Topic: Investment Services
Lehman failure fault of managers, banks, auditors: expert
AFP Global Edition
A court-appointed expert blamed the collapse of investment bank Lehman Brothers on its top management as well as audit firm Ernst & Young and banks Citigroup and JPMorgan Chase. The 158-year-old bank filed for protection in September 2008 in the largest US bankruptcy filing in history, leaving the future of ...
Money fund assets fell to $3.090T in latest week
AP News
Money fund assets fell by $36.22 billion to $3.090 trillion in latest weekTotal money market mutual fund assets fell by $36.22 billion to $3.090 trillion for the week, the Investment Company Institute said Thursday. Assets of the nation's retail money market mutual funds fell by ...
Examiner sees accounting gimmicks in Lehman demise
Reuters US Online Report Business News
NEW YORK (Reuters) - Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found. In a 2,200-page report made public on Thursday, examiner Anton Valukas, chairman of law ...
SEC head urges Congress to act on derivatives
AP News
SEC chairman calls for Congress to put new oversight on derivatives to bring openness to swapsThe government's top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage. The ...
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