Headlines

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Format: 07-25-2014
July 24, 2014
Regulators yesterday imposed new restrictions on a vast market that played a significant role in the 2008 financial crisis, The New York Times Dealbook reported yesterday. The Securities and Exchange Commission voted 3-2 to adopt a new set of rules for money market funds, a $2.6 trillion industry...
July 24, 2014
Given a choice between a regulator whose mission is to promote growth through investment, or an unfamiliar committee dominated by the Federal Reserve, the mutual fund industry opted for the devil it knows, Bloomberg News reported today. The threat of regulation by the Financial Stability Oversight...
July 24, 2014
The Securities and Exchange Commission told Standard & Poor's Ratings Services that it could face an enforcement action for alleged securities fraud regarding six commercial real-estate deals in 2011, according to a Wednesday filing by S&P parent McGraw Hill Financial Inc., The Wall Street...
July 24, 2014
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and board members won the dismissal of an investor lawsuit over $2.6 billion in penalties and settlements paid by the bank because of its relationship with convicted Ponzi scheme operator Bernard Madoff, Bloomberg reported yesterday. U.S...
July 24, 2014
Argentina will keep talking to "holdout" investors who are suing the country for full payment on their bonds, but its demands should not be trivialized as whims, Reuters reported yesterday. President Cristina Fernandez said that Argentine officials would travel as often as necessary to New York,...
July 24, 2014
A group of pension and trust funds for local electrical workers has filed petitions to force companies affiliated with Truland Group into bankruptcy amid reports that the Reston,Va.-based electrical contractor is winding down operations, The Washington Post reported yesterday. The petitions filed...
July 24, 2014
The federal judge who sentenced Bernard Madoff to 150 years in prison in 2009 ruled against an apparently phony request to disqualify prosecutors and dismiss criminal charges against the con man, Bloomberg News reported yesterday. U.S. Circuit Judge Denny Chin denied a rambling one-page motion...
July 24, 2014
Public pensions from California to Ohio are backing away from hedge funds because of concerns about high fees and lackluster returns, The Wall Street Journal reported yesterday. Those having second thoughts include officials at the largest public pension fund in the U.S., the California Public...
July 24, 2014
Verizon, General Motors, Ford and Heinz have all moved part of their pension obligations off their books and into annuities run by insurance companies, The Washington Post’s Wonkblog reported on Monday. The move, called de-risking, requires companies to pay a lump sum to purchase a group annuity...
July 24, 2014
Detroit’s recent history is littered with many false claims of an impending turnaround, and successful emergence from bankruptcy is no guarantee of revitalization, according to commentary today in The Times Herald by James Hohman, assistant director of fiscal policy at the Mackinac Center. To...
July 23, 2014
A U.S. judge has ordered Argentina and investors who did not participate in the country's past debt restructurings to meet "continuously" with a court-appointed mediator until a settlement is reached, warning of the threat of a new default, Reuters reported yesterday. U.S. District Judge Thomas...
July 23, 2014
A federal appeals court ordered Travelers Cos. Inc. to pay more than $500 million to thousands of asbestos victims in a case stemming from the insurer's coverage of Johns-Manville Corp., Reuters reported today. The Second U.S. Circuit Court of Appeals reversed a February 2012 ruling in which U.S....