Obama proposes broad financial regulations to increase confidence
US President Barack Obama proposed a broad series of financial regulatory reforms Wednesday intended to reestablish stability and confidence in the US financial system. The plan calls for the expansion of Federal Reserve...
JURIST Guest Columnist Zeray Yihdego of Oxford Brookes University School of Social Sciences and Law says that the UN and the world's powers must act to help stabilize Somalia, too long plagued by clan infighting, lawlessness, regional conflict involving Ethiopia...
SEC charges former Countrywide officials with securities fraud, insider trading
The US Securities and Exchange Commission (SEC) on Thursday charged former Countrywide Financial Corporation officials with securities fraud arising from misleading investors. Former CEO Angelo Mozilo was additionally charged with insider trading for...
US automaker General Motors (GM) filed for Chapter 11 bankruptcy protection Monday. The proceedings will be handled by Judge Robert Gerber of the US Bankruptcy Court for the Southern District of New York [official...
Obama signs financial fraud legislation to create investigatory commission
US President Barack Obama on Wednesday signed into law the Fraud Enforcement and Recovery Act , which aims at expanding the federal government's authority to prosecute acts of financial fraud. Obama said [press...
House approves financial fraud legislation to create investigatory commission
The US House of Representatives on Monday approved the Fraud Enforcement and Recovery Act , which creates a commission to investigate the cause of recent economic turmoil and allocates more resources for...
Senate defeats bill to aid mortgage foreclosures through bankruptcy courts
A bill that would have aided homeowners in foreclosure was rejected 45-51 Thursday by the US Senate . The financial industry had lobbied heavily against the proposed legislation that had come to be...
House approves bill limiting compensation at bailout companies
The US House of Representatives approved a bill Wednesday which allows the Treasury Department to ban certain types of compensation at companies which receive federal bailout money from the Troubled Asset Relief...
Treasury secretary to propose strengthened regulations in response to financial crisis
US Treasury Secretary Timothy Geithner said that the US Department of the Treasury will propose stronger rules in response to the current economic crisis, at a meeting with the Council on Foreign...
FBI director says financial fraud cases are limiting ability to fight other crime
FBI director Robert Mueller told the Senate Judiciary Committee Wednesday that the rise in financial fraud investigations is limiting the ability of the FBI to fight other crimes. Mueller, speaking during the "Oversight of...
