A Better 2012 for BigLaw (With Big Asterisks)
Federal regulators—including the Federal Reserve and the OCC—have fined Citigroup $400 million over “longstanding” failures in the areas of risk management, data governance, and internal controls. In addition to the fine, the...more
Unlike much of the world, the U.S. has not turned the corner on the coronavirus outbreak. But you wouldn’t know it by looking at the markets. On Tuesday, the S&P 500 topped out at its highest level ever, “capping a remarkable...more
Another day, another major U.S. restriction on Chinese tech. The Commerce Department is out with new rules “curbing Huawei Technologies Co.’s access to foreign-made chips.” The measures would “prohibit non-U.S. companies from...more
It’s all coming up Elon these days for Tesla and its stock. “Positive developments” from the electric carmaker’s battery suppliers helped goose shares even higher, ending the day at $780/share—a nearly 20% gain since Friday....more
Fed vice chair Richard Clarida, in comments to the Economic Club of NY on Thursday, hoped to calm turbulent markets by noting that central bank officials would indeed consider lower-than-desired inflation along with “global...more
A look at the some of the losers—cities, mostly—in Amazon’s recent move to start collecting sales taxes in more states. The problem? While Amazon now collects sales taxes in every state that has one, it’s collection deals...more
If the White House gets its way, Richard Cordray and the CFPB (and many other current Wall Street regulators and regulations) would be virtually unrecognizable as compared to their current form....more
The Financial Stability Board—that Swiss-based grand collection of central bankers and regulators from the world’s biggest economies—has upped the systemic importance ranking for three of America’s biggest banks, including...more