In January, Rep. Jeb Hensarling, R-Texas, ascended to the powerful chairmanship of the House Financial Services Committee. Six weeks later, campaign finance filings and interviews show, Hensarling was joined by representatives of the banking industry for a ski vacation fundraiser at a posh Park City, Utah, resort.
Bad news for gamblers: The shuttering of InTrade leaves you only the stock market, futures markets, casinos, and other predictive markets on which to blow your time, your money, or both. Assuming, of course, that you understand the difference between all of those things. If you don't, we're here to help.
Wall Street banks paid out nearly $122,000 in bonuses per banker last year, an increase of 9 percent over 2011 — and some 142 percent of the last available median household income recorded in this country.
As he continues to fill out his cabinet, a report emerged late Wednesday that President Obama is "close to choosing" Chicago billionaire Penny Pritzker as America's next Secretary of Commerce.
Royal Bank of Scotland reached a $612 million settlement with authorities today to resolve the Libor scandal, but an investigation has revealed something awfully sinister — they instant-message each other not unlike the rest of us (slightly less morally bankrupt) commoners.
Unemployed Treasury secretaries generally don't stay unemployed for long, but unlike some of his predecessors, newly private citizen Tim Geithner won't be going for the big bucks right away.
Michael Lewis on Goldman Sachs, Steve Kornacki on the remaking of the GOP, Charles C.W. Cooke on Black History Month, Jennifer Vanasco on pedophilia in the Boy Scouts, and Michael Tomasky on the paranoia of the NRA.
Someone had to pay the price for that debacle. And that someone was J.P. Morgan's CEO, who saw his annual bonus slashed to a measly $10 million, a 53.5-percent pay cut from the year before.
Less than two days after it began to draw the ire of, well, pretty much every American taxpayer, the insurer's board met today and decided they wouldn't join a lawsuit against the U.S. government.
If you thought the country's most outspoken big-money watchdog was going to take it easy once she got back to Capitol Hill, you were wrong.
It's been almost five years since AIG's stock dropped 60 percent in a day leaving the company doomed to failure, when Uncle Sam swooped in with $182 billion to rescue it.
Books — staid and intellectual cultural artifacts that they so often are — were not all just staid or intellectual this year. Not nearly. There were, in fact, publishing scandals, dramas, and plot twists galore. Oh, and Philip Roth.
HSBC, Europe's largest bank, is expected to get hit with a fine of at least $1.9 billion, the biggest bank fine ever, to settle money laundering investigations in the United States.
Today in books and publishing: Conflicting takes on Why I Left Goldman Sachs; Amazon "are not pleasant people to do business with"; the genre markings of literary fiction; Animal Farm to be filmed.
Photocopied excerpts of Why I Left Goldman Sachs: A Wall Street Story the tell-all by former Goldman Sachs employee Greg Smith, who quit the finance firm in a New York Times op-ed, have started making their way around Wall Street, before the book's official release on Monday.
Former campaign staffers for Sen. John McCain's failed presidential run have told The New York Times Magazine's Robert Draper that Mitt Romney was in the same room with them almost four years ago during of the discussion the financial crisis which led to McCain deciding to suspend his campaign and return to Washington. And he wasn't much help.
New York Attorney General Eric Schneiderman dropped a bomb on JPMorgan early Monday evening: a multi-billion dollar lawsuit that accuses the bank's subsidiary, Bear Stearns, of defrauding investors.
Today in books and publishing: SEAL's nudges Fifty Shades off top spot; Lewinsky shopping book; iTunes is Vagina-shy; former Goldman banker gets memoir deal.
The U.S. Treasury moved to reduce its stake in AIG to below 50 percent on Sunday as it continued to keep its promise to distance itself from the controversial 2008 bailout.
The banks are starting to rally their support for the Senate. The American Bankers Association are going to start funding super-PACs anonymously in an effort to help the Republicans take back the Senate and they can rid of the pesky financial regulations holding them back.
From the mouths of the investors themselves: The tech start-up world is worse at building successful companies than it used to be.
Nine days ago Ben Lawsky was a no-name financial regulator working for the state of New York, but now he's the front page protagonist behind the largest money laundering settlement in U.S. history.
JPMorgan CEO Jamie Dimon may have spent months crusading against regulations that would've saved his bank some $6 billion in losses, but he's not going to stop crusading. Why not? Allow Dimon to explain: "It’s a free. Fucking. Country.”
