The infamous gun show loophole has been part of the nation’s conversation about gun control since the appalling massacre in Newtown, Conn., late last year.
Advocates for tighter regulation, especially Mayor Michael Bloomberg, have been pointing out that in most states, those who purchase weapons at a gun show are not required to submit to Read More
Barry Zubrow, JPMorgan’s head of regulatory affairs, will step down from the position by the end of the year, The Wall Street Journal says, as Jamie Dimon continues to shake up his inner circle. Four former members of the firm’s operating committee have left the bank or accepted lesser jobs in the last year, Read More
Wall Street firms face billions in potential damages after New York State AG Eric Schneiderman brought civil charges against JPMorgan this week for mortgage-packaging standards at Bear Stearns, which JPMorgan acquired in 2008. The lawsuit, which has been criticized for offering little new information, is the first tort filed by a federal-state task force formed by President Barack Obama earlier this year. Mr. Schneiderman said yesterday that other suits would follow.
From engineering financial instruments to building the world’s biggest Ferris wheel, climb aboard with Matt Chaban for former Bear Stearns Asset Management CEO Richard Marin’s wild ride.
Former Wells Fargo Chairman Dick Kovacevich will not abide arguments that the U.S. government bailed out his bank, especially not in his country club’s men’s dining room.
Large firms such as BlackRock are best positioned to take advantage of JOBS Act provisions that would lift the ban on advertising by private investment firms, Bloomberg reports. One reason: bigger money managers already have marketers on staff to work on products such as mutual funds.
carrying a tort
New York State Attorney General Eric Schneiderman filed a civil lawsuit against JPMorgan yesterday, charging the firm with widespread fraud committed by the mortgage securitization unit of Bear Stearns, which JPMorgan acquired in 2008. Not everyone was impressed.
JPMorgan spokesman Joe Evangelisti said the bank was “disappointed” that Mr. Schneiderman filed his lawsuit without giving Read More
When former Minnesota governor Tim Pawlenty was campaigning to be the Republican presidential nominee, he told reporters that his “truth message to Wall Street is going to be, ‘Get your snout out of the trough.’” Which, maybe that’s still his truth message? But instead of delivering it as co-chairman of Mitt Romney’s campaign, Governor Pawlenty will be speaking it as head of the Financial Services Roundtable, a banking industry lobby.
Somewhere, an algorithm read the coverage of yesterday’s Senate Banking Committee hearing on high-frequency trading, and figured it will take years for the government to hammer out reforms to fix market structure issues.
If you missed it over the weekend, New York Attorney General Eric Schneiderman is investigating the tax practices of private equity firms. At the center of the inquiry is the practice of converting management fees into investments that are taxed at more favorable rates. The private equity industry says such conversions are widely practiced and accepted; here’s a tax lawyer who says they’re illegal.
Attorney General Eric Schneiderman announced yesterday a new policy that will require developers to give potential buyers the chance to view offering plans in digital format.
The new plan, which will become mandatory April 1, is part of the Attorney General’s strategy to digitize his office’s real estate oversight capabilities while also helping the flow of transactions, it announced.
The Obama administration wants to reach a broad settlement with some of the nation’s banks over some sketchy foreclosure practices they have allegedly engaged in during the past few years. But New York State Attorney General Eric Schneiderman is resisting pressure from Washington to sign on to the proposed settlement. He and several colleagues argue that the settlement would make it more difficult for them to prosecute banks suspected of wrongdoing.
Mr. Schneiderman’s position is admirable. If he believes the settlement is not in the best interests of New York consumers, he should continue to resist.
Is there any greater indignity than seeing Wayne Barrett’s byline at the Daily Beast?
Yes. It is hearing about his assignments from Tina Brown–the magazine editor of our lifetime, as he calls her–in this incredible NY1 profile that we have no idea how to embed.
“The first assignment I got was to do a Read More
Attorney General Eric Schneiderman is reiterating his call for an environmental study of hydrofracking after an equipment failure at a Pennsylvania well sent thousands of gallons of chemically-treated water into the surrounding area, and caused the operator to suspend the practice while it investigates what went wrong.
“The events unfolding in Pennsylvania reaffirm Read More