Investing

Cuomo Today Announces His Office is Focusing Attention on other Industry Players Including JP Morgan Chase, Morgan Stanley and Wachovia

NEW YORK, NY (August 11, 2008) - New York Attorney General Andrew M. Cuomo today announced his office is expanding its investigation into the auction rates securities scandal. Cuomo today sent letters to JP Morgan Chase, Morgan Stanley and Wachovia announcing that his office will look into the firms’ behavior pertaining to misrepresenting auction rate securities to investors as safe, cash-equivalent products, when in fact they faced increasing liquidity risk.

Last week Cuomo’s office secured landmark agreements with UBS and Citigroup that will return over $20 billion to investors across New York State and the nation.    » read more »

Auction Rate Security Investors Recover Billions

August 8, 2008 -- NEWARK -- New Jersey Attorney General Anne Milgram announced today that the N.J. Bureau of Securities, as part of a national task force with other state regulators, and the Securities and Exchange Commission reached a settlement with UBS Securities LLC and UBS Financial Services, Inc. that will give thousands of UBS clients, including New Jersey investors, access to billions of dollars in funds that have been frozen in the auction rate securities (ARS) market.    » read more »

Washington, D.C., Aug. 11, 2008 — The Securities and Exchange Commission today announced the distribution of more than $48 million to more than 12,000 investors who were victims of fraudulent financial reporting by media conglomerate Vivendi Universal, S.A. Investors receiving checks reside in the United States and in 15 other countries. More than half bought their Vivendi stock on foreign exchanges and are receiving their Fair Fund distribution in euros.

"Today we are able to provide financial remediation to investors who were misled by Vivendi's false financial reporting," said David Nelson, Regional Director of the Commission's Miami Regional Office. "I am particularly gratified that we have been able to identify and help investors not just in this country, but overseas as well."    » read more »

EL SEGUNDO, Calif., July 1, 2008 -- Mattel, Inc. (NYSE:MAT - News) today announced that it will webcast its quarterly conference call on Friday, July 18, 2008 at 8:30 a.m. Eastern time (5:30 a.m. Pacific time). Led by the company's chairman and chief executive officer, Robert A. Eckert, the conference call will cover the company's 2008 second quarter financial results, which will be released prior to the call.    » read more »

As President, Barack Obama will restore common-sense regulation to ease the impact of soaring gas prices

June 22, 2008 -- Chicago, IL - Senator Barack Obama today announced his plan to crack down on excessive energy speculation and fully close the "Enron Loophole" to ease the impact skyrocketing gas prices.

California gas prices, June, 2008: Photo by .pie (CC)    » read more »

June 17, 2008 -- WASHINGTON, DC – United States Senators Dick Durbin (D-IL) and Tom Harkin (D-IA) chaired a hearing today to investigate how excessive speculation in the oil market may be contributing to the historic run on oil and gas prices.

The hearing, held jointly before the Senate Appropriations Subcommittee on Financial Services and General Government and the Senate Committee on Agriculture, Nutrition, and Forestry, probed the Commodity Futures Trading Commission’s (CFTC) role in regulating the market and what tools and resources the agency needs to ensure it is able to be a robust market watchdog.    » read more »

Measure would level the playing field in energy futures markets

June 13, 2008 -- Washington, DC – In the wake of growing concerns about the impact of speculation, U.S. Senators Dianne Feinstein (D-Calif.) and Ted Stevens (R-Alaska) have introduced legislation to require the Commodity Futures Trading Commission (CFTC) to impose the same position limits on institutional investors to which other investors now are subject. This legislation would essentially level the playing field in energy futures markets.

Under current law, CFTC is required to impose speculation limits on the size of energy trader positions. However, in practice, CFTC regularly exempts institutional investors from position limits, when investors execute their trades through brokers or dealers.    » read more »