To Curb Risk, Fed to Track Banks’ Top Paychecks
The Federal Reserve announced Thursday that it would crack down on pay packages that encouraged bankers to take excessive risks, but officials acknowledged that the plan might not reduce the biggest paychecks on Wall Street.
Fed Sees Turmoil Lasting Longer Than Expected
Federal policymakers have concluded that the turmoil plaguing the housing and financial markets is likely to spill deep into 2009, becoming one of the most significant domestic problems to confront the next president when he steps into the Oval Office in January.
Testimony Offers Details of Bear Stearns Takeover
Three weeks after the market crisis that forced the rescue of Bear Stearns, federal officials and senior Wall Street executives offered their first public account on Thursday of the harrowing four days of negotiations that led to a deal to sell the investment bank to JPMorgan Chase.
FCC May Limit Companies’ Slowing of Web Traffic
The head of the Federal Communications Commission and other senior officials said Monday that they were considering taking steps to discourage cable and telephone companies from discriminating against content providers as the broadband companies go about managing heavy Internet traffic that they say is clogging their networks.
White House Says That New Hedge Fund Regulations Are Unnecessary
The Bush administration and senior regulators said Thursday that there was no need for new regulations that would make the rapidly growing hedge fund industry more transparent or subject to greater oversight, or to protect the financial system from the collapse of a large fund company.