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We need a stronger Glass-Steagall Act to regulate financial firms
"Bring back Glass-Steagall!" That's the cry you hear most often for restoring regulatory stringency to our misbehaving financial sector.
The 1933 law, which barred commercial banks from underwriting or investing in stocks — in effect, from owning...Tags: Big 3 Auto Bailout (2008), Litigation and Regulation, Investments, Douglas, Goldman Sachs
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U.S. declines to label China a currency manipulator
WASHINGTON -- The Obama administration may be getting tougher with China on trade, but its approach in dealing with Beijing on the thorny currency issue remains patient diplomacy. The Treasury Department, in its semiannual report Friday on exchange-...
Tags: Mitt Romney, Currency Values, Republican Party, International Monetary Fund, Beijing (China)
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Key regulators learned of JPMorgan loss from media reports
WASHINGTON — The public won't be protected from the type of risky bets that led to the huge trading loss at JPMorgan Chase & Co. until new rules are approved to allow better monitoring of complicated derivatives transactions, two key federal...Tags: Bob Corker, Tim Johnson, Republican Party, U.S. Senate, Robert Menendez
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U.S. escalates clandestine war in Yemen
World NowIn an escalation of America’s clandestine war in Yemen, a small contingent of U.S. troops is providing targeting data for Yemeni airstrikes as government forces battle to dislodge Al Qaeda militants and other insurgents in the country’s... -
U.S. bailout of AIG may net an estimated $15.1-billion profit
WASHINGTON — The U.S. government could end up pocketing a $15.1-billion profit from the bailout of insurance giant American International Group Inc., according to a new estimate by the Government Accountability Office.
The report came as the...Tags: Federal Reserve, Finance, Economy, Business and Finance, American International Group
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U.S. blacklists sons of 'Chapo' Guzman, fugitive Mexican drug lord
World NowThe U.S. Treasury Department added two sons of drug lord Joaquin "El Chapo" Guzman to its "designated kingpin" list, which bars all U.S. companies, banks and individuals from doing business with them.... -
Fannie Mae earned $2.7 billion in quarter, doesn't' seek aid
U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It's the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial...Tags: Companies and Corporations, Loans, Mortgages, Homes, Finance
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Senate committee to look at JPMorgan loss
WASHINGTON -- The Senate Banking Committee will examine the $2-billion trading loss by JPMorgan Chase & Co. as part of a hearing on implementation of the financial reform law. The committee's chairman, Sen. Tim Johnson (D-S.D.), made the announcement...
Tags: Federal Reserve, Bob Corker, Tim Johnson, Jamie Dimon, Finance
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U.S. could make $15.1 billion profit on AIG bailout, GAO says
The U.S. government could end up pocketing $15.1 billion in profit from the bailout of insurance giant American International Group Inc., according to a new estimate by the Government Accountability Office. The report came as the Treasury Department on...
Tags: Federal Reserve, Finance, Economy, Business and Finance, Federal Bailout Funds, American International Group
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BofA provides example of mortgage-modification foot-dragging
This is a story of persistence.
In the case of Miriam Ramirez, it's the story of trying to obtain a much-needed loan modification from Bank of America.
In BofA's case, it's the story of giving a mortgage customer the runaround for two years.
Loan...Tags: Mortgages, Banking, Finance, Economy, Business and Finance, Los Angeles Times Columnists
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Fannie Mae backed principal reductions, internal documents show
WASHINGTON -- Fannie Mae officials supported principal reductions for some struggling homeowners in 2009 and believed they would save taxpayer money, but a pilot program set to start a year later was abruptly canceled apparently for ideological reasons,...
Tags: Justice System, Services and Shopping, U.S. House Committee on Oversight and Government Reform, Politics, Education
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Calls for mortgage assistance get louder in Washington
WASHINGTON — Pressure is mounting on a key federal regulator to allow Fannie Mae and Freddie Mac to reduce loan principal amounts for struggling homeowners, after disclosures that a plan to do that was scuttled even though it was aimed at saving...
Tags: Mortgages, Freddie Mac, Finance, Economy, Business and Finance, Financial and Business Services
May 30, 2012
|Column| Los Angeles Times
May 25, 2012
|Story| Los Angeles Times
May 23, 2012
|Story| Los Angeles Times
May 16, 2012
| Los Angeles Times
May 8, 2012
|Story| Los Angeles Times
May 8, 2012
| Los Angeles Times
May 9, 2012
|Story| AP Member Choice Complete
May 14, 2012
|Story| Los Angeles Times
May 8, 2012
|Story| Los Angeles Times
May 7, 2012
|Column| Los Angeles Times
May 1, 2012
|Story| Los Angeles Times
May 1, 2012
|Story| Los Angeles Times
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