December 31

Wall Street Waits as SEC Fails to Bring Madoff-Inspired Reforms (BLM)
Schapiro joined four other commissioners in approving a rule that requires about 1,600 U.S. fund managers to submit to unannounced audits, 83 percent fewer than seven months ago.

Not So Radical Reform (BW)
How New Democrats and Wall Street lobbyists are taming new financial regulation in Congress

A Different Type of Recession (Economix)
Our recession predictably continues to be one in which real gross domestic product and spending outperform the labor market.

AIG Confirms Top Lawyers’ Departures (WSJ)
AIG confirmed that its general counsel, Anastasia Kelly, and deputy general counsel Suzanne Folsom, resigned from the company as of Wednesday.

Jobless Claims at Lowest Since July 2008 (Reuters)
The number of workers filing new applications for jobless benefits fell last week to the lowest level in about 17 months, according to U.S. government data on Thursday.

U.S. Clears the Way for Tariffs on Chinese Steel (WP)
In one of the largest trade cases ever involving the two countries, the U.S. International Trade Commission says that subsidized Chinese steel harms or threatens to harm the U.S. industry.

U.N. Financial Nominee Withdraws (WP)
President Obama’s nominee Jide J. Zeitlin’s decision to withdraw his name from consideration comes amid indications that he may have understated his Indian firm’s financial and legal troubles in a congressional hearing.