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The swift acquittal of two Bear Stearns executives in the government's criminal case tied to the financial meltdown likely will force prosecutors to rethink the evidence they planned to present in a raft of cases that have yet to go to trial, legal experts say.
Two Bear Stearns executives who ran hedge funds that collapsed after betting heavily on the shaky subprime mortgage market were acquitted Tuesday of lying to investors — a defeat in the government's bid to punish fraud exposed by the financial crisis.
Two former Bear Stearns hedge fund managers went on trial Wednesday in one of the few criminal cases brought against Wall Street executives in connection with the housing market collapse.
Bear Stearns' largest stockholder has sued the company's former top executives and an auditor in New York, saying they fraudulently overstated the value of the company's stock.
The World Series of Poker main event reached its final table on Wednesday night as Jordan Smith busted in 10th place with a pocket pair of aces — the best starting hand in no-limit Texas Hold 'em.
Banks cut borrowing from the Federal Reserve's emergency lending program, while investment firms took a pass for the fourth straight week, a sign some credit problems are easing.
A trillion here, a trillion there. The pile of cash the government is throwing at bailouts is starting to add up. More than one reader would like to know: Are we ever going to see that money again?
Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess.
A New York judge has dismissed shareholders' lawsuits contesting JPMorgan Chase & Co.'s fire sale buyout of Bear Stearns.
An administrative law judge at the Securities and Exchange Commission on Friday rebuffed a request for disciplinary action against an SEC official in connection with an investigation of investment bank Bear Stearns.
The former chief risk officer at investment bank Bear Stearns Cos., which nearly collapsed in March, is now a senior official of the Federal Reserve division that supervises U.S. banks.
Bear Stearns got one. Lehman Brothers didn't. Life can seem unfair in the world of government bailouts. But decisions about who gets help from the government are based on circumstances and pressure generated by the political or financial crisis of the moment.
Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial stability.
Alan Schwartz, the Bear Stearns chief executive who was forced to sell the investment bank to JPMorgan Chase & Co., will leave the banking company at the end of the summer, according to an internal memo obtained by The Associated Press on Thursday.
The Federal Reserve has auctioned another $75 billion in loans to squeezed banks to help them overcome credit problems and announced it will provide a fresh batch of the loans this month.
Two former Bear Stearns hedge fund managers were hauled into jail Thursday and charged with lying to investors about the collapse of the subprime mortgage market, perhaps signaling the start of a wave of prosecutions arising from the housing meltdown.
Bear Stearns shareholders have approved JPMorgan Chase's buyout, ending the saga of the 85-year-old pillar of Wall Street that crumbled under the weight of its own wagers on high-risk mortgages.
Bear Stearns Cos. said Monday its profit plunged 79 percent in the fiscal first quarter that ended just two weeks before speculation about a liquidity crisis forced its sale to JPMorgan Chase & Co.
Bear Stearns & Co.'s assets under management have shrunk 20 percent since the end of November, and stock and fixed income trading has plummeted to "well less" than half of activity levels in 2007 and the first quarter of this year, the company said in documents filed with the Securities and Exchange Commission late Friday.
Some quotes from Thursday's Senate Banking Committee hearings on the federal government's facilitating the sale of Bear Stearns to JP Morgan Chase.
Federal Reserve Chairman Ben Bernanke and the Bush administration on Thursday defended the decision to rescue Bear Stearns amid questions by lawmakers about why the government was helping Wall Street investment houses but not people on Main Street.
The Federal Reserve on Tuesday cleared the way for JP Morgan Chase & Co. to acquire Bear Stearns' bank holdings.
Bear Stearns Cos. Chairman James Cayne dumped his entire stake in the embattled investment bank for $61 million as it appears closer to a takeover by JPMorgan Chase & Co.
Two key senators are demanding details of the last-minute sale of failing investment bank Bear Stearns to JP Morgan, and how the Federal Reserve Bank's backing for the deal could affect taxpayers.
Billionaire Rajaratnam, others, arrested for insider trading :Raj Rajaratnam, the Sri-Lankan-born billionaire investment wizard who founded Galleon Group, was arrested Friday along with five others on federal charges of illegal insider trading.
The Most Important Financial Journalist of Her GenerationEXCERPT: After all, the mortgage crisis was nothing if not the Bear/Baron model writ large.
Despite Economic Collapse, 2009 Projected To be Goldman Sachs Most Profitable Year EverThe World Bank predicts that global economic growth will decline by 2.9 percent in 2009. That's the worst year for the global economy since at least World War II.
