RSS feedCharles Schumer
’SEC eyes flash-trading ban
America’s SEC is preparing to clamp down on lightning-fast “flash” trades made on electronic trading systems amid complaints that the practice puts some investors at a disadvantage. Mary Schapiro, SEC chairman,
[CPDO rating error] S&P admits modelling flaw
Bloomberg reports that Standard & Poor’s has admitted to finding an error in its rating model for constant proportion debt obligations. Unlike that uncovered by the FT at Moody’s, however, the error appears to have had no “erroneous”
[CPDO rating error] Cox responds to Schumer
Chairman Christopher Cox of the SEC responds to Senator Charles Schumer’s call for Moody’s to be fined in the wake of the FT’s investigation into the rating of CPDOs.
Schumer sits on the Senate’s powerful banking,
Bank of America says sayonara, Sambol
Senator Chuck Schumer must be very pleased, indeed.
David Sambol, Countrywide’s COO and the man who was supposed to lead the soon-to-be combined BofA/Countrywide mortgage business is “retiring.”
(“Right.”)
The reins of a restructured consumer banking business will instead be led by three BofA executives – mortgage chief Barbara Desoer,
[CPDO rating error] US senator Schumer’s letter to Cox
Powerful democrat US senator Chuck Schumer wrote to SEC chairman Christopher Cox on Wednesday in light of the FT’s exclusive on Moody’s flawed rating of CPDOs. Schumer, who sits on the banking, housing and urban affairs committee of the Senate,