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Bloomberg News | Friday, January 8, 2010

The Obama administration is weighing how the government can encourage workers to turn their savings into guaranteed income streams following a collapse in retiree accounts when the stock market plunged.


The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort. 

BusinessWeek | Wednesday, December 9, 2009

At first glance, banks seem to be recovering nicely from the financial crisis. But investors cheered by optimistic earnings reports could soon face a painful surprise.


Many banks appear to be postponing inevitable losses on home-equity loans and commercial mortgages. Others face new trouble in consumer banking, especially credit cards. "Banks know they've got big holes on their balance sheets," says Paul Miller, an analyst for FBR Capital Markets.

BusinessWeek | Thursday, November 19, 2009

From the marbled corridors of Congress to the tony salons of Georgetown, liberal lawmakers are abuzz with ideas on how to rein in U.S. corporations. Yet over in the courts, two conservative lawyers are mounting a serious challenge to a law, enacted earlier in the decade, that imposed tough restrictions on American businesses. A ruling in their favor could deal a serious blow to the pro-regulatory movement in Washington.

BusinessWeek | Tuesday, November 17, 2009

Taxpayers are taking another hit as strapped local governments fork over billions in fees on investments gone bad


Detroit Mayor Dave Bing is struggling to save his city from fiscal calamity. Unemployment is at a record 28% and rising, while home prices have plunged 39% since 2007. The 66-year-old Bing, a former NBA all-star with the Detroit Pistons who took office 10 months ago, faces a $300million budget deficit—and few ways to make up the difference.

BusinessWeek | Thursday, October 22, 2009

Call it pay day in Washington: The Federal Reserve and Treasury made a splash by unveiling sweeping compensation rules, mostly for executives at banks and other financial companies.

BusinessWeek | Wednesday, October 21, 2009

Insider-trading scandals have been a fact of market life since the Dutch were hawking East India Tea. And the high-stakes bust on Oct. 16 of Raj Rajaratnam, the billionaire founder of hedge fund Galleon Management, for allegedly trafficking in ill-gotten information includes the usual array of investment analysts, corporate executives, and clock-punching interlopers.

BusinessWeek | Wednesday, September 30, 2009

The Federal Deposit Insurance Corp. isn't the only beneficiary of a plan to refill its coffers. The proposal, which the banking regulator announced on Sept. 29, also offers an intriguing way for financial firms to boost their capital and raise their profits.

BusinessWeek | Thursday, September 24, 2009

The leaders of 20 of the world's biggest economies committed to a laundry list of executive pay reforms for financial firms, including limiting bonuses to a portion of total net revenues and linking them tightly to share prices. But don't count on sweeping mandates from regulators just yet.

BusinessWeek | Wednesday, September 23, 2009

By Friday evening, the heads of the world's 20 biggest economies -- from the US to South Africa, encompassing 85 percent of global economic activity -- will have dined, met, lunched, met again, and made their pronouncements.


If history is any judge, there may not be much in the way of immediate or lasting results.

BusinessWeek | Wednesday, September 9, 2009

World leaders are talking bravely about fixing the global financial system. As the Group of Twenty heads toward an important summit in Pittsburgh on Sept. 24-25, they are vowing to bang out a regulatory structure that will keep rich, careless bankers from once again driving their firms to ruin and then getting bailed out by taxpayers. Finance ministers and central bankers who met in London earlier this month reported "substantial progress in delivering our ambitious plan."

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