The much-anticipated final regulations implementing the Volcker Rule will be released today and, almost miraculously, it seems to be significantly stronger than the proposed text publicized more than a year ago. We will all have to await the actual wording since this is an area in which the devil is

The bill for decades of Detroit's financial decline has now come due. A federal judge's ruling approving the largest municipal bankruptcy in U.S. history Tuesday sets the stage for an epic legal battle over who will be asked to help pick up the tab, including bond investors, retired city workers

The largest city in American history to file for bankruptcy protectionis officially bankrupt.

In fact, the Volcker rule is already federal law, passed as part of the massive financial sector overall bill known as the Dodd-Frank Act, signed in 2010. But since that time, five separate regulatory agencies, including those that focus on the markets and others on the banks, have been working to

One of the most simplistic fictions is that corporate elites are spearheading a "class war" all on their own, driving down wages to squeeze out higher profits in the name of greed. Of course, that's not actually the way modern shareholder capitalism works. Instead, most CEOs and executives -- and

Modest Pension Benefits Play Little Role in Financial Crisis DETROIT — In their push for bankruptcy, Emergency Manager Kevyn Orr and other public figures are incorrectly looking at Detroit’s long-term debt—figures generated using aggressive and in some cases inaccurate assumptions—to the detriment

A historic $13 billion settlement is in the works between the federal government and JP Morgan -- the biggest-ever penalty for wrongdoing by a bank. But this settlement is unlikely to deter tomorrow's lawbreakers in finance, and here's why.

“We are on strike today to have respect and dignity at work,” says Walter Melendez, one of approximately 40 Los Angeles port truck drivers who walked off the job at 5a.m. morning in protest of alleged unfair labor practices. The strikes featured the rolling “ambulatory pickets” that the truckers

There are few better ways to uncover fraud in an industry than to incentivize insiders to blow the whistle on wrongdoing. And a little known part of Dodd-Frank did just that for the securities industry, creating a new whistleblower program run by the SEC that can bestow huge rewards on anyone who

If asked, Americans of all political persuasions will say overwhelmingly that they prefer “ tougher rules” for Wall Street. But what does that actually mean?