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Tag Archives: financial crisis

EU looking to improve financial oversight

BRUSSELS — European Union governments said yesterday that they are close to a deal to set up new financial oversight agencies at the end of the year. The deal would have to be a compromise between governments and the European Parliament, which wants to give the new agencies more power to overrule national supervisors. The Parliament has delayed a key ...

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Angry lawmakers take aim at Goldman Sachs

WASHINGTON — A Senate showdown has put Goldman Sachs’ defense of its conduct in the run-up to the financial crisis on display before indignant lawmakers and a national audience. Democrats hope it also builds momentum for legislation, now before the Senate, to tighten regulation of the nation’s financial system. Goldman Sachs CEO Lloyd Blankfein testily told skeptical senators at a ...

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Obama pushing for financial regulations

WASHINGTON — President Barack Obama has chosen the place where the economic meltdown began to argue that it can never happen again and pleading for legislation imposing stronger oversight on the financial industry. Without it, he says, America is doomed to repeat the past. In a speech today at New York’s Cooper Union College near Wall Street, Obama was outlining ...

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First M&F returns to profitability

KOSCIUSKO — First M&F Corp. is back in the black. reporting a profit for the first quarter ended March 31, 2010, of $853,000. Net income allocated to common shareholders was $413,000, or $0.05 basic and diluted earnings per share, compared to a loss of $27.089 million or ($2.99) basic and diluted earnings per share for the first quarter of 2009. ...

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Lawmakers: Lehman Brothers costs schools, governments millions

WASHINGTON — Two lawmakers say Lehman Brothers’ historic collapse cost school districts and local governments in the U.S. millions, forcing many to make major cutbacks. Rep. Anna Eshoo, a California Democrat, said 40 municipalities nationwide lost around $1.7 billion after the firm went under. She is introducing legislation that would require the federal government to compensate those governments. At a ...

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