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WaMu executives testify before Senate, defend their job performance

Top officials say Washington Mutual was largely the victim of the housing downturn. But two former WaMu risk officers tell a Senate panel the failed savings and loan took too many chances.

Obama reasserts Volcker rule, Senate bill seen

The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that Congress is unlikely to adopt such a rule.

Financial industry's anxiety is rising over Obama's plan

The president's proposal, which includes curtailing high-risk securities trading by commercial banks, would curb practices that at some firms account for 25% of earnings.

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