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John Thain

Lehman Brothers' Warnings Were Ignored, Confidential Memo Shows | Bob Ivry, Christine Harper and Mark Pittman | Posted 05.25.2011 | Business

Sept. 8 (Bloomberg) -- The warning was ominous: "Massive global wealth destruction." That's what Lehman Brothers Holdings Inc. executives predicted...

The Fall of the Flimflam: What Every Executive Can Learn from BofA's Sleight of Hand

Jonathan Littman | Posted 05.25.2011 | Business
Jonathan Littman

Judge Jed S. Rakoff of New York is my idea of a true American hero. This week he had the guts to ridicule the sham $33 million settlement put forth by the SEC and Bank of America execs.

Hank Paulson Rewrites History Before Congress

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

The fallout of Paulson's two disastrous decisions (to let Lehman fail and reverse his position on foreclosure relief) prompted the former Treasury Secretary to abuse his powers, with some not-so-veiled threats.

Bernie Madoff, Scapegoat

Michael Moore | Posted 05.25.2011 | Business
Michael Moore

Instead of putting those responsible for the financial crisis in jail, why did we give them huge sums of our hard-earned tax dollars. Bernard Madoff is nothing more than the scab on the wound.

John Thain Versus Bank Of America: Former Merrill Lynch CEO Fights Back

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

John Thain has given a series of interviews to the Wall Street Journal, where the former Merrill Lynch CEO tells his side of the bonus story that led ...

Possible Jail For Financial Execs

Portfolio | Posted 05.25.2011 | Business

We asked a group of eight former prosecutors and other legal experts (some of whom asked to remain anonymous) about which of the meltdown's disgraced ...

Hank Paulson, The Unnamed "Decider" In The Merrill Lynch Saga

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Why would Merrill's senior management, with BofA's acknowledgment, base their internal year-end projections on the assumption that securities prices would recover so sharply?

Who Are the Best and the Brightest?

B. Jeffrey Madoff | Posted 05.25.2011 | Business
B. Jeffrey Madoff

If these people were "the best and the brightest," why did the financial crisis happen?

Powerball Jack and the Wall Street Bailout

Don McNay | Posted 05.25.2011 | Business
Don McNay

If the people on Wall Street knew that no one would ever be there to bail them out, ever again, they would be less inclined to gamble with instruments they don't really understand.

5 Reasons Celebrity CEOs Crash And Burn

Daily Beast | Judy Smith | Posted 05.25.2011 | Business

Now that Bernie Madoff will be trading in his jet-setting lifestyle for a more humble existence (with a big, mean, short tempered cellmate), I'm remin...

Help Dig Up The Praise That Today's Bailout Bandits Once Received

Matthew Palevsky | Posted 05.25.2011 | Business

Over the past few months we've seen the media begin to cast a hairy eye on many of the financial characters it once dubbed as experts, creators of gre...

Merrill Lynch Gave Top Earners $209 Million In 2008 (SLIDESHOW)

Huffington Post | Katharine Zaleski | Posted 05.25.2011 | Business

UPDATE: Some of the top earners at Merrill Lynch who were given $209 million in 2008 were subpoenaed by New York State Attorney General Andrew Cuomo o...

Merrill's Top 10 Earners Made $209 Million In 2008

Reuters | Posted 05.25.2011 | Business

Merrill Lynch & Co's 10 highest-paid employees got a total of $209 million in cash and stock in 2008, up slightly from $201 million they received a ye...

Thain Tells All On Merrill Lynch Bonuses

ABC News | Posted 05.25.2011 | Business

John Thain, former CEO of Merrill Lynch, finally revealed the names of the executives who received multi-million dollar bonuses on the eve of his fail...

Paulson Policy Failures

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies.

"Bankers Behaving Badly": A Needed Remedy for a Financial Industry Gone Off The Rails

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

A company's public conduct and public image, like that of Citi and Lehman, should be a determinant of which companies get taxpayer monies. The days of Wall Street rules are at an end.

Welcome to our ENRON-omy and the Year of the Probe

Robyn O'Brien | Posted 05.25.2011 | Business
Robyn O'Brien

While we read about Blagojevich's hairbrush and the $1,400 trashcan purchased by Merrill Lynch's CEO, the Dow saw "its worst performance ever" posting its worst January in its 113 year history.

The Evil of Banality

Joseph A. Palermo | Posted 05.25.2011 | Politics
Joseph A. Palermo

It could be that our institutions are so corrupt, our political discourse so banal and polluted, that they are incapable of lifting us up from our national malaise.

Sam Stein

BLOW THE WHISTLE: Bailed Out Firms Wasting Money? Tell Us About It | Sam Stein | Posted 05.25.2011 | Politics

Ever since the government decided to spend hundreds of billions of dollars propping up troubled banks, there have been reports of those banks and exec...

Rewarding Failure

Joe Peyronnin | Posted 05.25.2011 | Business
Joe Peyronnin

Memo to Wall Street: the old way of doing business is over if a company is on life support and needs a huge transfusion of federal taxpayer money to bail it out.

Wall Street, Somalia, and Jack Sparrow

John Feffer | Posted 05.25.2011 | World
John Feffer

Why are more than a dozen of the world's navies converging on Somalia to battle pirates there instead of sailing into New York to capture the Wall Street pirates?

God Damn Wall Street!

Paul Brandeis Raushenbush | Posted 05.25.2011 | Business
Paul Brandeis Raushenbush

Ok, I had to get a little Jeremiah Wright off my chest because the disgusting behavior of Wall Street while our economy crumbles has made it tough to maintain equanimity.

Congressional Black Caucus Lobbies Obama For Black Commerce Secretary

The Hill | Posted 05.25.2011 | Politics

The Congressional Black Caucus is lobbying President Barack Obama to pick African-American technology executive John Thompson to be his commerce secre...

Shameful Bankers: Time for a Revolution

Paul Jenkins | Posted 05.25.2011 | Business
Paul Jenkins

While there are many victims in the colossal Ponzi scheme that is the American economy, few of these victims have not in some way been complicit.

NY Attorney General May Demand Return Of $4B In Merrill Bonuses

Huffington Post/Bloomberg | Nicholas Sabloff | Posted 05.25.2011 | Business

On Thursday Barack Obama slammed Wall Street companies for giving out $18.4 billion in bonuses last year at a time when the financial sector was being...