Tagged: US Congress

Goldman executives questioned

The Congressionally appointed Financial Crisis Inquiry Commission exploring the 2008 crash questioned executives from Goldman Sachs, the world’s most profitable bank, about how much it makes trading derivatives — those complex financial bets that helped bring down the economy.  Goldman Chief Financial Officer David Viniar said they had no way of determining its derivatives data […]

Financial regulatory bill agreed on

House and Senate conferees finally worked out a compromise bill aimed at reshaping financial regulations to avoid another Crash of ’08, with a final vote set for next week and President Obama expected to sign it by July 4th.  As expected: many winners and losers.  One controversial provision gives the SEC authority to require stockbrokers to […]

Deadline for financial regulatory reform

Congress is down to its self-imposed deadline to come up with a financial regulatory reform bill, leaving some of the most controversial provisions — like how to deal with the trading of derivatives — to the final hours.  Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former […]