JP Morgan CEO Dimon: No such thing as ‘too big to fail’
Major banks shouldn’t be considered “too big to fail” — regulators should have the power to close even the largest institutions, said JPMorgan Chase & Co. CEO Jamie Dimon.
Two programmers charged with helping Madoff falsify records
Two computer programmers who worked for Bernard L. Madoff’s investment firm were accused Friday of helping to cover-up the giant Ponzi scheme for more than for more than 15 years.
How Moody’s sold its ratings — and sold out investors
As the housing market collapsed in late 2007, Moody’s Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country into its worst financial crisis since the Great Depression.
U.S. said to target wave of insider-trading networks
Federal investigators may be gearing up to file charges against a wider array of insider-trading networks, some linked to the criminal case against billionaire hedge-fund manager Raj Rajaratnam that shook Wall Street last week.
‘End of the road’ for Joe Nacchio
“This is the end of the road for Joe Nacchio,” former U.S. Attorney Troy Eid said Monday after the Supreme Court rejected Nacchio’s request for a review of his insider-trading conviction.
Opportunity fuels skilled immigrants’ exodus
After 24 years in the United States, Tao Guo, a 46-year-old naturalized citizen, moved to Shanghai in December to take a high-level position at WuXi AppTec, which does research for pharmaceutical and biotechnology companies.
Rep. Cantor: No jobs, rising deficits mean stimulus failed
With the economy apparently well on the road to recovery, many economists and the White House are giving credit to the $787 billion stimulus package passed last February. But House Republican Whip Eric Cantor is steadfast in his view the package was a failure.
China warns trade penalties will hurt U.S. relations
President Barack Obama’s decision to impose trade penalties on Chinese tires has infuriated Beijing at a time when the U.S. badly needs Chinese help on climate change, nuclear standoffs with Iran and North Korea and the global economy.
