If you have something to say...
Say it on the Huffington Post
If you have something to say...
Say it on the Huffington Post
The Blog
Three years later, after President Obama placed his faith in workers, the nation's economic outlook is brighter. As is that of GM and Chrysler. President Obama wagered on American workers. And it paid off.
The following conversation did not take place... but wouldn't it have been interesting if it did? Geithner: Glad I found you. We really need to talk...
A week or so ago, we read about what in the Gilded Age of the Roman Empire was known as a bacchanal -- a big blowout at which the imperial swells got together and whooped it up. This one occurred here in Manhattan at the annual black-tie dinner and induction ceremony for Kappa Beta Phi.
I spoke to Yalman Onaran about his insightful Zombie Banks. Everyone is afraid that the world economy is about to go into a second recession, I asked him. Why are we heading in that direction?
Regardless of what tax bracket we are in, I think we can all agree that it is morally reprehensible that the current financial system is structured to allow easy purchase of, and control over, our elected officials.
Wall Street's foul mood is all about money: Three years after the collapse of Bear Stearns and Lehman, and the taxpayer-financed bailouts of Citigroup, Bank of America, Morgan Stanley, Goldman Sachs and JP Morgan, it isn't allowed to return to old ways of making money.
Would a Perry presidency be tempted to follow in this predecessor's footsteps? Given the incestuous interrelationship between Texas politics and oil, in many ways the Bush presidency becomes a cautionary tale.
Too Big To Fail isn't the story of how the Three Musketeers (Paulson, Bernanke, and Geithner) saved the global economy. It's a story of how the three didn't see the financial crisis coming.
When it comes to bonds, the client is conveniently never shown how to settle based on prices. Instead they are taught a nonsensical and more complicated method called yield settlement.
Federal prosecutors have trotted out reasons why they aren't prosecuting mortgage banksters. No lawyer I've spoken to agrees. Nor do I. This is an analysis of why the criminal cases can be made.
While the Wall Street economy is booming, the real economy is in a dead stall. Only 36,000 jobs were created in January 2011. A roundup of recent headlines shines a light on how big banks like JPMorgan Chase make their big bucks.
I'd just turned 20 when I began a three-year stint on Citigroup's corporate-derivatives team. I had no work experience to speak of. As my boss said after my interview, I was "f***ing unpolished."
The media has always loved Jamie Dimon, but these days, of course, loving a banker is no easy task.
We may never know for certain whether former Prime Minister Gordon Brown was the great and magnanimous hero of Stiglitz's telling or a figure brought low by forces he failed to foresee.
This is the deep background of the financial crisis -- a clear-eyed introduction to the post-industrial jungle with its networks, frictionless interchanges, murky sense of accountability and unexpected consequences.
The shared ignorance of George W. Bush and his last treasury secretary, Henry Paulson, as they presided over the collapse of the U.S. economy is on full display in the former president's newly published memoir.
