financial regulations since the 1930s—but stops short of some of the most radical proposals, including tough limits on derivatives... More »

MORE ABOUT:
Barack Obama • Federal Reserve • derivatives market • Treasury Department • regulation • FDIC • financial institutions • bank regulation • banking industry • financial crisis

Obama to Launch Radical Bank Reform

Changes will be the most ambitious since the Great Depression

Jun 14, 09 9:51 AM CDT
(Newser) - President Obama will unveil next week sweeping new changes to the nation’s governance of troubled financial institutions, the AP reports. Unlike Washington’s temporary ownership stake in automakers and major financial companies, the new regulatory protocol will be permanent and will present the most ambitious revision since the 1930s.... More »

MORE ABOUT:
Barack Obama • private equity • Ben Bernanke • Federal Reserve • financial institutions • Great Depression • bank regulation • hedge funds • financial crisis

 From Ashes of Recession, 
 a Reshaped Fed Will Rise 

The Fed stands to gain some powers and lose others

May 18, 09 9:55 AM CDT
(Newser) - Among the myriad things that will be reshaped by the current economic crisis is the Federal Reserve, the Wall Street Journal reports. The steps the Fed has taken to stave off further economic turmoil have made it more vulnerable than it has been in years: If a lasting recovery takes... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • finance • recession • financial institutions • bailout • financial crisis • Economic Recovery Advisory Board

MARKETS

 Dow Off 156 as Rally Slows 


May 11, 09 3:10 PM CDT
(Newser) - Stocks were down today on continued sluggishness from hard-hit areas like financials, industry, and energy, the Wall Street Journal reports. Though the improving market has led to an influx of cash from investors, key indices for transportation and industry have lagged. The Dow was down 155.88, to 8,418.... More »

MORE ABOUT:
NASDAQ • New York Stock Exchange • Dow Jones • markets • financial institutions • S&P 500 • industrial • technology companies

(Newser) - Tim Geithner today proposed a major expansion of federal regulatory powers, reports the Washington Post. In testimony before Congress, the Treasury chief called for hedge funds, derivatives markets, private equity firms, and major insurers like AIG to be brought under strict federal supervision for the first time. His plan, which... More »

MORE ABOUT:
private equity • derivatives market • hedge fund • Treasury Department • financial institutions • bank regulation • Obama administration • financial crisis • Timothy Geithner

 Feds Seize 
 Wholesale Credit Unions 

Regulators move to stabilize credit union industry as condition reaches critical

Mar 21, 09 6:19 AM CDT
(Newser) - Federal regulators have taken control of two major wholesale credit unions, which provide services to thousands of credit unions nationwide, to stabilize the industry, Bloomberg reports. The institutions, which have combined assets of $57 billion, failed the so-called stress test, showing an unacceptably high level of risk from mortgage-backed securities.... More »

MORE ABOUT:
credit crisis • mortgage backed securities • financial institutions • credit unions • financial crisis • National Credit Union Administration

ANALYSIS

MBA Programs Face Their Role in Financial Crisis


Mar 17, 09 3:50 PM CDT
(Newser) - Executives have taken a lot of blame for the financial crisis, whether for focusing on short-term gains in stock price or placing too much faith in ultra-complex financial instruments, writes Bradford Plumer for the New Republic. But what about the business schools that taught them to manage that way in... More »

MORE ABOUT:
recession • business school • mortgage backed securities • MBA Programs • financial institutions • Indiana University • financial crisis • credit default swap

Bailout Firms Lobbied
Big Time for TARP Funds

Spending on charities, sponsored meetings topped $330,000

Feb 3, 09 1:53 PM CST
(Newser) - Several of the firms who would receive taxpayer funds from the TARP bailout spent money on meetings and charitable gifts that benefited lawmakers, the Hill reports. Fannie Mae and Freddie Mac, for example, donated $330,000 in the last 6 months of 2008 to politically affiliated charities. Bank of America,... More »

MORE ABOUT:
Bank of America • Treasury Department • Barney Frank • financial institutions • bailout • banks • Troubled Asset Relief Program • Wall Street bailout • TARP

I'd Rather Say I'm in Porn: Shunned Wall Streeter

Financial types feel they're unfairly 'vilified' in crisis

Feb 3, 09 9:31 AM CST
(Newser) - Working on Wall Street used to have glamor to it—but now, saying you work at JPMorgan or Goldman Sachs immediately establishes you as “one of them,” the New York Times reports. Wall Streeters are facing a new pariah status, and many believe they’re taking an unfair... More »

MORE ABOUT:
Wall Street • Goldman Sachs • bank • anger • financial sector • financial institutions • bankers • JPMorgan Chase • society • financial crisis • blame

Congress Wants to Boost Fed's Oversight Role

But giving the agency power could stretch it thin, expose it to politics

Jan 26, 09 9:01 AM CST
(Newser) - The Federal Reserve would become more powerful under a congressional plan to give it increased oversight of banks, investment firms, insurance companies, hedge funds, and other firms that have enough economic clout to affect the entire US financial system, reports the Washington Post. “We need to give some regulator... More »

MORE ABOUT:
Federal Reserve • Barney Frank • financial institutions • financial crisis • President Obama

MARKETS

 Bank Woes Push Dow Down 196 

JPMorgan Chase, Bank of America, Citigroup all see big drops

Dec 11, 08 3:23 PM CST
(Newser) - The markets slid today as JP Morgan’s CEO made pessimistic comments about home prices, the Wall Street Journal reports. Adding to investor malaise was a Labor Department report that unemployment insurance claims are at a 26-year high, and continued uncertainty about the Detroit bailout. The Dow was down 196.... More »

MORE ABOUT:
NASDAQ • Citigroup • Bank of America • New York Stock Exchange • General Motors • Ford • auto industry • financial institutions • S&P 500 • bailout • Dow Industrial • JPMorgan Chase • oil prices • financial crisis

Poll: Americans Back Economic Intervention

A growing majority blames financial crisis on deregulation

Dec 11, 08 6:14 AM CST
(Newser) - A clear majority of Americans approve of Washington taking firm steps to intervene in the nation's struggling economy, a Los Angeles Times poll finds. Two-thirds favor tighter restrictions on financial institutions and 60% back help for homeowners facing foreclosure. A huge 87% blamed deregulation for the economic crisis—up 25% ... More »

MORE ABOUT:
foreclosure • US government • US economy • financial institutions • free markets • bailout • deregulation • financial crisis

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