David Cameron Woos Wall Street CEOs In New York

NEW YORK — British Prime Minister David Cameron met with Wall Street CEOs on Wednesday to press the case for doing business in the United Kingdom and later had “a meeting of minds” with the U.N. secretary-all-function on global challenges ranging from Afghanistan to Mideast peace.

On his first official visit to New York City, Cameron [...]

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DELL SEC Settlement: Computer Maker To Pay $100 Million Over Accounting Fraud Charges

WASHINGTON — Computer maker Dell Inc. is paying $100 million to descend federal regulators’ charges of using fraudulent accounting to meet Wall Street earnings targets.

Under the settlement announced Thursday by the Securities and Exchange Commission, company Chairman and CEO Michael Dell agreed to pay a $4 million civil penalty.

Read more: Wall Street, Dell, Computers, Sec, [...]

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David Cameron Woos Wall Street CEOs In New York

NEW YORK — British Prime Minister David Cameron met with Wall Street CEOs on Wednesday to press the case for doing business in the United Kingdom and later had “a meeting of minds” with the U.N. secretary-all-function on global challenges ranging from Afghanistan to Mideast peace.

On his first official visit to New York City, Cameron [...]

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Simon Johnson: With Banking Reform, Question Everything

President Obama’s signing of the fiscal reform bill on Wednesday does not end our intense debates over banking. Rather, it just moves them to a new sphere. Instead of arguments about legislation in Congress, the next arena is the action (and I don’t know inaction) of regulators.

Those pushing for more effective regulation of the fiscal [...]

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Oliver Stone Teases ‘Scarface 2′

Filed under: New Releases, RumorMonger

Could we soon see a sequel to the Brian De Palma-directed 80s classic Scarface? Chatting up his new movie South of the Border in London, Stone talked Wall Street: Money Never Sleeps with Total Film and said he had so much fun going back to Gordon Gekko that he wanted to [...]

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Henry Blodget: Now Even the Fed Thinks the Economy’s Going to the Dogs

In case you missed this week’s Fed minutes, the Fed is now pulling a Wall Street: Cutting its estimates after the stock has already tanked.

The Fed’s “central tendency” forecast for the economy’s growth this year is now 3.0%-3.5% instead of the 3.2%-3.7% from the meeting in April.

A touch tells us that at the next meeting [...]

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Goldman, SEC Talk All-In-One Settlement For Bank’s Mortgage Cases

Goldman Sachs Group Inc. and the Securities and Exchange Commission recently held discussions about a possible settlement to simultaneously resolve the fraud lawsuit against Goldman and some of the agency’s lower-profile probes of the Wall Street firm’s mortgage department, according to people familiar with the circumstances.

Read more: Abacus 2007-AC1, Goldman Sachs Abacus, Goldman Sachs, Sec, [...]

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Scott Brown Vote For Financial Reform Bill Gets Democrats Closer To 60

WASHINGTON — Republican Sen. Scott Brown of Massachusetts helped go sweeping fiscal legislation closer to passage Monday, announcing that after some misgivings he will support the regulatory overhaul after all.

Brown joins Sen. Susan Collins of Maine as two crucial Republican votes for the legislation.

Read more: Susan Collins, First Lady Fashion, Charles Grassley, Derivatives, Scott Brown, [...]

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Bank Of America’s $10.7 Billion Accounting Mistake Hid Debt, But Was Accident, Bank Says

Bank of America Corp., the largest U.S. bank by assets, said it wrongly classified as much as $10.7 billion of small-term repurchase and lending transactions as sales from 2007 to 2009 to reduce its end-of-quarter assets.

Read more: Small Term Repurchase, Weekly Earnings, Repo 105's, Bank of America, Ken Lewis, Best Practices, Banks, Sec, Accounting, Wall [...]

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Bank Of America’s $10.7 Billion Accounting Mistake Hid Debt, But Was Accident, Bank Says

Bank of America Corp., the largest U.S. bank by assets, said it wrongly classified as much as $10.7 billion of small-term repurchase and lending transactions as sales from 2007 to 2009 to reduce its end-of-quarter assets.

Read more: Small Term Repurchase, Weekly Earnings, Repo 105's, Bank of America, Ken Lewis, Best Practices, Banks, Sec, Accounting, Wall [...]

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