Although there were numerous investigations into the supposed causes of the Flash Crash, including by Congress, the Securities and Exchange Commission and the Commodities Futures Trading Commission, none have been very convincing. Those lingering doubts have now been disturbingly confirmed.
Federal Reserve chair Janet Yellen might be the Boss at the US's top financial regulatory agency, but she's not getting paid like one.
WASHINGTON, Oct 17 (Reuters) - The top 113 earners among staff at the Federal Reserve's Washington headquarters make an average
I had a conversation years ago with Grigory Yavlinsky, who lost to Putin in Russia's 2000 presidential election. When I asked what Putin was like, Yavlinsky said, "He has the mind of a mid-level KGB officer." That struck me as right then, and in the years since and especially in the last couple of months I think Yavlinsky has been proven right.
The treaty requires countries that ratify it to begin to work toward standards on accessibility and infrastructure for the disabled similar to our own. One hundred and thirty-eight countries have now ratified the convention. The United States is not among them.
Think of it as the story of two antagonists. One of them was an honest senator who came to Washington to fight corruption. The other is an arrogant banker who's so sure of his untouchability that he wore "FBI" cufflinks when he made a public appearance last month.
I have voted in 14 presidential elections since my first, in 1960. Each time the candidates or their surrogates have told me "this is the most important election of your lifetime." Well, this week we will finally have the election that actually fits that description.
"Biden likes contrasts and hasn't been shy on the stump," an Obama campaign official said. "He relishes the idea of being
As a former lobbyist, I almost had to admire the way they unswervingly stayed on message. And the message was that the status quo was good for everyone and that Ted and I were wasting our time exploring whether market changes might call for statutory and regulatory changes.
For those who want the Securities and Exchange Commission to fulfill its mission of protecting investors, the New Year brings more bleak reality.
Almost everyone I talk to privately in the financial industry says there are six mega-banks that should be broken up or subjected to greater regulatory constraints -- and that doing so wouldn't hurt the economy one bit. But they're all too scared to break ranks publicly.
The SEC's concern is well documented. After last month's flash crash, when the Dow Jones unexpectedly plummeted nearly 600
Early last year, as they weighed whether to bar banks from speculative trading with their own money, congressional staffers