Marcy Gordon

August 12, 2010 | Daily Report Online

WASHINGTON AP - The $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries' financial rescue plans did on the U.S., according to a new report from a congressional watchdog.Billions of dollars in U.S. rescue funds wound up in big banks in France, Germany and other nations.

By MARCY GORDON

4 minute read

May 22, 2009 | Daily Report Online

WASHINGTON AP - The federal seizure of struggling Florida thrift BankUnited FSB is expected to cost the Federal Deposit Insurance Corp. $4.9 billion, representing the second-largest hit to the FDIC's insurance fund since the financial crisis began felling banks last year.The costliest was last year's seizure of California lender IndyMac Bank, on which the bank insurance fund is estimated to have lost $10.

By MARCY GORDON

3 minute read

August 07, 2007 | Daily Report Online

By Marcy Gordon

4 minute read

February 09, 2009 | Daily Report Online

WASHINGTON AP - The Securities and Exchange Commission on Monday announced an agreement with disgraced money manager Bernard Madoff that could eventually force him to pay a civil fine and return money raised from investors.The partial judgment, which renders permanent a preliminary injunction that froze Madoff's assets after his arrest in December, must be approved by the judge overseeing the case in federal court in Manhattan.

By MARCY GORDON

3 minute read

January 29, 2009 | Daily Report Online

WASHINGTON AP - Federal regulators on Wednesday charged an investment adviser with securities fraud, saying he bilked clients out of at least $6.5 million in the first scheme using the government's $700 billion financial bailout program as a front to lure investments.The Securities and Exchange Commission won a court order freezing the assets of Gordon Grigg of Nashville, Tenn.

By MARCY GORDON

3 minute read

December 21, 2009 | Daily Report Online

WASHINGTON AP - Regulators on Friday shut down a small Georgia bank, bringing to 134 the number of U.S. banks that have failed this year amid the soured economy and mounting loan defaults.The Federal Deposit Insurance Corp. took over RockBridge Commercial Bank, based in Atlanta, with $294 million in assets and $291.

By MARCY GORDON

2 minute read

October 22, 2008 | Daily Report Online

WASHINGTON AP - The Securities and Exchange Commission said Wednesday it brought 671 enforcement cases in the fiscal year that ended Sept. 30, with the number of market manipulation cases up more than 45 percent over the prior year.The SEC also said it has more than 50 pending investigations related to the subprime mortgage market.

By MARCY GORDON

3 minute read

September 03, 2008 | Daily Report Online

WASHINGTON AP - Federal prosecutors and regulators on Wednesday accused two former Wall Street brokers of defrauding customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages.In an indictment unsealed in federal court in Brooklyn, N.Y., the two former Credit Suisse Securities brokers were charged with deceiving customers in a bid to pump up their sales commissions.

By MARCY GORDON

3 minute read

January 14, 2010 | Daily Report Online

By MARCY GORDON

2 minute read

May 07, 2009 | Daily Report Online

By MARCY GORDON

3 minute read