A member of a blue-ribbon panel appointed by California Gov. Arnold Schwarzenegger to make recommendations on improving the state’s tax code said the panel’s members are philosophically opposed to taxing professional fees or any other “non-tangible” services but warned that dire economic conditions may make such opposition moot.
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Former Federal Reserve Board Chairman Alan Greenspan said yesterday that temporary nationalization of U.S. banks may be necessary.
John W. Goff, owner of the Goff Group, may face at least 20 years in prison after his conviction yon charges of mail fraud, embezzlement and filing false documents.
When the SEC declared that equity index annuities are securities last year, it ignored the McCarran-Ferguson Act.
New residential-housing construction permits continued to decline last month, falling 4.8% from December.
The SEC today charged that Allen Stanford and his financial companies also falsely promoted the Stanford Allocation Strategy fund mutual fund wrap program.
Smith Barney has lost 15 advisers in the Baltimore area to Robert W. Baird & Co. Inc.
Poor performance by hedge funds has driven some brokerage firms to reduce services to the funds, including financing, the Wall Street Journal reported today.
American Funds Investment Co. filed last week with the Securities and Exchange Commission to create a new money market mutual fund.
