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  • Proposed US Treasury Authority To Purchase Troubled Assets

    Date 20/09/2008

    The Treasury Department has submitted legislation to the Congress requesting authority to purchase troubled assets from financial institutions in order to promote market stability, and help protect American families and the US economy. This program is intended to fundamentally and comprehensively address the root cause of our financial system's stresses by removing distressed assets from the financial system. When the financial system works as it should, money and capital flow to and from househ

  • Statement Of SEC Division Of Trading And Markets Regarding The Protection Of Customer Assets

    Date 20/09/2008

    The Securities and Exchange Commission's Division of Trading and Markets today issued the following statement: In recent days, Securities and Exchange Commission staff have received a number of questions from investors regarding the protection of their assets held by broker-dealers. Customers of U.S. registered broker-dealers benefit from the extensive protections provided by the Commission rules, including the Customer Protection Rule, as well as p

  • SEC Acts To Support Swift Court Approval Of Barclays Acquisition Of Lehman Brothers, Inc. - Decision Assures Quick And Orderly Transfer Of Customer Accounts

    Date 20/09/2008

    Securities and Exchange Commission Chairman Christopher Cox announced that U.S. Bankruptcy Court Judge James M. Peck this morning approved the sale of substantially all of the assets of Lehman Brothers, Inc., to Barclays Capital. The court’s approval, just days after Lehman’s parent company filed for bankruptcy, brings immediate and significant benefits to Lehman’s brokerage customers and the capital markets.

  • SIFMA Welcomes Sec. Paulson’s Comprehensive Proposal To Relieve Stress On The Financial Markets & Restore Investor Confidence

    Date 19/09/2008

    T. Timothy Ryan, Jr., president & CEO of the Securities Industry and Financial Markets Association (SIFMA), commented on today’s announcement of a new Treasury comprehensive approach to address current market conditions:“To date, Secretary Paulson and Chairman Bernanke have made some incredibly smart and tough decisions, but it is becoming clear that our markets need a comprehensive approach to address the current conditions. Today Secretary Paulson laid out such an approach and it

  • CalPERS Taps Cooperative Personnel Services For CEO Recruitment

    Date 19/09/2008

    The Board of Administration of the California Public Employees’ Retirement System (CalPERS) has chosen Cooperative Personnel Services (CPS) to help recruit a new Chief Executive Officer (CEO) for the $220 billion pension fund.