Stripped: During a shareholder meeting that at times seemed more like a circus, investors voted to strip Ken Lewis of his chairmanship of the board. The embattled financier will remain CEO of the company -- for now, at least.
"You Sneeze, You Go Home": That's the rule at Mexico City brokerages, where stock traders slip on face masks in between client phone calls.
Look On the Bright Side: Hidden amongst yesterday's dismal GDP report were some promising figures. Consumer spending was up, for instance, and the price index rose enough to dispel fears of deflation.
Can the SEC Do Anything Right?: Apparently not, according to the Wall Street Journal. The regulator has started hiring specialists to investigate particular types of financial wrongdoing, moving away from a generalist model. This threatens to creat a "'silo' system in which different groups benefit from not sharing information with each other."
Hedge-Clipping: A new proposal to regulate hedge funds and private equity firms in the EU has some Londonites up in arms.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
