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Hollywood filmmaker Oliver Stone is again taking on the financial world in a sequel to 1987's successful Wall Street, but this time he said greed is not only good it's legal.
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Congressional Democrats proposed Thursday taxing trades worth at least $100,000 in futures and options contracts or stocks, saying it would raise $150 billion a year to fund a new jobs bill and reduce the federal deficit.The tax is couched as Wall Street's penalty for its role in the speculation behind the collapse of the credit markets. Sen. Tom Harkin (D-Iowa) said, "Let me be blunt. We need ...
WASHINGTON (AP) — Oliver Stone is taking on Wall Street, again.
U.S. stocks were set for a cautiously higher open Friday, as investors awaited the release of the government's monthly jobs report.
Federal Reserve Chairman Ben Bernanke faced tough questions from the Senate Banking Committee about the Fed's failures leading up to the financial crisis and the role it played in the bailout of Wall Street firms. While Bernanke is ultimately expected to be reconfirmed, the hearing may influence the Fed's future role in an overhauled financial system.
The meltdown of the US housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said.
Despite lingering concerns about global economic stability, analysts for the most part remain confident that IT will continue to lead markets out of the recession.
Federal Reserve Chairman Ben Bernanke is expected to win approval for a second term. David Wessel of The Wall Street Journal tells Renee Montagne that Bernanke is likely to get some tough questions from Senators about the financial crisis. Wessel is the author of the book In Fed We Trust: Ben Bernanke's War on the Great Panic.
Luxury retailers lost their traditional resilience during a financial crisis that hit the rich hard but offered attractive leverage to Wall Street's resurgence, the global recovery and increasingly we...
A proposed tax on financial transactions "has a great deal of merit" and would help Congress raise needed revenue, U.S. House of Representatives Speaker Nancy Pelosi said on Thursday.
Federal Reserve Chairman Ben Bernanke, making a case for a second term on Thursday, offered a forceful defense of the U.S. central bank's crisis-battling efforts, which he said prevented an even greater calamity.
Dec. 3 (Bloomberg) -- A group of congressional Democrats proposed taxing large transactions in stocks and derivatives, an idea that has received a cool reception from the Obama administration.
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They make an easy target, but where would we be without them, asks Jeremy Warner.
WASHINGTON - President Barack Obama's options for spurring job growth may be limited by out-of-control budget deficits, but he is warming to moves by his congressional allies for a jobs-boosting bill...
Late slide hits stocks ahead of jobs report NEW YORK Investors grew nervous about the shape of the economy yesterday, dumping stocks at the last minute ahead of a key government report on unemployment. After a sleepy day of small back-and-forth trades, stocks began sliding in the last half-hour. The drop intensified in the final 20 minutes, and with fewer than two minutes until the closing bell ...
