Corporatism
Manuel Balce Ceneta/Associated Press Senator Charles E. Schumer, Democrat of New York. 3:11 p.m. | Updated Wall Street often tries to play down its influence in Washington. As Congress pushed through financial regulations that seemed to get watered down last year, Wall Street’s chief executives tried to suggest, somewhat surprisingly, that their highly paid lobbyists did not have much sway.
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Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.
SANTA ANA, Calif. (AP) -- The first salvo was fired years ago when toy giant Mattel Inc. sued MGA Entertainment Inc. over ownership of the hugely popular Bratz fashion doll line. The turbulent legal chapter has now ended with a federal judge ordering Mattel to pay its rival more than $309 million.Mattel said it was disappointed with the decision Thursday and was evaluating its next steps. The El Segundo-based toy maker can appeal.U.S.