Tagged: Wall Street

Former New Jersey Gov. Jon S. Corzine directly ordered that $200 million from a segregated customer account be transfered to cover a $175 million overdraft in a London account. That's according to a memo (pdf) from the House Committee on Financial Services, which is scheduled to hold a hearing next week about the spectacular collapse of MF Global.

The Senate passed a bill Thursday to explicitly ban insider trading by members of Congress and the executive branch, and that means the Stop Trading on Congressional Knowledge Act is headed to the president's desk.

But this STOCK Act is quite a bit weaker than earlier versions.

The STOCK Act has been on a glide path ever since an explosive 60 Minutes story last fall highlighted the issue of members of Congress apparently profiting on nonpublic information.

Greg Smith is a fairly ordinary name — but it's now one that's all the talk of Wall Street after he quit his position at Goldman Sachs today in one of the most amazingly public ways:

With an essay in The New York Times that accuses Goldman Sachs of having a money-is-everything culture that is "toxic and destructive."