President Obama There Is Still Time To Change Your Mind: "Economy Still On The Brink"In a wonderful Op-Ed piece by Sandy B. Lewis, an organic farmer, and founder of SB Lewis & Co., a brokerage house and William D.
A nation under banks, with justice for noneAll this puts the SEC and the rest of the government in a horrible spot. It is a matter of public record that the law wasn't followed, thanks to Cuomo's disclosures last week.
This seems like small potatoes now, but those Bear Stearns and AIG loans made by the Fed aren't doing too well. As of May 6, the Fed is under water by over $8 billion.
Standard & Poors, Moody's, and Credit Rating Agencies contribution to the financial fiascoThis book is the story of my journey through the gluttony and dysfunctionality of 1990s Wall Street. But it also is a story about the roots of the 2008 market crisis.
Comprehensive 10 Year Review of AIG s Accounting PracticesAIG now stands for "arrogance, incompetence and greed" ...according to U.S. House Representative Paul Hodes (D-NH). Now it ratchets way up...
Washington Mutual sues the FDIC for over US$13 billion - The China PostThe real story!In a complaint filed with the U.S.
How We Got Here: A Look Back at the Bear Stearns RescueThe historic collapse of Bear Stearns one year ago could be seen as foreshadowing events to come, and the unprecedented government involvement in rescuing financial institutions and attempting to protect the U.S. economy.
Cramer whines about criticism from Stewart: He has a stock show so he can't be honestCNBC's Jim Cramer got defensive when NBC's Meredith Vieira asked him about criticism by late-nite comic Jon Stewart. "Did I make a mistake? Okay, first of all, any time you recommend a stock and it goes down, you've made a mistake," confessed Cramer.
In Cramer We TrustJim Cramer recommends buying Bear Stearns two weeks before it collapses.
How The AIG Bailout Worked: Enron Style Accounting Brought To You By Uncle Sam and the Federal ReserveWe don't know who AIG's counter parties were, i.e., who got the money. And the folks at the Fed and the Treasury aren't saying. But there are a lot of snippets and shreds of information out there that do allow us to get a decent picture of who some of the major beneficiaries are.
Stewart Takes Down CNBC This is what The Daily Show does best: highlighting shoddy reporting at its worst. Clip above; full video here. This is really ironic, I would say funny if it was not so sad.
With Tax Incentives in NYC: Giving away the Store?Of the current climate, they say public concerns over large infusions of cash from the federal government to Wall Street were doubly heightened in New York, where large tax breaks for many of the same firms have been negotiated and offered for 20 years.
The Great Unraveling By THOMAS L. FRIEDMAN The stranger, a Western businessman, slipped into the chair next to me at an Asia Society lunch here in Hong Kong and asked me a question that I can honestly say I've never been asked before: "So, just how corrupt is America?"
CEOs "cashed out" prior to economic crisisCEOs at major US financial and real estate firms converted tens of millions of dollars of overvalued stock into cash prior to the eruption of the current financial crisis, even as many of their corporations approached the precipice. These included Richard Fuld, the CEO of Lehma …
A Bear Stearns 'Risk' Expert Joins the FedIn a twist, the Federal Reserve Bank of New York has hired the former chief risk officer of Bear Stearns Cos., the Wall Street firm it was forced to save last spring.
Fed Hires Bear Stearns Risk BossIn a move that is sure to put to rest the notion that there are no second acts in American life, former Bear Stearns chief risk officer Michael Alix has landed a job in the office of the Federal Reserve charged with assessing the safety and soundness of domestic banking instituti …
Why CEOs Don't Say 'Sorry' AnymoreOct. 21) - Elected officials in the past have said "I'm sorry" for everything from marital affairs to cross-dressing to corruption, and CEOs tossed around apologies like horseshoes at the company picnic. Not anymore.
Warren Buffett's Dirty Words of Wisdom• In his 1991 letter to shareholders: "We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'"
The speech given earlier this evening by our president and the subsequent bailout plan is the greatest threat of our generation.
The GOP Leads A 'Socialist' BailoutIf a liberal Democratic administration had put hundreds of billions of dollars of taxpayer money at risk by bailing out Bear Stearns and nationalizing American International Group (AIG), Fannie Mae and Freddie Mac, wouldn't conservatives accuse Democrats of "socialism"? Can Mr.
Democrats at fault for lending crisis; avoiding bailout blameFunny, since it was a Democrat-led Congress that helped cause the problems in the first place.
Bill Moyers: Moguls Steal Home While Companies Strike OutThis last couple of weeks, ordinary mortals below could almost hear the ripcords of golden parachutes being pulled as the divinities on high prepared for soft, safe landings - all this while tossing their workers like sacrificial lambs into the purgatory of unemployment.
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