Judge Louis L. Stanton of United States District Court has established Wednesday as the deadline for Bernard L. Madoff, who is accused of operating a $50 billion Ponzi scheme, to provide federal securities regulators with a full accounting of his and his New York firm's assets - from real estate to art works to bank accounts. Read More
Robert Rubin will resign from the beleaguered Citigroup. As Treasury secretary during the Clinton administration, Mr. Rubin helped loosen Depression-era banking regulations that made Citigroup's creation possible. He also helped beat back tighter oversight of exotic financial products during that time. Read More
In the wake of the Bernard Madoff Ponzi scheme scandal, the SEC has brought cases involving losses of over $200 million since the beginning of October last year, including one against the disgraced Democratic donor Norman Hsu and North Carolina-based Biltmore Financial. Read More
As Bank of America's board meets next week, shareholders have turned up the pressure on CEO Kenneth D. Lewis. Their scrutiny has also turned an unusual spotlight on the oversight role played by the bank's board members. Read More
Prosecutors pursuing the fraud at Satyam Computer Services Ltd. said Tuesday the Indian technology outsourcer's founder, B. Ramalinga Raju, should be denied bail because he could slow the investigation if released. Read More
UBS AG, the Swiss bank battered by massive write-downs and its role in a U.S. tax-evasion scheme, announced the surprise departure of chief executive Marcel Rohner. Mr. Rohner's sudden departure comes after UBS agreed earlier this month to a $780 million settlement with the U.S. Justice Department of a criminal inquiry into the bank's role in the tax evasion. Read More
The Bank of New York Mellon was named the master custodian firm overseeing the Treasury Department's $700 billion bailout fund. It will hold and track the distressed assets that the government will buy as well as run and report on the auctions used to buy the assets. Government officials called it the "prime contractor of the purchase program." Read More
ATLANTA (March 30) -- Just in time for April Fool's Day, Earth Day 2000, the consumer clearinghouse for the environmental decade, released ''Don't Be Fooled,'' its annual report highlighting the top 10 greenwashers of the previous year. Read More