Government
Federal Financial Crisis Warning Office Struggles to Be Relevant
In June 2009, a small group of academics sent an envoy to a Washington, D.C., think tank to pitch their vision for a research office to help the nation avoid the next financial crisis. The idea was ...
Ally Financial Allowed to Keep Insurance, Auto Auction Units
Ally Financial Inc., the auto lender majority owned by the U.S. government, won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a ...
Biggest Hurdles Yet to Come in Strengthening Global Financial System
"What a week," tweeted European Union financial services chief Michel Barnier last Thursday after securing an agreement on how to wind up failed banks without making the region's taxpayers foot the ...
Ex-AIG Executives Greenberg, Smith Pursue New York Ethics Complaint
Former American International Group executives are pursuing an ethics complaint against the New York prosecutors still bringing the charges that cost them their jobs at the insurance giant in 2005. ...
Appeals Court Reinstates Alien Tort Lawsuit Against Multinational Firms
A lawsuit against a unit of Nestle SA and two other companies alleging children were forced to work as slave labor on cocoa plantations in Ivory Coast was reinstated by a federal appeals court. The ...
Lead Paint Verdict May Set Dangerous Precedent: McArdle Viewpoint
A California judge has just ruled that manufacturers of lead paints and pigments have to pay 10 cities in California $1.1 billion to remediate lead paint used in homes there. I wrote about this last ...
Wall Street Broker Contests SEC’s Probe with Harassment Lawsuit
Companies usually keep a low profile when the U.S. Securities and Exchange Commission investigates them. Robert DePalo decided to sue. DePalo is accusing the SEC of asking investors "leading and ...
Paint Manufacturers to Pay $1.1B to California Municipalities in Nuisance Liability Case
Sherwin-Williams Co., NL Industries Inc. and ConAgra Grocery Products LLC have been ordered by a judge to pay $1.1 billion to replace or contain lead paint in millions of homes after losing a ...