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Dodd Unveils a Massive Financial System Overhaul

The Connecticut Democrat's "Restoring American Financial Stability Act" is the most sweeping redo of financial regulations since the Depression. Among its many changes, it would establish a Consumer Financial Protection Bureau and prevent institutions from becoming "too big to fail."

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Market Update
  • Stocks end mixed ahead of Fed's rate meeting
  • The information superhighway may finally move a little faster. The feds outlined plans to deliver high-speed broadband service of up to 100 megabits per second to 100 million American households by the year 2020. But cable providers and TV broadcasters may not want the competition of a free service.

    Facebook overtook Google to become the most popular website in the United States for the first time, according to new weekly data from Hitwise. The new data is sure to unnerve Google, which has been trying to crack into the social networking market -- with controversial results.

    On Monday, AT&T; unveiled a lineup of four Quick Messaging Devices designed to bring smart phone-like features to low-cost handsets. The new services will include group messaging, photo and video transfers, and contacts management.

    Sure, Lehman's accounting gimmicks played a role in its downfall, but the star of the show was a business strategy the left prudence behind in an all-out pursuit of risk and reward. Too bad risk won out.

    On CBS's Undercover Boss, Churchill Downs COO Bill Carstanjen learns about the horse side of the horse business. Too bad he doesn't have any horse sense as a corporate manager.

    More than 13,000 people come to South by Southwest Interactive in Austin to launch new products, play, learn -- and party. It's become one of the hottest tech shows in the country for creative types to network with geeks.

    Pop-rock band OK Go is still best known for its 2006 video "Here It Goes Again," also known as "the treadmill video." Last year, when it was looking for funding to produce its stunning new video, State Farm Insurance was looking for artists to support. Here's how the unlikely marriage was born.

    The unexpected -- and much needed -- solidarity in response to the financial meltdown is now quickly fading as healing proceeds. Mutual accusations of protectionism, for example, are becoming common again. Chinese Premier Wen Jiabao, for one, is cranking up the rhetoric.

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