Breaking Up the Big Banks, and Why Congress Won't Do It
Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.
Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.
Whatever Obama decides to do in Afghanistan is of little consequence compared to Wall Street's ongoing "plutonomy."
The real issue for regulators around the globe is a serious definition of the financial world we want to live in. The current focus nearly exclusively on the banking sector could cause authorities to miss the broader picture.
Wealthy investors can be enticed to buy "alternative investments" like hedge funds and private equity deals. How is that working for them? Not well.
Taibbi, Rolling Stone magazine's teen heartthrob, became a sensation last month after calling Goldman Sachs "a giant vampire squid wrapped around the face of humanity."
The incentives to make big bets and take big risks has survived, but without the accountability. Today, the US Treasury and the Fed are trying to hold the pieces together. But why?
These bailouts, designed to prop up the financial institutions that caused this mess are a fool's hope.
People are speculating on derivatives and derivatives of derivatives because there's no action in the real world.
This ideology didn't just happen. It was four decades in the making. Sachs and Stanley refined it; private equity and financial engineers distilled it; Merril, Stearns and Joe the Plumber got drunk on it.
We must take action to stop the greed and corruption on Wall Street.
Washington seems tethered at the hip to Wall Street and continues to do its bidding. Obama wants to give us confidence, but the most trenchant critics believe a total collapse is in the offing.
With the demolition of Wall Street firms, something important is disappearing too: their share price data from the stock exchanges.
Scarsdale has always traded on its education system -- and hence, its values. Then what of the upsurge in thievery, crimes that make Teri Hatcher and co.'s seem petty by comparison?
Human nature leads us to turn towards expert-dependent disciplines to save us from ourselves but to what extent are experts -- and our own competence -- the frenemy in our midst?
by Zach Carter, TMC MediaWire Blogger Some of the largest U.S. banks may be on the ropes these days, but the disparity between the plight of financ...
KPMG is being sued for $1bn by the liquidators of New Century, the collapsed subprime lender, in the first big case against an auditor arising from th...
We don't need flash, flag-throwing or yelling at the camera. We just need honest, factual stories. And we need reporters who can give us those stories in a responsible and trustworthy manner.
People in the EU have politicized economic issues perhaps because of a more diverse media environment as well as the expectation that governments have a duty to protect their people.
"Our recovery may take years," the economist concluded over our last cup of coffee, "But smart people who work hard will always find a place." Talent will as always, he believes, find a home.
When I was at Harvard Business School, we inherited a joke that has passed from class to class. It goes something like this: the whole HBS education ...
2008 offered quite the election, with both parties fighting to set our nation's direction. It took forever for Hillary Clinton's concession, and Reverend Wright was not a good connection.