Lehman Brothers is verging on collapse, even as Bank of America is reportedly in talks to purchase Merrill Lynch and AIG hammers out its own rescue strategy.
September’s reading on consumer sentiment improved this month, compared with August, as Americans’ outlook on inflation brightened, according to the preliminary Reuters/University of Michigan consumer sentiment index.
The Securities and Exchange Commission would have explicit power to bar people associated with investment advisory firms for violating securities law under legislation unanimously approved yesterday by the House of Representatives.
Two new ETFs were launched during the month, bringing the total number of ETFs in the United States to 710.
The Producer Price Index dropped 0.9% in August after many months of increased prices, according to the Department of Labor.
A precipitous drop in energy prices, the presidential conventions and the government bailouts of Fannie Mae and Freddie Mac have helped consumer confidence rise dramatically this month.
Handful of firms peddled equity swaps, stock loans to clients; 'IRS pussyfooted on this.'
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
