Weather Tonight: 4°c Partly Cloudy Night Morning: 8°c Cloudy

Business

Barack Obama
Standing firm: Barack Obama is considering shaking up the Wall Street regulator

Obama to shake up SEC after blunders

20 May 2009


Barack Obama is contemplating stripping Wall Street regulator, the Securities and Exchange Commission, of some of its powers next week in what would be the largest reform of the US financial system in 75 years.

The SEC has been found wanting after it failed to spot the financial crisis and missed the Bernard Madoff fraud. Obama is considering creating a new agency to take over the big role of policing consumer finance.

Also on this topic

Reader views (1)

 Add your view

More shame on Crash Gordon for not doing the same here with our useless FSA that he made into a lame duck!

- Steveo, London, NW1, 20/05/2009 14:31
Report abuse


Add your comment

 

Terms and conditions Make text area bigger You have  characters left.

We welcome your opinions. This is a public forum. Libellous and abusive comments are not allowed. Please read our House Rules.

For information about privacy and cookies please read our Privacy Policy.


 

 

  • Relief for Sir Mervyn as inflation takes a tumble Osb and mervyn Bank of England Governor Sir Mervyn King has gained a major victory in his battle to bring down the spiralling cost of living as inflation...
  • Yell dives as print blow outstrips digital leap Yell Beleaguered Yellow Pages directories publisher Yell has seen its shares plunge as much as a quarter after a worse-than-expected slump in...
  • BHP and Rio bet on copper with mine expansion Rio Tinto The future is looking copper-coloured for BHP Billiton and Rio Tinto after the mining giants announced plans to invest $4.5 billion (£2.9...
  • Why saving may start to make sense again - just Piggy bank savings Long-suffering savers at last had some good news today when inflation fell below 4%, meaning there are now seven standard savings accounts...
  • City says timing wrong in Moody's UK rating threat Euro City economists have raised doubts over the timing of the threat by rating agency Moody's to slash the UK's AAA sovereign credit score,...
  • Hotel giant goes for Olympic gold as profits wow the City Intercontinental Hotels Hotelier InterContinental Hotels is looking to emerging markets and especially China to drive future growth
  • Bloomsbury takes a new passage to India Fashion book Publisher Bloomsbury is to set up a new business in India to take advantage of rapidly growing demand from the country's English-speaking...
  • Thai disaster floods Lloyd's with a bill for £1.4 billion Lloyd's of London Thailand's worst flooding in 50 years last October will cost the Lloyd's of London insurance market $2.2 billion (£1.4 billion), it has...
  • Bank of Japan increases stimulus to boost growth Japan Bank of Japan has added 10 trillion yen (£83 billion) to its 20 trillion yen pool of funds set aside for asset purchases in a surprise move
  • Brammer sees profits jump Box of tricks: DIY tools can be expensive to buy Industrial services group Brammer has posted a 41% jump in full-year pretax profit on strong demand
    •  
    Market Roundup
    TUESDAY UPDATE

    Valentine's massacre as City dumps Hampson

    No one likes getting rejected on Valentine's Day

    More