Regulators "now have the tools to do that" under the recently passed Dodd-Frank law, he said, and will force firms to divest or restructure if they pose an untenable risk to the broader economy. Read the rest at the Wall Street Journal.
Thursday, September 2, 2010
Ben Bernanke: Too big to fail problem must be solved
Regulators "now have the tools to do that" under the recently passed Dodd-Frank law, he said, and will force firms to divest or restructure if they pose an untenable risk to the broader economy. Read the rest at the Wall Street Journal.
Monday, August 9, 2010
Fergie's financial meltdown leads to voluntary bankruptcy recommendation
An embarrassing video released to a British tabloid several months ago illustrated the extent to which the Duchess has sunk with regard to her financial situation. The clip shows her arranging a deal with a journalist to meet her former husband Prince Andrew - from whom she gets her royal title.
Following this incident, Ferguson publicly admitted her financial troubles after many years of speculation in the press.
According to the Sunday Telegraph, the Duchess' debts have risen to around £5 million ($10.9 million). The newspaper also reported that one known advisor working for Buckingham Palace has advised Ferguson to file for voluntary bankruptcy.
David Cameron, the recently elected British Prime Minister, has reportedly been briefed on the issue. It was noted in the report that no member of the royal family has ever been declared bankrupt before.