0 results for 'JPMorgan Chase'
Fed's strategy reduces U.S. bailout to $11.6T
The Federal Reserve decided to keep pumping $1.25 trillion of new money into the mortgage market to focus on rescuing the U.S. economy as the financial system revives and banks ask for less help.The Fed is allowing some of the 10 support programs it created or expanded after the credit crisis began in August 2007 to expire or shrink.By tackling the glaring conflict of interest created by a credit rating system beholden to issuers, Obama's pick to lead the SEC could prove she plans to live up to her reputation for toughness.
Courts of Appeal Issue Rulings on D&O Insurance Disputes
In their Corporate Insurance Law column, Howard B. Epstein and Theodore A. Keyes of Schulte Roth & Zabel analyze two recent cases in which the state Court of Appeals addressed coverage questions concerning an insured's claim for recovery of disgorgement payments made as part of an SEC settlement, and the Second Circuit addressed the issue of whether underlying layers of insurance must be exhausted by actual payment as a condition to triggering excess insurance.Morgan Stanley Leads Wall Street Equities Trading Revival
Morgan Stanley and Goldman Sachs led Wall Street banks in posting a collective 42 percent increase in equities-trading revenue in the second quarter, the largest jump in more than three years.Viability of banks with trust accounts an issue
Following the failure of California's IndyMac and the very real potential of other bank collapses, lawyers have been flooding bar associations with questions about whether they would be responsible for client trust accounts if a bank fails. In response, bar associations have been posting guidance to lawyers on their Web sites, holding internal meetings on the issue and issuing formal ethics opinions.Rulings on Fraud in Inducement, Promise to Use 'Best Efforts'
In his Contract Law column, Glen Banks, of Norton Rose Fulbright, reviews recent decisions, including one that follows the principle that when a sophisticated party chooses to proceed with a transaction despite notice that warranties made to it were not true, that party may not later claim fraudulently inducement, and another that allowed a court to give meaning to ambiguous language where custom in the trade clearly showed the meaning of the language.Trending Stories
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