Latest Christopher Cox Stories
Following are remarks on the economy made Friday by U.S. President George Bush in Washington. Good morning. I thank the treasury secretary, Hank Paulson, Federal Reserve Chairman Ben Bernanke and SEC Chairman Chris Cox for joining me today. This is a pivotal moment for America's economy.
The past week's madness in the financial markets kicked off with the Lehman Brothers (LEH) bankruptcy. Then came the AIG (AIG) bailout. Now there's an apparent war against short-sellers.
By Brian Knowlton After days when his reaction to the financial crisis had appeared less than confident, Senator John McCain went on the offense Thursday, calling for the creation of a proactive financial oversight body and the dismissal of the head of the Securities and Exchange Commission.
By Patrick Rizzo, Jeannine Aversa and Martin Crutsinger Associated Press WASHINGTON -- The stock market finally found reason to rally Thursday, and Congress promised quick action as the Bush administration prepared a plan to rescue banks from the bad debt at the heart of the worst crisis on Wall Street since the Great Depression.
The U.S. Securities and Exchange Commission announced an immediate ban on short selling for 799 financial stocks Friday to stabilize stock prices. The ban, put together in tandem with a short-selling ban in Britain, is in effect for 10 days, but could be extended to 30, the SEC said.
By Kevin McCoy Efforts to stop suspected illegal short selling of stocks intensified Thursday as a top state law enforcer announced an investigation and the nation's three largest public pension funds said they would stop lending some financial stocks to short sellers.
Republican US presidential candidate John McCain said Thursday he'd fire the Security and Exchange Commission chairman for "betraying the public trust."
By Martin Crutsinger Associated Press WASHINGTON -- The Federal Reserve announced late Sunday several steps to cope with the worst credit crisis in decades, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed. The action came as U.S.
- Stoppage; cessation (of labor).
- A standing still or idling (of mills, factories, etc.).