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.
Class action lawyers have an incentive to win and to keep a case moving forward, but traditional law firms have done some first class work, too. Likewise, some class action law firms have mismanaged cases and floundered their way to a loss for their client.
The United States is trying to pull out of the greatest financial tailspins in its history. Dice-rolling braggadacio by a key officer at one of the nation's largest banks is exactly the kind of thing Congress, taxpayers and voters should find scary.
The disputes over credit default swaps on Greece highlight the fact that most participants in the credit derivatives market are at the mercy of ISDA when it comes to interpretation of ISDA's language. The only solution to that is to exercise one's rights.
Ratings downgrades will trigger increased margin calls. This is all business as (un)usual. What isn't usual is diverting money from segregated customer accounts. It's too late to blame "sloppiness, bookkeeping, or accounting."
If anyone thinks that the Commodity Futures Trading Commission (CFTC) has the right stuff to regulate the commodities markets, look no further than its failure to check manipulation in the silver market.
The European Union is shocked -- shocked I tell you! -- that Greece used financial engineering to qualify for admission. Exactly how did they think that weaker countries managed to meet the requirements?