Operating a business on Main Street is a lot different than lecturing at the Harvard Economic Club. The team Obama surrounded himself with has spent way more time in a faculty lounge than in the corner barber shop.
It's truly touching that Goldman Sachs' CEO Lloyd Blankfein, who recently said that his too-big-to-fail, Fed-backed holding company is doing "God's wo...
Did Goldman and the other banks know for certain that the bankruptcy of AIG was no longer a risk for them? That the Fed and Treasury were now irrevocably committed to saving AIG?
At the end of the day, don't succumb to populist panic. Capitalism works and is on its way to a recovery if we just sit back and let it happen.
Had Senate Banking Committee's Chairman Chris Dodd's proposal been effective before the crisis, where would we be today?
If you're quivering with rage just thinking about Wall Street, it's time to take action. I've discovered a way to achieve a semblance of inner peace without therapists, tranquilizers or weapons.
Our leaders evidently never saw a war to which the word "more" didn't apply. Hence the Afghan War, where impending disaster is just an invitation to fuel the flames of an already roaring fire.
If anyone has ever dreamed of being an office holder, 2010 is the year to do it. There are going to be several situations where voters elect a complete unknown, just to express their anger about the incumbent.
Arianna recently appeared on BBC's Newsnight to discuss the economic crisis, the lack of reform, and the effects of the bailout on American society an...
The Times shows its agenda when it refers to the not-yet-existing AIG bonuses slashes as "the humbling downfall of the once-proud giants" while all those pesky citizens won't stop with the "populist animosity."
With all the interest in the damage Wall Street has done, activity that's the opposite should draw some attention. But coverage of the corporate social responsibility movement is not yet an idea whose time has come.
Now that Goldman Sachs is a regular commercial bank, it actually trades more. This makes sense: if the US Treasury covered my losses, I would also be happy to take major risks.
Hundreds of years ago the Incas would sacrifice virgins to appease their Volcano God. The Gods (the banks) and the methods (bailouts) may have changed, but the tradition remains.
A Vanity Fair piece chronicles in a very personal way what happened with the key players as the markets were melting last fall.
Today, the New York Times announced the 100th small bank failure of 2009. Don't expect any mourning. The bank isn't named "JPMorgan Chase."
Dead Peasant Policies are life insurance policies a company takes out on its employees in order to collect the payoff if and when the employee dies... The concept of peasants isn't foreign or new to me...
How can the Treasury, White House, and Congress be so tone deaf to calls to stop the massive give-away to the same people who got us into this mess?
Maybe Michael Moore's anti-capitalist screed is actually an interesting nexus where right and left converge in hatred of the system that rewards failure and lets the bad guys run the next iteration of the machine.
What, I ask, would have happened if Paulson had simply stepped aside and let Bear Stearns collapse into bankruptcy back in March 2008?
A president has only so much capital to expend, both in tax dollars and public tolerance, and Barack Obama is dangerously overdrawn.
The calculation made by Bernanke and Paulson that Lehman Brothers was expendable, especially in light of the measures taken to save AIG, Merrill Lynch and Bear Stearns, not to mention Fannie Mae and Freddie Mac, was destined to be proved fatally flawed.
