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’GAO less than pleased with former SEC chairman Cox
The Government Accountability Office, the investigative arm of the US congress and known for its poisonous pen, strongly criticises the leadership of former SEC chairman Christopher Cox in a report released on Tuesday.
Schapiro replaces Cox at SEC
Christopher Cox stepped down as US SEC chairman, leaving behind a demoralised agency that failed to spot Bernard Madoff’s alleged fraud and had its role diminished by the collapse of Bear Stearns and Lehman Brothers,
Cox, the SEC and CDS
Score one for Governer Paterson – his request that regulators-on-high step in to sort out the market for credit default swaps certainly has not been ignored.
Here’s what Christopher Cox, SEC Chairman,
Lehman: Thou shalt deny me thrice before the Cox crows
CNBC’s Charlie Gasparino broke news yesterday of the latest capital raising attempt for Lehman brothers: a warrant offering a 25 per cent stake in Lehman and a 70 per cent stake in its investment management business,
US worries hit banks as Bernanke highlights risks
Ben Bernanke highlighted the “numerous difficulties” facing the US economy in a sobering testimony yesterday that sent markets on a rollercoaster ride as he signalled serious risks on both the growth and inflation fronts.
America suspends capitalism (We kid you not)
Well, partially. And just for the moment, we assume.
Pending introduction of the necessarily rules, patriotic citizens of the US and others will be free to follow the lead of the Federal Reserve in buying shares in government-sponsored mortgage financiers Freddie Mac and Fannie Mae,
[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,
Blame Cox and “diplomatic dopiness,” not Sarbox
As another big Russian company prepares to make use of London’s lightweight market listing infrastructure, the debate over why America’s capital markets are missing out on such exotic business is becoming increasingly cerebral.
SEC quotes ‘April Fuhrst’ in spoof press release
In an unprecedented display of humour, the US Securities and Exchange Commission issued an April Fools’ Day press release on Sunday announcing “plans” to require publicly-listed companies to reveal the pay and perks of the “top 100 people who make more than the CEO”.