07/09/2012

JPMorgan Silence May Spur Calls for Disclosure

The U.S. Securities and Exchange Commission is probing JPMorgan’s belated May 10 disclosure that a change to its mathematical model for gauging trading risk helped fuel the loss in its chief investment office.

07/08/2012

US lawmakers signal deep "fiscal cliff" deadlock

In addition, $1.2 trillion in across-the-board reductions in spending on federal programs would begin to phase in as a result of Congress' failure late last year to find a comprehensive deal to cut the budget deficit.

07/03/2012

Banks Ask N.Y. Judge to Throw Out Libor Antritust Suits

Plaintiffs including the City of Baltimore and New Britain Firefighters’ Benefit Fund sued the banks in 2011, contending they “suppressed” the Libor -- a key metric to set interest rates for trillions of dollars in financial instruments.

07/03/2012

How the Big Banks Lost and Homeowners Won in California

The legislation, once signed by Governor Jerry Brown, could positively impact over 700,000 homeowners who are in the "foreclosure" pipeline. It's a BFD for California, but it may well be a BFD for the rest of the country.

07/03/2012

Ex-Lehman broker must pay $904,000 in bonus flap

A San Francisco-based broker must pay more than $904,000 to Lehman Brothers Holdings Inc, which has been aggressively clawing back bonus money that it paid to brokers before its demise in 2008.