Surprise! Obama Foundation Cashing In With Wall Street

Politics | Richard Pollock

Hedge-fund and private-equity founders dominate the early giving to the new Barack Obama Foundation, which is raising money for the official Obama Presidential Library, according to a Daily Caller News Foundation analysis.

UBS unit pays $300,000 to settle SEC charges - Reuters

Business | Kells Hetherington

Administrative action against UBS Global Asset Management came on the heels of a referral from SEC examiners

Law to find tax evaders denounced - NYT

Business | Kells Hetherington

Noncompliance would be punished with a withholding charge of up to 30 percent on any income and capital payments the company gets from the United States

Citigroup to cut 4,500 jobs over next few quarters - AP

Business | admin

Citi and other banks took accounting gains in the third quarter because the cost of its debt fell in the bond market

UBS: Here are the 19 countries most likely to default - Business Insider

Business | admin

With the the turmoil in Italy, Ireland is having a harder time convincing markets and investors that it could escape contagion

UBS CEO Gruebel resigns over rogue trading loss - AP

Business | admin

London-based UBS trader Kweku Adoboli was arrested last week and charged with fraud and false accounting for the $2.3 billion loss

Grand jury investigating eight offshore banks for aiding tax evasion - Bloomberg

Business | InternAdmin

Justice Department says action has dealt ‘Swiss bank secrecy a devastating blow’

UBS trader ordered held over fraud allegation - AP

Business | interns

Magistrate orders alleged rogue trader held until Sept. 22

Trader in UBS case charged - AP

Business | InternAdmin

Kweku Adoboli charged with fraud and false accounting as investigations continue

UBS under pressure to explain $2B trading scandal - AP

Business | admin

Moody’s puts bank’s credit rating on review

Rogue trader suspected in $2 billion loss at UBS - AP

Business | InternAdmin

U.K. police have arrested trader Kweku Adoboli on allegations of fraud

UBS sued for mortgage-backed securities sold to Fannie and Freddie - Bloomberg

Business | InternAdmin

Federal Housing Finance Agency will take the financial services giant to court on charges UBS misstated risks

US prosecutors dismiss UBS criminal tax case - AP

Business | admin

UBS was taken off probation after it paid a huge fine and agreed to turn over names of thousands of suspected tax cheats

Puts and Calls: Blackberries and Swiss accounts no longer safe - The Daily Caller

Business | Jeff Winkler (admin)

Derivative language and Fed power stay in financial reform; Swiss give bank records to the IRS; massive mortgage scam arrests; you better stop sending personal text on your company Blackberry!!!

Morgan Stanley probed by federal authorities; shares fall - FOXBusiness

Business | interns

Regulators have set their sights on Morgan Stanley as the Wall Street bank is reportedly being investigated by federal prosecutors over whether or not it misled investors about mortgage-related deals

Who's next to be called to Washington? - ABC News

Business | interns

Regardless, industry members and securities lawyers say, a tidal wave of regulatory complaints could soon strike Wall Street’s powerhouses, and not just Goldman Sachs. On Friday, the SEC slapped Goldman with a civil suit alleging fraud

Unilateralism is no path forward on financial regulatory reform - ECONOMIC POLICIES FOR THE 21st CENTURY

| interns

After months of emphasizing the need to coordinate a global regulatory response to the global financial crisis, the Administration has done an about-face. Instead of working in concert with international partners, the Administration now wants to enact reform unilaterally so as to “set the global agenda”

The euro bounces back from nine-month lows - FINANCIAL TIMES

Business | interns

A much more positive mood than of late enveloped markets on Tuesday, as traders appeared to reason that a tougher tone from the EU towards Greece might help contain the eurozone’s debt difficulties