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NATIONAL
March 14, 2009 | David Zucchino
If you didn't know John Jones, you'd assume he was just another overworked securities trader, hustling across the sidewalk to wolf down a quick lunch in this city's financial district. But when Jones sits down, his recent past is on full display. Titanium shins poke out from the cuffs of his dress slacks, revealing prosthetic legs. Jones was a Marine staff sergeant in Iraq in 2005 when a land mine blew off both legs below the knees.
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BUSINESS
November 18, 2008 | Bloomberg News
The Securities and Exchange Commission, facing congressional questions over its vigilance in policing Wall Street and corporate fraud, said Monday that it im- posed more than $1 billion in sanctions in the last fiscal year. Fines and orders extracting ill-gotten profits surpassed that amount in the 12 months that ended Sept. 30, the SEC said in an annual report, without giving specific figures. The agency imposed $1.
NATIONAL
October 25, 2008 | Geraldine Baum, Baum is a Times staff writer.
Mona Mond had a plan -- and it didn't include Wall Street going haywire and giving up a three-bedroom house with a half-acre yard for a small apartment. She'd married a man with a career on Wall Street, and at the very least she was going to live in a house, preferably brand new, with a Jacuzzi in her bedroom and a pool in that yard. There'd be a maid -- and no skimping, no worrying that any day Amar, her husband, would lose his job.
BUSINESS
October 2, 2008 | Tom Petruno, Times Staff Writer
The Securities and Exchange Commission has backed away from its plan to force money managers to disclose publicly how they've "shorted" stocks. The agency late Wednesday announced changes to a series of emergency rules it put in place beginning Sept. 17 to curb short selling, which has been fingered -- some say unfairly -- as a major cause of the collapse of many bank and brokerage stocks. As expected, the SEC, under Chairman Christopher Cox, said it would extend its outright ban on shorting of nearly 1,000 financial stocks beyond the scheduled expiration today.
BUSINESS
October 2, 2008 | Ariana Eunjung Cha, The Washington Post
Looking down from his building's 87th floor at the glittering signs of multinational banks along the river here, Fan Dizhao declared confidently that Wall Street's reign as the world's No. 1 financial hub is coming to an end. The United States is grappling with its worst economic crisis since the Great Depression, but these are go-go days in China. Venture capital, private equity and foreign direct investment are at all-time highs.
BUSINESS
July 16, 2008 | Tom Petruno, Times Staff Writer
The Securities and Exchange Commission on Tuesday stepped up its war against what it believes is manipulation of stocks by "short sellers" -- traders who bet on falling share prices. SEC Chairman Christopher Cox surprised Wall Street with a plan to curb illegal short selling in 19 major financial company shares, including embattled mortgage titans Fannie Mae and Freddie Mac. Shares of Fannie and Freddie have been big targets of bearish traders this year.
BUSINESS
April 18, 2008 | From Times Wire Services
New York's attorney general and securities regulators in nine other states are probing auction-rate securities and the role Wall Street firms had in enticing investors into the troubled $330-billion market. New York Atty. Gen. Andrew Cuomo's office launched an investigation this week, sending subpoenas to 18 broker-dealers and banks, people familiar with the probe said Thursday. The securities were long touted as cash-like investments, attracting both individual and institutional investors, until the credit crunch led to a breakdown in the market.
BUSINESS
October 17, 2007 | From Times Wire Services
Foreigners sold a record amount of U.S. securities in August as a global credit crunch sparked an exodus from stock and bond markets, the Treasury Department said Tuesday. In a separate report, the United Nations said that last year the U.S. was once again the favorite destination for companies investing in businesses outside their home countries. The Treasury's monthly report on foreigners' transactions in domestic equities and long-term debt securities said overseas investors sold a net $34.
BUSINESS
July 25, 2007 | Walter Hamilton, Times Staff Writer
The private equity boom that has helped drive the 4 1/2 -year-old bull market in stocks is facing severe pressure as investors chastened by the sub-prime mortgage debacle balk at financing risky deals.
BUSINESS
July 12, 2007 | Walter Hamilton, Times Staff Writer
A Calabasas-based securities broker was accused Wednesday of taking improper payments from a mutual fund company that he recommended to union retirement plans. Michael L. Bullock violated securities rules by accepting $262,500 in payments in 2002-03 from fund giant Massachusetts Financial Services Co. and then deceiving clients about taking the money, according to the NASD, the brokerage industry's chief regulator.
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