Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement Upshot Supported by Crisis and Consequences ByNeil Irwin Sept. 12, 2018 It’s hard to overstate But for all that anger, the engineers of the American crisis response got the economics mostly correct, and more right than most of those — including leading economic thinkers and prominent politicians — who were second-guessing them. I was a beat reporter covering the events at the time and the key players — including the former Treasury secretaries Hank Paulson and Tim Geithner, and the former Federal Reserve chairman Ben Bernanke — and then wrote a book on the crisis. Looking back on it a decade later, I’m struck by the way that I, and they, misunderstood what “success” would actually mean. The engineers of the response succeeded in their immediate goal, to … [Read more...] about The Policymakers Saved the Financial System. And America Never Forgave Them.
The financial industry regulatory authority
The owner of Dominion Investment Advisors LLC, which had offices in Norfolk and Virginia Beach, has been sentenced to 12½ years in federal prison for his role in defrauding investors of $6 million. Roger Odell Hudspeth II had earlier pleaded guilty to investment adviser fraud and unlawful monetary transactions. He sold unregistered securities to investors who were near retirement age between January 2012 and August 2015, earning more than $737,183 from the deals. Hudpseth had been business partners with Daryl Gene Bank, a local financial radio host who had been banned from being an investment broker by the Financial Industry Regulatory Authority.Clients were told their money was being invested in dental franchises, wireless spectrum licenses and other enterprises that didn’t actually exist.Bank and two other business partners have pleaded not guilty to separate criminal charges and are awaiting trial. … [Read more...] about Chesapeake investment adviser sentenced to 12 years for $6 million fraud
Democracy Dies in Darkness Sections Home Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Monkey Cage Analysis Analysis Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events by Christopher Mitchell by Christopher Mitchell May 21 at 7:00 AM Souvenir license plates for sale at a stand in front of the New York Stock Exchange. (Kathy Willens/AP) Congress will soon send a bill to President Trump to pare several restrictions that were part of the 2010 Dodd-Frank bill, imposed on U.S. banks and other institutions after the global financial crisis. The new bill has several controversial provisions. Among them: it would relax rules on … [Read more...] about Congress is about to loosen the reins on the banking industry. Here’s why.
Nick Leiber, Bloomberg Published 5:21 am, Saturday, May 5, 2018 Marjorie Jones trusted the man who called to tell her she'd won a sweepstakes prize, saying she could collect the winnings once she paid the taxes and fees. After she wired the first payment, he and other callers kept adding conditions to convince her to send more money. As the scheme progressed, Jones, who was legally blind and lived alone in a two-story house in Moss Bluff, Louisiana, depleted her savings, took out a reverse mortgage and cashed in a life insurance policy. She didn't tell her family, not even the sister who lived next door. Scammers often push victims to keep promised winnings a secret, says an investigator who helped unravel the sinister effort to exploit an 82-year-old woman. Her family didn't realize something was wrong until she started asking to borrow money, a first for a woman they admired for her financial independence. But by then it was too late, says Angela Stancik, one of Jones's … [Read more...] about How criminals steal $37 billion a year from America’s elderly
Crypto-currencies are the newest and biggest trend in the financial industry. Fuelled by millennials who have grown up in the digital age, their popularity is reaching new heights. Retailers, educational institutions and even some law firms are now accepting Bitcoin or digital tokens as a form of payment. Crypto-currencies — such as Bitcoin, Ethereum, Litecoin and others — have two things in common. Firstly, they use blockchain technology. Secondly, they face an uncertain but evolving regulatory future. No one knows how big the crypto-currency market is, who is involved (due to the often anonymous or encrypted nature of crypto-currency trading), how cryptocurrencies are valued or whether crypto-currencies are a commodity, a currency or a security. It is inevitable that as crypto-currency and its uses continue to evolve, new legal issues will emerge that both lawyers and the courts in Ontario will have to address. These issues will include the expansion … [Read more...] about Beware the use of crypto-currencies