Excerpted with permission of the publisher John Wiley & Sons, Inc. (www.wiley.com) from Senseless Panic by William M. Isaac with Philip C. Meyer. Copyright (c) 2010 by William M. Isaac.
Shaky German banking giant gives up another 7%.
The Securities Exchange Commission found that Merrill Lynch did not have proper trading controls in place to stop "mini-flash crashes" on particular stocks.
A proposed rule that requires more capital for the largest banks might hurt JPMorgan and Wells Fargo, but separate changes could benefit smaller banks.