2008 financial crisis Archives - Page 2 of 3

AIG Resumes D.C. Lobbying Efforts After Hiatus

Insurer American International Group is ramping up its lobbying team in Washington, almost six years after it halted such efforts following its rescue by the U.S. government during the financial ...

AIG’s CEO Passes the Torch; His Successor Pledges Continuity

American International Group President and CEO Robert Benmosche got a bit sentimental about the company's post-financial crisis turnaround during his last investor earnings call on Aug. 5. He also ...

S&P Ratings Lawsuits Allowed to Proceed in State Courts

Standard & Poor's suffered a defeat on Tuesday in litigation accusing it of issuing misleading credit ratings prior to the 2008 financial crisis, as a federal judge ruled that lawsuits by 16 U.S. ...

Fed Response to Financial Crisis Could Have Been More Aggressive: Bernanke

Former Federal Reserve Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country's financial crisis and that he struggled to find the right way to communicate with ...

Records Reveal Fed Difficulty During Heat of 2008 Financial Crisis

Federal Reserve policymakers, in a tense meeting on one of the darkest days of the financial crisis, worried Lehman Brothers' failure would wreak havoc on a teetering financial system but feared ...

Federal Reserve Releases Transcripts from 2008 Financial Crisis Meetings

The board of governors of the Federal Reserve System has released transcripts, presentations and other historical materials from the Federal Open Market Committee meetings of 2008 that took place ...

JPMorgan’s $13 Billion Deal: A Shield Against Lawsuits?

JPMorgan Chase & Co.'s record $13 billion deal to end probes into mortgage-bond sales may save the bank billions more because of what the agreement lacked: an explicit admission of wrongdoing. ...

Judge Rakoff Wants Someone to Pay For the Financial Meltdown

At a meeting of New York City securities lawyers last week, Jed Rakoff did what he does best: challenge Establishment Thinking. "While the economy has slowly improved, there are still millions of ...

Judge Rakoff Hits Failure of U.S. to Prosecute Wall Street Executives for Fraud

The federal judge who oversaw the recent civil fraud trial against Bank of America Corp. criticized the U.S. Department of Justice on Tuesday for failing to prosecute high-level executives over the ...

U.S. Banks’ $100 Billion Legal Tab for Financial Crisis Exceeds Combined Profit

The six biggest U.S. banks, led by JPMorgan Chase & Co. and Bank of America Corp., have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to ...