Goldman Sachs posts $3.3 billion first quarter profit amid SEC probe
Goldman Sachs reports a 3.3 billion in first quarter earnings, nearly doubling from a year earlier, while defending against SEC fraud charges tied to a 2007 CDO deal. Regulators in Britain and the European Commission examine the bank, and its stock falls as political debate over financial reform intensifies.
MENTIONED IN THIS ARTICLE
New York
Goldman Sachs
Wall Street
Goldman
Securities and Exchange Commission
Britain
European Commission
SEC
Jack A. Ablin
Harris Private Bank
Chicago
Goldman Sachs Group Inc
John Paulson
Edward Yardeni
New Bank Tax Gains Bipartisan Support in Congress
Congress debates a new tax on large banks to help fund jobs programs and deficit costs from the Wall Street bailout. Senate leaders Dodd and Shelby push for a bipartisan financial regulation bill despite GOP opposition. The plan could yield about 90 billion dollars over ten years.
MENTIONED IN THIS ARTICLE
Washington
Congress
Wall Street
Chuck Schumer
D-N.y
Banking Committee
Christopher Dodd
D-Conn
Barack Obama
Scott Brown
Massachusetts
Senate
Mitch McConnell
Kentucky
Dodd
Sen
Richard Shelby
Alabama
Shelby
SEC chief pledges tighter oversight of large banks
SEC Chair Mary Schapiro told a congressional panel the agency will tighten supervision of the nation's biggest banks. The testimony followed criticism over Lehman Brothers collapse and the use of Repo 105 accounting. The panel discussed the bankruptcy examiner's finding of $50 billion in marked debt and SEC duties ahead of financial reform.
MENTIONED IN THIS ARTICLE
Washington
Securities and Exchange Commission
Lehman Brothers
Mary Schapiro
Lehman
U.S
Schapiro
Goldman Sachs
Obama
SEC
Bankruptcy Examiner
Richard Fuld
Fuld
Michael Lee
Anton Valukas
Valukas
IMF trims losses forecast as global banks seen spared
IMF projects total global bank losses from the financial crisis at 2.28 trillion dollars, down 533 billion from October. U.S. bank losses at 885 billion, with Greece debt concerns rising alongside deficits in other nations. risk from government debt weighs on the world economy as IMF officials urge continued stimulus.
MENTIONED IN THIS ARTICLE
Washington
International Monetary Fund
IMF
U.S
Greece
United States
Jose Vinals
Vinals
IMF World Bank
U.S. Treasury
Treasury
Timothy Geithner
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