After getting $700 billion worth of help from Congress, Wall Street got a little more assistance last week, this time from the Second Circuit. The appellate court overturned a ruling that permitted an investment advisor's suit against scores of Wall Street advisors to move forward, finding that the advisor--which sued on behalf of clients who lost money in the meltdown of Adelphia Communications--lacked constitutional standing.

In the face of calls for greater transparency, business groups are honing their arguments against corporate disclosure of political spending. But their rationales just don't cut it.

Institutional investors prevailed in their effort to keep this Article 77 proceeding from being converted into a more far-reaching "plenary" proceeding. But a group of rival objecting investors, including AIG, appeared to convince the judge to allow broader discovery.

It's not over, but the first round goes to the tech guys.

Bank of America and its lawyers at Wachtell have operated mostly behind-the-scenes as the bank's landmark $8.5 billion mortgage-backed securities settlement has been attacked by disgruntled investors and wrenched out of state court and before a federal judge. But in brief urging the Second Circuit to weigh in on the case, BofA not only contested federal jurisdiction but also threatened that the forum fight could kill the $8.5 billion deal entirely.