financial meltdown news stories on Newser

Why Obama Won't Nail Wall Street 'Crooks'

Neal Colgrass — Mon, 07 May 2012 17:34:51 CDT

With President Obama's campaign officially underway , two journalists examine why his promise to end "business as usual" on Wall Street has amounted to more, well, business as usual on Wall Street. "Casting Romney as a plutocrat will be easy enough," write Peter Boyer and Peter Schweizer at the Daily Beast...

Iceland's Ex-PM Guilty on 1 Count in Banking Crisis

Mon, 23 Apr 2012 10:02:00 CDT

A special court today found a former Iceland prime minister guilty of one charge related to the nation's banking crisis but cleared him of four other charges. Geir Haarde will face no punishment, and the state will pay his expenses in defending the case. Haarde, who led the government from...

Ex-World Leader Indicted Over Financial Crisis

Kevin Spak — Wed, 29 Sep 2010 06:59:25 CDT

Iceland’s legislature has decided to file charges against the country’s ex-prime minister over his role in the financial crisis. After a contentious vote yesterday, lawmakers voted 33-30 to refer charges against Geir Haarde to a special court, the AP reports. That’ll make Haarde the first world leader prosecuted in connection...

Blankfein Will Deny Goldman Bet Against Clients

M. Morris — Mon, 26 Apr 2010 18:36:31 CDT

The CEO of Goldman Sachs will tell a Senate panel tomorrow he understands Americans' distrust of the bank, but its "functions are important to economic growth and job creation." Lloyd Blankfein's remarks, released ahead of the eagerly awaited hearing, are his most accommodating yet, reports the New York Times . He...

Goldman Withers in SEC Spotlight

M. Morris — Fri, 16 Apr 2010 13:14:00 CDT

The SEC's civil suit against Goldman Sachs is hardly a slam-dunk, experts agree, but the scrutiny is certainly not doing the firm any good . Some reactions: This "is explosive stuff," Felix Salmon blogs for Reuters . "Goldman Sachs has lost more than $10 billion in market capitalization today, in the wake...

SEC Charges Goldman Sachs With Fraud

Fri, 16 Apr 2010 10:26:07 CDT

The government is accusing Wall Street powerhouse Goldman Sachs of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering. The SEC today announced civil fraud charges against Goldman and one of its vice presidents. The agency alleges Goldman failed...

Stocks Close In on Big 2009 Gains

Harry Kimball — Thu, 31 Dec 2009 08:00:00 CST

Stocks have rebounded mightily since the dark days of March, though analysts warn the dazzling recovery could make for a lackluster 2010, or even auger a double-dip recession or '30s-style yo-yoing markets. The good news first: Barring a disastrous close today, the Dow will be up around 61% since March...

Michael Moore Wants to 'Save Our CEOs'

Evann Gastaldo — Mon, 15 Jun 2009 08:24:54 CDT

Let the viral marketing begin. Michael Moore pulled a fast one on New York moviegoers Friday night when, instead of a conventional trailer for his new film, he appeared onscreen Will Rogers-style asking for donations to “save our CEOs,” the New York Daily News reports. Audience reactions were filmed as...

Krugman in 'Despair' Over Toxic Asset Plan

Clay Dillow — Mon, 23 Mar 2009 08:57:30 CDT

Paul Krugman has been downbeat for weeks on the Obama efforts to rescue the economy, but today he hits a new low. “This is more than disappointing. In fact, it fills me with a sense of despair,” writes Krugman in the New York Times of the White House public-private plan...