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Unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.
A reserve fund must be established ahead of time to give the government the working capital it needs to dismantle large, troubled financial companies, a top U.S. bank regulator said on Tuesday.
Nov. 10 (Bloomberg) -- Senator Christopher Dodd proposed creating a single U.S. bank regulator and stripping supervision from the Federal Reserve and Federal Deposit Insurance Corp. in legislation aimed at preventing a repeat of the credit crisis.
Goldman Sachs' top executive on Tuesday defended the investment giant's executive pay policies, saying they underscore the principle of "pay for performance."
Senate Banking Committee Chairman Christopher Dodd is circulating legislation that would give the government sweeping new powers to prevent another economic collapse, including the ability to dismantle failing institutions and increased oversight of lenders to consumers.
Senate Banking Committee Chairman Christopher Dodd on Tuesday called for sweeping new government powers to prevent another economic collapse, protect consumers and dismantle failing institutions.
Breaking with both the House and the Obama administration, the chairman of the Senate Banking Committee unveiled a draft financial regulatory overhaul Tuesday that would consolidate federal regulatory authority over financial institutions.
Asian markets opened strong Tuesday, a day after the Dow Jones Industrial Average reached a new high for 2009.
The Federal Reserve’s historic zero-interest-rate policies remain necessary because the outlook for the U.S. labor market remains grim, two senior Fed officials say in separate speeches.
The plan would dramatically change the regulatory system by consolidating bank agencies, creating a consumer financial protection agency and imposing new restraints on exotic financial instruments.
Senator Christopher J. Dodd, the chairman of the Senate Banking Committee, offered a draft bill on financial regulation on Tuesday that would take power away several banking regulators and create a new independent agency to monitor systemic risk.
Fink says we shouldn't worry all too much about too-big-to-fail financial firms staying too big to fail. That's because the feds are already shrinking them.
Stocks edges up on brighter corporate tone NEW YORK (Reuters) - Wall Street edged higher and the Dow touched a fresh 13-month high on Tuesday as several positive corporate announcements helped stocks extend gains. American International Group rose 4.2 percent to $37.75 after ratings agency...
Nov. 10 (Bloomberg) -- Senator Christopher Dodd proposed legislation to create a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority.
A far-reaching Senate proposal to overhaul the financial system would create three new agencies, while wiping out existing ones, to monitor risky bank practices and protect consumers.
The chairman of the U.S. Senate Banking Committee introduced a financial regulation reform bill on Tuesday that leaps beyond earlier proposals, calling for new government agencies on financial stability, bank supervision and financial consumer protection.
