Heads Up | Bernanke pitch; SEC investigates run-up to crisis; GM has chance to turn profit
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Bernanke pitch

Federal Reserve Chairman Ben Bernanke on Wednesday urged Congress to let the Fed keep all of its banking oversight, arguing that information gleaned from that process helps the central bank guide the economy. Bernanke said its banking duties also gave the Fed insights into the health of the banking system. Testifying at a House hearing, Bernanke waged a fresh battle against Senate efforts to scale back the Fed’s role in overseeing U.S. banks.

Checking up

The head of the Securities and Exchange Commission, Mary Schapiro, confirmed Wednesday that her agency was investigating several companies’ actions in the run-up to the financial crisis of 2008. Schapiro told the House Appropriations subcommittee, weighing the agency’s request for a 12 percent budget increase, that “it would be safe to assume” that the agency was looking very closely at several companies, but she did not name any.

A shot at profit

If the economy cooperates and auto sales recover a bit, General Motors has a reasonable chance of turning a full-year profit in 2010, its new chief financial officer said Wednesday. Chris Liddell, at his first meeting with reporters in Detroit, said the automaker was making money in Brazil and China but struggling in Europe. A full-year profit for GM, which left bankruptcy protection in July, would be the company’s first when it made $2.7 billion. It has posted more than $88 billion in losses since then.

Legal acquisition

The law firm Polsinelli Shughart PC will acquire Jefferson City-based Hendren Andrae LLC, effective April 1. Hendren Andrae specializes in public policy, government relations, regulatory law, and business litigation.


| The Associated Press | The Star 


   Source: http://www.kansascity.com    Author: kansascity