The bankruptcy trustee for the holding company of failed commodities broker MF Global has filed a lawsuit against Jon Corzine, its former CEO, along with other executives. Tiffany Kary, Bill Milford at Bloomberg, April 23, 2013.
Senators Brown and Vitter have proposed significant capital requirements for large banks. Could this be a step toward ending TBTF? Danielle Douglas at the Washington Post, April 24, 2013.
In a perfect illustration of the fragility of our current market structure, equities plunged by 1% on Monday after hackers broadcast a tweet about a bomb at the White House using the AP’s account. Prices recovered when the hoax was revealed. Edmund Lee at Bloomberg, April 24, 2013.
Austerity takes it toll in England, where the number of people seeking emergency food assistance has risen by 270% in the past year. Charlie Cooper, Ed Frankl at The Independent, April 23, 2013
- Martin Smith, who produced that devastating Frontline segment on the failure to regulate banks, has delivered an equally compelling indictment of the retirement industry in the U.S. Frontline, The Retirement Gamble, April 23, 2013.
- The incoming enforcement chief at the SEC was a key player in last year’s bank-exonerating National Mortgage Settlement, and has argued in a law journal that prosecution in the most complex cases may be too expensive to be effective. Hard to imagine a less inspiring figure in that role. Pam Martens at Wall Street on Parade, April 23, 2013.