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Another day, another crazy day for the markets, with the Dow down over 300 points this morning. As we footnoted on Friday, there was already some speculation in the filings about a downgrade. And as the WSJ reported here, the rumors that S&P would downgrade the United State’s debt rating were flying fast and furious [...]
You may have noticed that the markets were a little kerflooey yesterday, what with the Dow dropping over 500 points. And while they’re rebounding slightly this morning, there’s clearly a lot of nervous people out there. As the WSJ explains in this article a lot of the uncertainty is related to a guessing game over [...]
All eyes in official Washington are on the debt ceiling, that self-imposed borrowing limit that was technically reached on Monday. By temporarily halting federal retirement-fund investments, the day of reckoning — that is, absent an increase in the limit, the day the federal government would have to decide whether to default on its debt or [...]
Robert Khuzami made a splash, as intended, today when he announced the biggest Wall Street penalty in the SEC’s history, a $550 million deal with Goldman Sachs (GS). We’re just not sure the long-term view will be as kind. The blogosphere has been quick to blast the deal as too little, too soon. Goldman shares [...]
The long-anticipated Wall Street reform bill just passed the U.S. Senate and is heading for President Obama’s desk. It still has a number of the investor-protection and corporate-governance provisions we mentioned before, but we were recently reminded that even some of the headline issues — bank capital standards, systemic-risk oversight, derivatives regulation — have a [...]
