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By Orrin G. Hatch
Procedural changes impede the chamber's traditional deliberative function
Topic - Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm which, until declaring bankruptcy in 2008, participated in business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking. It was a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries included Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group. The firm's worldwide headquarters were in New York City, with regional headquarters in London and Tokyo, as well as offices located throughout the world. - Source: Wikipedia
Henry M. Paulson Jr., the financial firefighter stationed at the epicenter of the biggest financial crisis since the Great Depression, worries that the nation is headed for another crisis because political leaders failed to learn critical lessons from the last one from 2008.
Several regulators have called recently for drastic changes in the money-market mutual-fund industry. Proposed "reforms" include abolishing the industry by getting rid of the stable $1 net asset value that is the essence of the product and requiring costly "capital buffers" that would tax investors far beyond any realistic estimates of risk.
Now that the Dow Jones industrial average has closed above 13,000, an all-time high is in sight — just 1,160 points away. But the coast is not quite clear for the markets or the economy.
The Dow Jones industrial average has closed above 13,000 for the first time since May 2008, four months before the financial crisis.
Last month's much anticipated release of the Financial Crisis Inquiry Report proved to be disappointing - not because of the report's findings, but because of its lack of breadth. The majority on the commission chose to follow the populist tides and delivered a politically popular but not inclusive report. This raises an important question: Are policymakers sacrificing an opportunity to remodel financial markets and revitalize the banking sector?
Artwork from doomed investment bank Lehman Brothers raised 1.6 million pounds ($2.5 million) at an auction in London Wednesday _ a tiny fraction of the $613 billion in debts held by the company when it collapsed.
Lehman Brothers may have blundered its way to disaster on Wall Street, but at least the bank's art curators knew what they were doing.
Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
The former chief of failed investment giant Lehman Brothers told a Capitol Hill panel investigating the financial crisis that the Wall Street firm could have been rescued, but regulators refused to help -- even though they later bailed out other big banks.
Corporations worried about the bottom line are taking a look at their office walls.
NEW YORK (Bloomberg) — Energy and financial shares yesterday rallied on prospects for higher earnings, carrying the stock market mostly higher for a second consecutive day.