Lawmakers Wrangle Over SEC Funding
Regulating Wall Street could be a tough job for the regulators. Congressional Republicans are fighting Democratic attempts to boost funding for the Securities and Exchange Commission. Democrats said the money is needed because of increased responsibilities under the financial law passed last summer. But Republicans said the budget crunch means now is not the time to spend more on SEC monitoring and enforcement.
How to Avoid a 'Flash Crash'
A panel investigating the stock market “flash crash” of last May unveiled 14 recommendations to prevent a similar stock market crash. The proposals include curbs and fees on certain types of computerized trading referred to as high-frequency trading, as well as ending anonymous stock trading.
Markets
Stocks rose Friday. The Dow added 73 points, to close at 12,391. The index soared 300 points since Monday's opening bell. The Nasdaq gained just two points, closing at 2,834. The S&P 500 rose three points, ending the day at 1,343.
Reviewing This Week's Business and Economic News
This week, President Barack Obama and Mayor Michael Bloomberg unveiled budgets for 2012. Designers introduced their fall fashions. And dog lovers found a way to make a buck at the Westminster Kennel Club dog show.
Aaron Rutkoff, editor of the Wall Street Journal's Metropolis blog, reviews this week's business and economic news.