IRS files lien against Goldman Sachs partnership
Goldman Sachs Mitsui Marine Derivative Products--a partnership Goldman set up to trade derivatives as part of deals with various municipal entities--has been hit with a tax lien worth $1.5 million by
Fraud artists at Morgan Stanley get to keep bonus
What will become of Julian Tzolov and Eric Butler, the former Morgan Stanley (NYSE: MS) employees who each got a $4.5 million loans from the firm when they joined in 2007. Their Morgan Stanley
Settlements over auction rate securities proliferating?
Recall that the market for auction rates securities (ARS) seized up at the height of the financial crisis, leaving many investors fuming. Indeed, the suddenly frozen market left some buyers with
Goldman Sachs resigned to court battle?
As expected, Charles Schwab sued
New York Attorney General Andrew Cuomo's suit against Charles Schwab is certainly not all that surprising given the other cases of ARS related improprieties. Several firms have been accused of
Cuomo looks into Fidelity-Goldman Sachs link
Goldman Sachs has already agreed to buy back about $1.5 billion in auction rate securities held by customers and pay a $22.5 million fine. But the New York Attorney General is still looking into the
Latest foe of naked short selling: South Dakota
For a lot of industries, there's little worse than state-by-state regulation. Some have been known to invite federal regulation if it would pre-empt state regulation. Which brings us to South Dakota
UBS aiming for a break up?
What to make of the latest UBS news? The bank is breaking into three distinct business units--Wealth management (sort of private banking), asset management and investment banking--and has been
UBS to settle ARS issues for nearly $19.4 billion
We thought Citigroup might become the poster child for the auction rate securities scandals--yes we can now use that term--given the fact that New York regulators are
Auction rates securities settlements in perspective
The news that Citigroup and Merrill Lynch will reimburse individual investors burned by auction rate securities to the tune of $17 billion is certainly eye-catching. The New York Times notes that the
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