A key senator on Monday questioned regulators' approval of a backdated cash infusion for IndyMac, a big thrift that failed in July and cost the federal insurance fund for banks nearly $9 billion.
President-elect Barack Obama is laying the groundwork for a giant economic stimulus package, possibly $850 billion over two years, in his first test of legislative give and take with Congress.
U.S. President-elect Barack Obama is seeking as much as $310 billion in tax cuts as part of a massive stimulus plan to counter what senior policymakers warned could be a prolonged period of economic stagnation and deflation.
Bernard L. Madoff Investment Securities LLC was examined at least eight times in 16 years by the U.S. Securities and Exchange Commission (SEC) and other regulators, who often came armed with suspicions, the Wall Street Journal said.
Thierry Magon de la Villehuchet who ran a fund that invested with Bernard Madoff, was reportedly found dead at his Madison Avenue office today in New York City.
Bernard Madoff, the Wall Street fund manager who authorities say confessed to running a $50 billion fraud, was put under 24-hour detention in his Manhattan apartment on Friday "to prevent harm or flight."
Crisscrossing the country in corporate jets may no longer fly in Detroit after car executives got a dressing down from Congress. But on Wall Street, the coveted executive perk has hardly been grounded.