SEC, CFTC chiefs urge Congress to impose broad oversight on financial derivativesSeptember 22nd, 2009 Key regulators urge broad oversight of derivativesWASHINGTON — Two key regulators on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. The administration is seeking to increase the transparency of the $600 trillion global derivatives market and has proposed that big investment banks that trade derivatives be subject to requirements for holding capital reserves against risk.
CFTC chief urges Congress to impose broad oversight on financial derivativesSeptember 22nd, 2009 CFTC chief urges broad oversight of derivativesWASHINGTON — A key regulator on Tuesday urged Congress to go beyond an Obama administration proposal and impose comprehensive oversight on the sprawling, complex market for financial derivatives blamed for worsening the credit crisis last fall. The administration is seeking to increase the transparency of the $600 trillion global derivatives market and has proposed that big investment banks that trade derivatives be subject to requirements for holding capital reserves against risk.
On Wall Street, Obama says some firms not learning lessons of Lehman and the financial crisisSeptember 14th, 2009 Obama: Some Wall St. firms ignoring Lehman lessonsNEW YORK — President Barack Obama says some Wall Street firms are ignoring the lessons of the Lehman Brothers collapse.
Obama takes financial regulation push to NY on Lehman Bros. anniversarySeptember 13th, 2009 WASHINGTON — President Barack Obama plans to use the first anniversary of Lehman Brothers' collapse to talk about plans to wind down the government role in a financial sector that needed a Washington bailout last year, an administration official said Sunday. Obama's speech in New York on Monday will push Congress to take action on regulatory reform to prevent the kind of tailspin that the economy went through last year.
American Capital gets notice of acceleration on $393 million of notesSeptember 4th, 2009 American Capital gets notice on $393M debtBETHESDA, Md. — Investment firm American Capital Ltd.
Maker of boats and pool tables floats offer to buy back up to $75 in senior secured notesSeptember 3rd, 2009 Brunswick Corp. seek to buy back $75M in debtLAKE FOREST, Ill.
JLL Partners and Warburg Pincus propose recapitalization of Builders FirstSourceSeptember 1st, 2009 Firms suggest recapitalizing Builders FirstSourceNEW YORK — Affiliates of private equity firms JLL Partners and Warburg Pincus said Tuesday they have proposed to the board of building-products supplier Builders FirstSource Inc. a recapitalization of the company.
Lehman shares jump in over-the-counter trading despite warnings prices will hit zeroAugust 31st, 2009 Lehman shares jump in over-the-counter tradingNEW YORK — Shares of Lehman Brothers Holdings Inc. jumped in over-the-counter trading Monday despite analysts warnings that prices will eventually dwindle down to nothing.
Strong demand at 7-year auction does little to excite Treasury marketAugust 27th, 2009 Treasurys edge lower despite good 7-year auctionNEW YORK — Treasury prices edged lower in relatively quiet trading despite another strong showing of demand at the latest auction for government debt. The government auctioned off $28 billion in seven-year notes Thursday, which the government only recently began selling again.
Sinclair Broadcast in deal to pay off $438 million in senior notes with new debt, shares jumpAugust 21st, 2009 Sinclair Broadcast, debt holders reach dealNEW YORK — Shares of TV station owner Sinclair Broadcast Group Inc., which has been suffering from a decline in advertising, jumped Friday after the company said it had reached a deal to pay off about $438 million in convertible notes with new debt. Its shares advanced 83 cents, or nearly 40 percent, to $2.98 in morning trading.
Under EU pressure, financial industry starts clearing credit default swaps in EuropeJuly 31st, 2009 Credit default swap clearing starts in EUBRUSSELS — Under pressure from the Eropean Union, banks in Europe will start processing complex financial contracts known as credit default swaps through a central clearing house by the end of July, EU regulators said Friday. Swaps offer insurance against securities for lenders worried about a borrower's ability to pay them back.
Hong Kong announces $800 million settlement in dispute over investments backed by Lehman Bros.July 22nd, 2009 Hong Kong has plan to pay back Lehman investorsHONG KONG — Hong Kong banks agreed to return more than $800 million to investors burned by Lehman Brothers-backed derivatives, potentially ending a nearly yearlong dispute that sparked street protests and exposed problems in this financial center's markets. The 16 banks will initially return 60 or 70 percent of the principal to thousands of investors with those over 65 years old getting the higher amount, regulators said Wednesday.
Treasury says it wants to clamp down on credit default swaps, privately traded derivativesMay 13th, 2009 Treasury wants more financial regulationsWASHINGTON — The Obama administration is asking Congress to extend its oversight of the financial system to include the shadowy market of derivatives, the kind of complex financial instruments that helped bring down the giant insurer AIG. In a draft two-page letter to congressional leaders, the Treasury Department says it wants to create a central electronic-based system that would track the buying and selling of derivatives.
State, local governments plead for bailout money after Lehman Brothers collapseMay 5th, 2009 State, local gov'ts seek bailout after Lehman fallWASHINGTON — State and local governments are pleading with Congress for bailout money to offset losses suffered when Lehman Brothers collapsed. Officials from Florida, Colorado and California said Tuesday that it's not fair that the government bailed out the likes of AIG but allowed Lehman to fail.
Singapore announces multi-billion-dollar stimulus planJanuary 22nd, 2009 SINGAPORE - The Singapore government Friday announced an 11-billion-Singapore-dollar ($7.3 billion) plan of financial schemes aimed at stimulating lending to a broader range of enterprises during the current economic downturn. About 142,000 companies, or 99.7 percent of all enterprises based in Singapore, would be eligible for the schemes, which would be effective for one year from Feb 1, the Trade and Industry Ministry said.
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