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President Barack Obama chastised Wall Street firms on Tuesday for resisting tighter regulations of their industry and said they had not done enough to boost lending to small businesses.

One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street.

Stocks retreated as investors cashed in on their profits a day after Wall Street rallied on new details regarding Washington’s bank-rescue plans.

The Obama administration, after months of criticizing Wall Street, has been scrambling to woo top bankers and financiers to back its latest bailout plan.

Linux and open source software are a key component in the underlying infrastructure of the finance industry, but the higher layers of the stack are still dominated by a multitude of proprietary, in-house solutions. A software startup called Marketcetera aims to change that with a new, open source platform for building automated trading systems.