Obama pledges tough enforcement of Wall Street reforms

U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp DavidWASHINGTON (Reuters) – President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $ 2 billion trading loss at JPMorgan underscored the need for such regulation.



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Obama: More teeth needed for Wall Street reforms

President Barack Obama waves as he walks from the White House in Washington, Friday, May 18, 2012, to board Marine One, as he travels to Camp David for the G8 Summit. (AP Photo/Carolyn Kaster)President Barack Obama says the big trading loss at JPMorgan Chase shows the need for Congress to put more teeth into Wall Street reforms intended to prevent the practices that led to the 2008 financial meltdown.



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Obama pledges tough enforcement of Wall Street reforms

U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp DavidPresident Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $ 2 billion trading loss at JPMorgan underscored the need for such regulation. “We’ve got to finish the job of implementing this reform and putting these rules in place,” Obama said in a weekly radio address that accused some on Wall Street of causing the 2007-2009 economic crisis because they “treated our financial system like a casino. …



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Small investors should not directly trade in equities: SEBI

New Delhi, May 19 (IANS) Small investors should not start trading directly in stock market as they don’t have adequate resources to take informed decision, chairman of the Securities and Exchange Board of India (SEBI) U.K. Sinha said Saturday.
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Obama pledges tough enforcement of Wall Street reforms

U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp DavidWASHINGTON (Reuters) – President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $ 2 billion trading loss at JPMorgan underscored the need for such regulation. “We’ve got to finish the job of implementing this reform and putting these rules in place,” Obama said in a weekly radio address that accused some on Wall Street of causing the 2007-2009 economic crisis because they “treated our financial system like a casino. …



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Nasdaq glitches in Facebook IPO to be reviewed by SEC

Washington, May 19 (ANI): The United States Securities and Exchange Commission (SEC) will look into the glitches in Nasdaq’s handling of Facebook’s Initial Public Offering (IPO), according to a report.
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Highlights from Facebook’s debut

Electronic screens inside the Nasdaq stock market announce the listing of Facebook shares before the start of trading, Friday, May 18, 2012 in New York. The world's definitive online social network raised $  16 billion in an initial public offering that values the company at $  104 billion. (AP Photo/Mark Lennihan)Facebook’s debut on the stock market was preceded by epic hype, delayed by a technical glitch and tracked minute-by-minute by investors around the world. In the end, the fuss was over a gain of 23 cents.



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Wall St Week Ahead: The market is oversold, but major signs say “sell”

A street sign stands outside of the New York Stock ExchangeNEW YORK (Reuters) – Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist. …



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