FINANCIAL REFORM

Moody's Cuts Japan Rating by One Notch to AA3

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Moody's Investors Service cut its rating on Japan's government debt by one notch to AA3 on Wednesday, blaming large budget deficits and a buildup of debt since the 2009 global recession.

Layoffs Sweep Wall Street, Along with Low Morale

Market Woes.
In early summer, before layoffs began sweeping across Wall Street, billboard-sized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG's offices in the United States and abroad.
Goldman Sachs

Goldman Sachs rates desk hemorrhages traders

More than a dozen traders have quit Goldman Sachs Group Inc's (GS.N) North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up.
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Mary Schapiro, Chairman of the American Securities & Exchange Commission, delivers the keynote address at the New York Financial Writers' Association annual awards dinner in New York June 18, 2009.

SEC seeks to clampdown on bankers bonuses

The Securities and Exchange Commission (SEC) is proposing regulations to put a clampdown on large bonuses handed out banks, brokerages and hedge funds as part of the Dodd-Frank financial reform package.
Kansas City Federal Reserve President Hoenig speaks at the American Economic Association Conference in Atlanta

Fed's Hoenig: Big banks too risky, rates too low

Wall Street's financial giants continue to pose major risks to the U.S. economy, and must be broken up to avoid another meltdown, Kansas City Federal Reserve Bank President Thomas Hoenig said on Wednesday.
Chairman of the Federal Reserve Ben Bernanke at National Press Club luncheon on the economic outlook in Washington

Bernanke to testify on Dodd-Frank next week

Federal Reserve Chairman Ben Bernanke and other top U.S. regulators will appear before the Senate Banking Committee next week to discuss the implementation of the Dodd-Frank financial reform law, the committee announced on Thursday.
FDIC Chairman Sheila Bair

FDIC proposes curbs on bankers bonuses

The Federal Deposit Insurance Corp. (FDIC) has proposed new rules that will mandate large financial institutions to delay payment of 50 percent of executive bonuses for a period of three years in order to discourage risky financial activities.
Traders work on the floor of the New York Stock Exchange

Why U.S. stocks can go up in 2011

The health of the American economy and the level of accommodation in monetary policy are the two most important factors that influence U.S. stock price movements. In 2011, it seems U.S. equities may get support both.
U.S. Senator Jim Bunning (R-KY) testifies before the House Committee on Government reform in Washington March 17, 2005.

Senator says mortgage crisis risk remains

Sen. Jim Bunning, R-KY expressed anger Wednesday that the potential for another mortgage crisis remains, despite efforts to deal with the mortgage crisis over the past decade.
A man walks past a hiring sign in Virginia

It’s hiring stupid! Adding 200,000 jobs a month is the real test

The fall in initial jobless claims in the U.S. to the lowest level since July 2008 is not a right pointer to a possible labor market recovery, according to an analyst, who says the true test for the economy is the creation of anything above 200,000 payroll jobs in a month.
A protester pushes against a police cordon guarding the Greek parliament in central Athens

EU/IMF pressuring Greece to accelerate economic reforms

Greece's international lenders have agreed to provide the debt-ridden country with the third installment of a loan – valued at 9-billion euros -- but warned that the Greeks must make an extra effort to address its deficit next year.
Deputy Treasury Secretary Neal Wolin

Too big to Fail era over: Treasury Dept.

Too big to fail is now over and American taxpayers will never be asked to bear the costs of a financial firm's failure, said U.S. Treasury deputy secretary Neal Wolin.

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