Oil may no longer be spilling into the Gulf, but it still leaves many Gulf businessmen at the mercy of banks and creditors who may not be sympathetic to their circumstances.
The Securities and Exchange Commission settled with Goldman Sachs & Co. yesterday for $550 million for civil fraud charges of misleading investors — $300 million in fines, and the rest as compensation for investors who lost money. But who wins in this situation?
JP Morgan appeared to have blown everyone's expectations by posting $4.8 billion in profits, but read between the lines, and there's some interesting accounting that made for a seemingly successful quarter.
The financial reform bill is just one signature away from becoming law, but that won't be the end — a whole new round of tough decision-making will start for federal agencies.
Last year, the Treasury's stress tests found 10 of the 19 biggest U.S. banks likely couldn't weather a severe recession. Now, banks are expected to be in the black.
The Securities and Exchange Commission is talking to Goldman Sachs about settling its lawsuit against the bank over its actions during the housing collapse.