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Goldman Sachs CEO, Lloyd Blankfein, and six other executives will not be receiving stock or cash bonuses this year.
Surprisingly enough, the decision was made by the seven executives themselves because they feel like it was the right thing to do.
This is the most responsible …

The U.S. Federal Reserve said American Express could become a bank holding company. Like Morgan Stanley and Goldman Sachs before, now American Express may issue government guaranteed bonds through June 2012.
The companies can also apply to receive aid from the $700 billion bailout rescue package …

One day after the UK Financial Services Authority pulled a similar stunt, the SEC temporarily banned the short selling of almost 800 financial stocks. According to the ban, on October 3rd short selling can resume.
With the news on Friday, financial stocks rallied.
Here’s the list …

Even after the S&P lowered the savings-and-loan credit rating today Washington Mutual’s shares rose 16% higher than opening. WaMu was one of the largest profiteers from the housing boom and is now in trouble with the largest mortgage lenders going belly-up. There are even …