Marcy Gordon

June 06, 2007 | Daily Report Online

WASHINGTON AP - Securities and Exchange Commission Chairman Christopher Cox was among those who wrote letters supportive of I. Lewis "Scooter" Libby, Vice President Dick Cheney's former chief of staff who was sentenced to 2 years in prison Tuesday for obstructing the CIA leak probe.In a letter to U.S. District Judge Reggie B.

By Marcy Gordon

3 minute read

December 24, 2008 | Daily Report Online

WASHINGTON AP - The Securities and Exchange Commission took a step Tuesday toward a new system of central clearinghouses for credit default swaps, complex investments traded globally that have been partly blamed for the financial crisis.The SEC commissioners approved temporary exemptions from agency rules, a move that will allow LCH.

By MARCY GORDON

3 minute read

June 26, 2007 | Daily Report Online

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

April 06, 2009 | Daily Report Online

By MARCY GORDON

4 minute read

March 05, 2008 | National Law Journal

A new agreement by Fannie Mae and Freddie Mac to only buy mortgages for which appraisals are made by firms independent from lenders will shake up the industry, analysts said. The accord between the two mortgage purchasers and New York Attorney General Andrew Cuomo likely will benefit independent firms and could force lenders with appraisal operations to sell them off. Lenders will not longer be able to use appraisals made by in-house staff, or lender-owned or -controlled appraisal management companies.

By Marcy Gordon

3 minute read

April 28, 2009 | Daily Report Online

WASHINGTON AP - Federal regulators have won a court order freezing the assets of financier Danny Pang, whom they accuse of defrauding investors of hundreds of millions of dollars.The Securities and Exchange Commission said Monday the assets of Pang's two investment companies were also frozen. He was ordered to surrender his passports and bring back to the U.

By MARCY GORDON

3 minute read

September 30, 2009 | Daily Report Online

By MARCY GORDON

4 minute read

April 18, 2008 | Daily Report Online

WASHINGTON AP - The government is expected to announce Friday a settlement with former Fannie Mae chief Franklin Raines and two other top executives for allegedly manipulating earnings and costing shareholders billions of dollars in a 2004 accounting scandal.Terms of the settlement weren't immediately known. Its completion was announced Thursday by The Wall Street Journal online.

By MARCY GORDON

3 minute read

June 30, 2010 | Daily Report Online

WASHINGTON AP - A former CEO of American International Group Inc. says he told the truth about the company's losses while defending its compensation plan.Joseph Cassano, who led AIG from 2002 to 2008, is expected to tell a special panel Wednesday that he did "my very best" to estimate the losses accurately ahead of the financial crisis, according to prepared testimony.

By MARCY GORDON

3 minute read