Topic: U.S. House Committee on Financial Services
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Ron Paul vs. the Federal Reserve: four epic moments
Ron Paul hasn't been the Federal Reserve's only critic, but he ranks among the most consistent and persistent in his charge that the Fed has debased the dollar and destroyed the wealth of Americans.
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Facebook IPO: Six key dates in its debacle
Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
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Briefing
Five things Ron Paul wants from the Republican National Convention
It looks as if Ron Paul is going to be an active participant in the Republican National Convention in Tampa this August. Here’s our take on the five things Paul hopes to gain from staying within his party’s tent in 2012.
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Photos of the Day: Photos of the Day 03/02
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The Vote
Big losers in 'fiscal cliff' talks? Tea party, perhaps.House Republicans say Election 2012 validated their tea party-backed revolution two years earlier. But two moves Monday suggest that House leaders are turning away from the movement.
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Ron Paul's last hurrah: a big, bipartisan vote to 'Audit the Fed'
Today's vote marks a high point for Paul, who is retires at the end of the year. His signature bill requires a full audit of the Federal Reserve – a move that critics, including Fed chair Ben Bernanke, dub 'nightmarish.'
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Apple's earnings miss could undermine wobbly market
Apple stock falls in after-hours trading after it reports disappointing quarterly earnings and revenue. Apple faces same headwinds as other multinationals with lower earnings this quarter.
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Ron Paul vs. the Federal Reserve: four epic moments
Ron Paul hasn't been the Federal Reserve's only critic, but he ranks among the most consistent and persistent in his charge that the Fed has debased the dollar and destroyed the wealth of Americans.
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The Vote
Ron Paul vs. Ben Bernanke: final battle ends on surprising noteWith Rep. Ron Paul retiring this year, his epic battles with Federal Reserve chairmen are coming to an end. But his last run-in with Ben Bernanke took a more reflective turn.
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Dimon in the hot seat before Congress
The JPMorgan Chase CEO was in front of Congress for a second time; he is under fire for a $2 billion trading loss.
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JPMorgan Chase CEO: Shareholders had risk info
JPMorgan Chase CEO Jamie Dimon insisted his bank did its best to inform investors about its risk strategy preceding its $2 billion-plus trading loss. JPMorgan Chase used risk assessment models that provided the best information at the time, according to Dimon.
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Jamie Dimon fields Congress questions on $2B trading loss
Jamie Dimon, the embattled JPMorgan Chase CEO, returns to Congress Tuesday to face more questions about the $2 billion trading loss incurred by the bank. Jamie Dimon is testifying before the House Financial Services Committee.
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Facebook IPO: Six key dates in its debacle
Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
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Facebook lawsuits: Did all shareholders get same data in IPO?
Facebook lawsuits charge that banks in charge of IPO didn't share company information with all shareholders. In addition to Facebook lawsuits, two congressional committees are also investigating the IPO.
- Briefing
Five things Ron Paul wants from the Republican National Convention
It looks as if Ron Paul is going to be an active participant in the Republican National Convention in Tampa this August. Here’s our take on the five things Paul hopes to gain from staying within his party’s tent in 2012.
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Key Republican lawmaker questions JP Morgan loss
The chairperson of the House Financial Services subcommittee, Shelley Moore Capito, discussed the loss during hearings.
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JPMorgan Chase trading fiasco: What to do about big banks?
JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
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Obama signs STOCK Act, banning insider trading by members of Congress (+video)
Obama said the move to bar insider trading among lawmakers would assure everyone 'plays by the same rules.'
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Goldman resignation tip of iceberg
While Greg Smith's public resignation has attracted media attention, regulators and Wall Street insiders say Goldman Sachs' problems come as no surprise.
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Why Congress is warming up to ban on insider trading
On Tuesday, the House Financial Services Committee launched a hearing on legislation that would explicitly ban members of Congress from insider trading.
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House committee subpoenas former MF Global CEO Jon Corzine
The former CEO of the bankrupt investment firm has been called before a congressional committee next week.
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Barney Frank exit may signal the end of glory days for Mass. Democrats
Barney Frank will not seek re-election in 2012, but will there be enough Democratic fire power left in Massachusetts after he's gone?
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The Vote
Why is Rep. Barney Frank retiring? (VIDEO)Rep. Barney Frank (D) of Massachusetts, who has served for 16 terms, will not seek reelection. Here are three reasons he might have made that decision.
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Barney Frank to retire after three decades
Rep. Barney Frank's office says he will hold a 1 p.m. news conference in Newton, Mass. to make the formal announcement that he will not run for reelection in 2012.
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Freddie Mac, on taxpayer support, pays big bonuses
Freddie Mac, Fannie Mae defend $13 million in bonus payments. Executives tell House committee that bonuses needed to keep qualified staff at Freddie Mac and Fannie Mae.
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Fannie Mae and Freddie Mac regulator throws lifeline to underwater homeowners
Fannie Mae and Freddie Mac: The overhaul, which would only help a fraction of the country's 11 million underwater borrowers, is the latest government effort to breathe life into the crippled US housing market.
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The New Economy
Fed bashing is back in vogueThe Federal Reserve is getting a lot of healthy criticism. But the moves by politicians are worrying.
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US debt downgrade is possible, not inevitable
Deven Sharma, president of Standard & Poor's, told a House subcommittee Wednesday that if lawmakers can work out a 'grand bargain' with $4 trillion in deficit cuts over the next decade, the US may yet keep its AAA rating.
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Ben Bernanke: High unemployment rate to persist, even as economy revives [VIDEO]
Ben Bernanke said on Capitol Hill Wednesday, the pace of the US economy 'will pick up in coming quarters.' But the unemployment rate will decline slowly, he said, citing 'headwinds.'
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