According to a report by the Government Accountability Office, 28% of large U.S. corporations paid no income tax in 2005.
Whether done voluntarily, as in the case of Merrill Lynch, or as the result of settlements with regulators, as with Citigroup, JPMorgan Chase, Morgan Stanley, UBS and Wachovia, the buy-backs of failed auction rate securities that giant Wall Street firms have agreed to undertake are significant.
The best part of the housing bill signed by President Bush on July 30 was the section that establishes new regulations for mortgage loan originators.
Merrill Lynch & Co. Inc's actions last week may well have marked the beginning of the end of the financial crisis that has gripped the economy for more than a year.
Not immediately, but at some time in the foreseeable future, Fannie Mae and Freddie Mac must be either officially nationalized or fully privatized.
When it comes to implementing new technologies, a number of financial advisers are discouraged by poor results and inadequate returns on their investments, according to a study that will be released today by the Denver-based Financial Planning Association.
After weeks of slumbering on the sidelines, Christopher Cox and the Securities and Exchange Commission have become engaged in the financial crisis that has swept the markets.
Federal Reserve Board Chairman Ben Bernanke's speech last Tuesday attracted the most attention for new mortgage lending rules, to be detailed this week, and for leaving the Fed's doors open to investment banks until next year.
