On a panel at an ideas conference in New York City, Rattner noted that before the financial crisis began in 2008, Wall Street was the "global leader in finance. ... But of course, it got out of control."
Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.
This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.
Tax Day 2012 is looming — and after we file our returns, many of us will try to figure out what to do with the seemingly innocuous but possibly crucial documents we use to prepare our returns. Filing electronically can make those records easier to manage. But what should we really keep, and for how long?
Most experts recommend holding on to financial records for three years after they're used in a tax return — that's the amount of time the IRS has to audit taxpayers.
A former executive at the center of the meltdown of brokerage firm MF Global appeared before Congress on Wednesday to answer questions from lawmakers. Members of the House Financial Services Committee were hoping assistant treasurer Edith O'Brien would explain the actions of the firm's CEO, ex-New Jersey Gov. Jon Corzine.