Recovery Expected in 2009 but Unemployment to Lag

The U.S. economy will begin to recover by the end of the year but unemployment is another matter, fund managers speaking at the Morningstar conference said.

Morgan Stanley and Citi Close Groundbreaking Deal Early

Morgan Stanley and Citigroup announced the closing of their joint venture today, earlier than the original target of a third-quarter closing.

LOOKING AHEAD: Investing Ideas and Analysis for the Week of June 1, 2009

As the market soars, the bears stick to their position. Joining this week’s fray: TrimTabs’ Charles Biderman, JPMorgan’s David Kelly, Clearbrook’s Tom Sowanick, BlackRock’s Bob Doll and Curtis Arledge, GMO’s Jeremy Grantham. Plus: the week’s most important reports

Bank of America Board Shaken Further

Former BofA lead director O. Temple Stone, Jr. leaves the board one month after being passed over to succeed Lewis as chairman.

Industry Opposes Mandatory Index Funds in 401(k) Plans

While index funds already have a place in the lineup of most 401(k) plans, a proposed federal mandate to require at least one index fund option in these plans is being called intrusive and unnecessary.

PIMCO Jumps into ETF Business

Bond giant Pacific Investment Management Co. is preparing to launch its first exchange-traded fund, according to government filings.

SEC Charges 10 Brokers with Carrying Out CMO Fraud

The Securities and Exchange Commission charged 10 financial advisors today with fraud for falsely marketing risky collateralized mortgage obligations to retirees.