Top Regulators to Testify on Dodd-Frank Progress
The nation’s top financial regulators will testify before the Senate Banking Committee on Thursday regarding the progress of the Dodd-Frank Act.
AIG Weighs Joining Suit Against Government
The lawsuit, filed by former chairman Maurice “Hank” Greenberg, argues that the government was unfair to its shareholders through the way it conducted its bailout of the insurer.
Treasury Sells Remaining AIG Shares, Profiting From Bailout
The Treasury Department on Tuesday sold its remaining 16% of AIG common shares for $7.6 billion, putting an end to the government’s 50-month shotgun financial tryst with the global insurer.
Judge Says Greenberg Accusations Against Fed ‘Worthy of an Oliver Stone Movie’
A federal district court judge in New York on Monday dismissed a lawsuit brought by former AIG chief Maurice “Hank” Greenberg against the Federal Reserve Board regarding the Fed's rescue of AIG in 2008.
Estate Tax Indecision by Congress Could Mean Big Tax Liabilities
Nearly 15 million U.S. households—or 12.5%—would have a potential estate tax liability if Congress fails to act when the extension to the Bush tax cuts expires on Jan. 1.
Middle-Income Earners in Urgent Need of Advice: Survey
A new joint report by the CFA and Primerica has found that two-thirds of middle-class Americans acknowledge having made financial mistakes—with the average cost being $23,000.
Fed Launches QE3 With Open-Ended Security Purchases
The Federal Reserve has launched a third round of quantitative easing, pledging to expand its balance sheet by nearly a half a trillion dollars a year beyond existing commitments. An LPL analyst called the move "not very bold."
AIG Stock Sale Could Trigger Federal Regulation
American International Group is on the verge of becoming the first insurance holding company ever regulated by the federal government.
New Hire Roundup: TD Ameritrade Institutional Adds Dario
Also this week in new hires, Joseph Nader joined Wescott Financial Advisory Group; Will Proctor went to a new spot at Neuberger Berman; and more.
Loring Ward Helps Parents Teach Kids About Money
Helping families teach children about finances is a way advisors can take “a more comprehensive, holistic approach to wealth, instead of only focusing on investments,” a Loring Ward executive says.