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Collateralized Debt Obligations

The Big Short

Francis Levy | Posted 12.30.2016 | Entertainment
Francis Levy

In his early writings Marx talked alienation caused by the division of labor. If nothing else The Big Short takes this to its logical conclusion in dramatizing an unregulated financial system that has little if nothing to do with the lives of those who actually have to work for a living.

Review: Janet Tavakoli's Decisions: Life and Death on Wall Street

Nomi Prins | Posted 06.28.2015 | Business
Nomi Prins

Janet Tavakoli is a born storyteller with an incredible tale to tell. In her captivating memoir, Decisions: Life and Death on Wall Street, she takes us on a brisk journey from the depravity of 1980s Wall Street to the ramifications of the systemic recklessness that crushed the global economy.

Zach Carter

Happy New Year, Wall Street: Congress Has Another Gift For You | Zach Carter | Posted 01.07.2015 | Politics

WASHINGTON -- After stuffing Wall Street's stockings in December with subsidies for risky trading, the House of Representatives plans to wish big bank...

Blankfein Reveals Big Regret

Reuters | Posted 01.23.2014 | Business

By Lauren Tara LaCapra NEW YORK, Nov 12 (Reuters) - Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Tuesday that he r...

Mark Gongloff

Weapons Of Mass Destruction Return To Wall Street | Mark Gongloff | Posted 03.21.2013 | Business

Japan swore off nuclear weapons for generations after the bombings of Hiroshima and Nagasaki. Wall Street's memory vis-a-vis weapons of mass destructi...

Abacus and Other Soured Deals as Now Seen by the New York Times

Raymond J. Learsy | Posted 01.23.2014 | Business
Raymond J. Learsy

The Business editors of the New York Times seem forever determined to whitewash and sanitize one of the core causes of the 2008 financial debacle and those who were central to the melt down.

TAR(P) Baby

Glenn C. Altschuler | Posted 09.29.2012 | Books
Glenn C. Altschuler

Barofsky's experiences should serve a cautionary tale -- and a wake-up call. Power can -- and does -- corrupt. Our revolving door, campaign contribution driven political system has lost touch with the "ordinary" citizens it is supposed to serve

Economic Ambiguity

Michael Farr | Posted 07.03.2012 | Business
Michael Farr

We continue to believe that investors are underestimating the risks inherent to the bond market at this stage in the game. Bond investors are not being compensated for the risks they are assuming when they are not even able to earn the expected rate of inflation.

D.M. Levine

An FDA for Wall Street's Risky Business | D.M. Levine | Posted 02.14.2012 | Business

Are exotic financial derivatives as risky as untested prescription drugs? Two University of Chicago economists say possibly. As noted by economist Ste...

Major Bank Faces Big Lawsuit Over Fraud

Reuters | Posted 03.26.2012 | Business

* Sued over collateralized debt obligations bought in 2006, 07' * Citigroup says suit without merit (Adds Citigroup comment) ...

Alexander Eichler

Report Highlights Legality Of Lehman Brothers 'Gut Feeling' Business | Alexander Eichler | Posted 12.09.2011 | Business

In the years leading up to its collapse, Lehman Brothers nearly doubled its risk and took a scattershot approach to valuing its assets, according to a...

Is Wall Street the Enemy of the People?

Monika Mitchell | Posted 12.17.2011 | Business
Monika Mitchell

There is something new going on in this millennium, something really exciting. A shift in the way we think from an exclusive sense of "what's in it for me?" to an inclusive sense of "what kind of world are we co-creating?"

William Alden

Senator Welcomes News Of Apparent Standard & Poor's Investigation | William Alden | Posted 10.18.2011 | Business

NEW YORK -- As the financial world absorbs news that the federal government is apparently investigating potential misbehavior at Standard & Poor's, th...

William Alden

SEC Late To The Game In Wisconsin Fraud Suit | William Alden | Posted 10.11.2011 | Business

NEW YORK -- The Securities and Exchange Commission has accused a brokerage firm of duping five Wisconsin school districts into placing highly risky be...

William Alden

Sorkin, Bove Flip On Senate's Goldman Sachs Report After Meeting With Firm | William Alden | Posted 08.10.2011 | Business

NEW YORK -- Goldman Sachs is quietly pushing back against accusations that it may have broken the law, as employees of the firm have met with a pair o...

Moody's Hasn't Kept Promises To Change Its Ratings System

The New York Times | JESSE EISINGER | Posted 06.13.2011 | Business

In the aftermath of the financial crisis, nobody has gone to prison and there haven't been any serious structural changes in the financial system. But...

Shahien Nasiripour

SEC Under Criticism Yet Again For 'Light' Penalty Against Big Bank | Shahien Nasiripour | Posted 06.07.2011 | Business

The nation's fourth-largest bank agreed to pay an $11 million fine this week to settle federal charges that it misled investors by hiding critical fac...

Banks Still Holding On To "Toxic" Assets

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

Despite healthy earnings reports, banks still hold the many of the same so-called "toxic" assets that sparked worry during the financial crisis. Th...

Legerdemath: Tricks of the Banking Trade

Omer Rosen | Posted 05.25.2011 | Business
Omer Rosen

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."

FCIC Report Misses Central Issue: Why Was There Demand for Bad Mortgage Loans?

Thomas Adams and Yves Smith | Posted 05.25.2011 | Business
Thomas Adams and Yves Smith

It is remarkable that the FCIC, with its access to industry figures and its subpoena powers, was unable to refine this sort of analysis together to give a clear picture of what was actually happening in the CDO market.

CHART: How Banks Bought Their Own Mortgage Securities During The Boom

Posted 05.25.2011 | Business

If you're in the market for a detailed, if byzantine, explanation of how banks ended up repackaging and buying their own own securities during the hou...

Can Goldilocks Stop This Runaway Train?

Asher Miller | Posted 05.25.2011 | Green
Asher Miller

There's a lot to digest in Michael Lewis' The Big Short: Inside the Doomsday Machine but I was particularly struck by a passage at the very end of the...

New York Times Muffs Merrill/Magnetar Piece (Corrected and Updated)

Thomas Adams and Yves Smith | Posted 05.25.2011 | Business
Thomas Adams and Yves Smith

Louise Story has penned what presents itself as an important story at the New York Times, one that charges Merrill Lynch with misrepresenting the size...

An S.E.C. Lawsuit Does Little to Strip Away the Secrecy Surrounding Certain AIG CDOs

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

A month ago, the S.E.C. alleged in a complaint that Thomas C. Priore's firm made all sorts of fraudulent transfers for the benefit of himself and ICP, at the expense of investors in the Triaxx CDOs.

The Value(s) of Wall Street

Charles Kolb | Posted 05.25.2011 | Business
Charles Kolb

The day when the Federal Reserve began to lower interest rates to address a looming economic downturn, the New York Times ran a Tiffany & Co. ad on page three. The ad featured a lovely pair of diamond teardrop earrings for $230,000.