Nearly five months after some $1.6 billion in customer money went missing at bankrupt brokerage MF Global, the question remains: Will anyone be held responsible? A congressional subcommittee will take up the issue on Wednesday in the latest hearing on Capitol Hill to focus on the firm’s collapse. Watching anxiously will be the 38,000 former MF Global customers who are still missing money and are waiting for someone to be held accountable. “We’ve been arguing for a long time that at a minimum, this was larceny,” said John Roe, a partner at BTR Trading Group who has advocated on behalf of MF Global customers. “This was a company appropriating money that wasn’t its own.” While the case had been quiet in recent months, that changed last week when the subcommittee released a memo detailing a critical $200 million transfer out of an account holding customer funds.
U.S. stocks ended a quiet session lower Tuesday as investors found little reason to push the market up given the strength of the recent rally.
Rising gas prices are likely to curb summer travel plans for both vacationers and business travelers, according to a trade group’s survey.
The bailouts of Bear Stearns and AIG were “distasteful” but still necessary, Federal Reserve Chairman Ben Bernanke told students at George Washington University on Tuesday.
Postmaster General Patrick Donahoe said Tuesday that incentives will be offered to woo some of the 150,000 eligible employees to retire.
The House on Tuesday passed a bill making it easier for more companies to become publicly traded by bypassing audits and disclosures now required for investors.
More bad news for Chinese telecom giant Huawei this week is raising questions about the company’s ability to do business with the West.
More students are relying on loans to help finance their bachelor’s degree, and the amount they’re borrowing is getting a lot steeper too.
For families with college-age children, the financial burden of paying for their college degree has grown sharply over the past two decades.
Over the past 20 years, the price of room and board at both public and private colleges has been rising at a much faster rate than inflation.