WALL STREET

Courts take up opposition to Dodd-Frank’s financial oversight

WASHINGTON — After failing to scuttle the landmark legislation in Congress, critics of the Dodd-Frank Act overhauling financial regulations are trying to chisel away at it in the courts — with some initial success.

By DINA ELBOGHDADY , October 08, 2012

GUEBERT: Few markets are totally free

If there’s no such thing as a free lunch — and there isn’t; even the United States Department of Agriculture’s “free” National School Lunch Program cost $10.8 billion in fiscal 2010 — then it stands to reason that the free market might not be entirely free either.

By Alan Guebert , July 04, 2012

Stocks drop after health care law is upheld

NEW YORK (AP) — Stocks are dropping sharply after the Supreme Court upheld the central provision of President Barack Obama's health care overhaul, a requirement that almost all Americans carry health insurance.

June 28, 2012

Dimon faces tougher questions in House on $2B trading loss

WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon had a much tougher reception Tuesday when he returned to Capitol Hill for a second round of questions over the bank's $2 billion trading loss.

By MARCY GORDON , June 19, 2012

JPMorgan CEO says execs may have pay taken back

WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.

By MARCY GORDON , June 13, 2012

Sen. Johnson leads banking hearing on JPMorgan losses

SIOUX FALLS (AP) — Sen. Tim Johnson is questioning why the largest bank in the U.S. failed to have more risk controls in place, leading to more than $2 billion lost on trades.

By Dirk Lammers , June 13, 2012

Sen. Johnson calls JPMorgan CEO to banking committee

WASHINGTON — Sen. Tim Johnson has scheduled a hearing with JPMorgan Chief Executive Officer Jamie Dimon before the Senate Banking Committee. Johnson, D-S.D., is the chairman of the committee.

By News release , May 30, 2012

Stocks plunge as debt talks near collapse

NEW YORK (AP) — Stocks are plunging at midday after Congress' latest bid to resolve the federal budget gridlock appeared to fail.

November 21, 2011

Wall Street protesters committed to long stretch in NYC as ranks swell

NEW YORK (AP) — The protesters who have been camping out in Manhattan’s Financial District for more than two weeks eat donated food and keep their laptops running with a portable gas-powered generator. They have a newspaper — the Occupied Wall Street Journal — and a makeshift hospital.

October 03, 2011

Fear about world economy sends markets lower

NEW YORK (AP) — Stocks opened sharply lower Thursday, extending a rout around the world. Indicators across the financial markets suggested investors were frightened that the global economy is in for a long slump.

September 22, 2011

Pope demands greater ethics in business, finance decions

MADRID (AP) — Pope Benedict XVI denounced the profit-at-all-cost mentality that he says is behind Europe's current economic crisis as he arrived in hard-hit Spain on Thursday, and said morals and ethics must play a greater role in formulating economic policy in the future. "The economy doesn't function with market self-regulation," he said.

August 18, 2011

Stocks up 300-plus on small but positive economic signs

NEW YORK (AP) — Wall Street's wildest week since 2008 continued with another 300-plus point move for the Dow on Thursday. This time, stocks shot up after investors saw small signs that the economy might not be headed into another recession.

August 11, 2011

Stocks resume sell-off; Dow finishes down 519

NEW YORK (AP) — Back to reality and back down, Wall Street focused Wednesday on the bleak landscape ahead for the economy and wiped out its big gains from a day earlier — and then some.

August 10, 2011

It's not just economics: Sen. Johnson questions S&P's political judgment

Today, Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Johnson (D-SD) issued the following statement on the market reaction to Standard & Poor’s downgrade of U.S. Treasuries. “In the minds of serious, reasonable, and informed individuals there is no doubt that the U.S. will meet its debt obligations and we are seeing even more proof of that today. As the financial markets stumble, investors continue to regard Treasury debt as a safe haven in times of economic uncertainty. This irresponsible move by S&P may, however, have spillover effects that tax the American people by increasing interest rates on home loans, credit cards, and car loans, and by increasing the cost of finance for some state and local governments. I am deeply disappointed in S&P’s decision to enter into the game of political punditry.”

By AP with information added by The Republic , August 10, 2011

Stocks soar after Fed pledges low rates into '13

WASHINGTON (AP) — The Federal Reserve guaranteed super-low interest rates for two more years Tuesday — an unprecedented step to arrest the alarming decline of the stock market and the economy. Wall Street roared its approval and finished a wild day with a 429-point gain.

August 09, 2011