Federal Reserve monetary policy decisions are BORING, but less so when compared to watershed cultural moments like Bob Dylan going electric.
If toothless federal regulations is your pet cause, look to Iran for inspiration: It just sentenced four bankers involved in a billion-dollar financial scandal to death.
The most intriguing take on Friday's management shakeup at JPMorgan, which saw Matthew Zames and Frank Bisignano named co-chief operating officers, came from the Financial Times' Tom Braithwaite, who wrote that they look to be part of a short list of possible successors.
Today in the New York Times Luisita Lopez Torregrosa writes that while the top corporate roles like Yahoo's Marissa Mayer, and Hewlett-Packard's Meg Whitman stand as a win for women, the women of Wall Street are enjoying no such enlightenment.
A new study estimates that the "global super-rich elite" are hiding at least $21 trillion in tax havens like the Cayman Islands. And that number is just cash, like real dollars, and doesn't account for real estate or property that would bolster a rich person's net worth.
There's believing in your business and then there's buying $17 million worth of your business's stock three months after suffering billions in massive, embarrassing losses. Jamie Dimon apparently believes JPMorgan will come back following the "London Whale" incident.
Business Insider is the Internet's undisputed king of breathless stock market analysis. But sometimes it's difficult to differentiate bad news from really bad news or good news from the great. We're here to help.
Irvin Goldman, who oversaw risks at JPMorgan until those risks led to a $2 billion $5.8 billion loss in May, has officially left the firm, all this on a big news day (Friday the 13, indeed) for the bank.
As JPMorgan steadies itself after the massive "London whale" loss, former CIO Ina Drew continues to feel the consequences, offering to repay her last two years of salary in what CEO Jamie Dimon called a "maximum clawback."
JP Morgan Chase announced its second-quarter earnings today, but also admitted its first-quarter statements were completely wrong, because some of their employees were deliberately trying to hide their losses.
Newly resigned Barclays CEO Bob Diamond has bravely agreed to forgo his very substantial bonus of $31 million, but he'll still collect a year's salary of about £2 million, or $3.1 million.
This confirms all stereotypes, right? A new survey proves that — yes, indeed — some Wall Street executives are kind of corrupt.
Following an iPhone tracking privacy scandal earlier this year, Google will have to pay the biggest Federal Trade Commission fine ever given to a single company, which for a huge corporation like Google doesn't add up to all that much, showing how little impact even the largest fines have.
Stop us if this sounds familiar: at PFGBest, a well-regarded, Iowa-based brokerage specializing in futures and foreign exchange trading, more than half of the customer funds are missing, its own funds are now frozen, and no one knows what anyone did with the missing $220 million.
Barclays is one of the biggest banks in the world, so the ongoing interest-rate scandal that forced out its chief executive Monday is worth understanding, especially as it threatens to affect other major banks.
An embarrassing and costly trade that got JPMorgan CEO Jamie Dimon called before Congress, may actually cost the bank four times more dollars than originally thought.
A study by two online security companies found that sophisticated crime-rings are stealing tens of millions of dollars by hacking bank computers.
Investors are licking their wounds following Moody's downgrade of 15 of the biggest banks in the world on Thursday afternoon, especially since the hit coincided with the Dow closing down 250 points, bringing the second-worst trading day of 2012. Why did Moody's do it?
It's only been a few years since one of the country's worst financial collapses destroyed the economy but already, the regulatory apparatus designed to prevent another such a catastrophe is being gutted by House Republicans.
As The Nation's George Zornick reports, it's hard to expect Senators to ask tough questions of the CEO of JPMorgan Chase when the members of the Senate Banking Committee are collective sitting on $582,088 in contributions from JPMorgan Chase.
This should give you pause if you're thinking of working in Chinese finance: A Singaporean banker has just been released after nearly three months in detention, and ordered to stay in China for another year, because she worked for a client who fled the country as a fugitive.
From what happened to one German business man, it sounds like you can actually keep some of it.
Just because more people are living alone by choice doesn't mean they don't have their share of problems. Add to that possible trouble: Bank accounts. In particular, those privacy questions you're supposed to answer in order to access your account.
If we had to pick one brand to represent the values of the Occupy movement — or more broadly, America's disdain for big banks — Walmart would definitely not be it.
The billionaire philanthropist is returning investors' money by year's end
The administration will, if need be, act unilaterally to avert a financial crisis
Banks altering risky loans to prevent more foreclosures
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