As much as anything, what killed Lehman was Dick Fuld's emasculation of the risk management function, which served as a moral compass.
I worked at Bear Stearns in the late 1980s and remembered amiable newcomer Ralph Cioffi -- just acquitted -- to be Bear Stearns' most talented and successful salesman of mortgage-backed securities.
Our Chairman, Who Art At Goldman, Blankfein Be Thy Name.
The only thing worse than Goldman Sachs amassing billions in bonus money for its executives, based on various government subsidies and bailout measures, is listening to it try to explain it all away.
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.