The Export-Import Bank died when its charter expired at the end of June. After 81 years, what is commonly known as Boeing's Bank headed toward Washington's trash bin.
Adults matter to children. Whether it is the earth, the seas, or the air we breathe, we cannot destroy our planet's assets and hope to survive, let alone prosper. These young at risk are also our "assets," whose untapped potential is being wasted.
They were summoned and most did come, traipsing over to the 51st floor of the Bank of America Tower in lower Manhattan. Others in distant climes signed on to a secure conference line.
It's not just politicians: Wealthy and powerful financiers regularly show a level of hubris that makes the pols look modest. They say a lot of ridiculous things on a regular basis, but my colleague Lauren Windsor broke a story this week that shows one of these masters of the universe, JPMorgan Chase CEO Jamie Dimon, at his arrogant worst.
The finance industry, already enormous by percentage of the economy and corporate profits, and presumably individual banks like JPMorgan, will be getting even bigger if Dimon is right, which begs the question: Is JPMorgan too big to fail?
James B. Lee. Jimmy Lee. Jimmy. If you could see what all of us here can see in this sacred place -- the sea of people here to pay their respects from all walks of your life. More importantly, if you could feel the outpouring of deep love that you always cherished, you would be the happiest person on earth.
Smokers selfishly pursued their own pleasure without facing up to the harm they were visiting on others. The rules offering a no-smoking section resemble the ineffective capital requirements that the industry lobbyists persuade regulators to adopt.
The trial of Abacus Federal Savings Bank is finally over, and the verdict is "not guilty" on all counts. This outcome should be a tremendous relief to advocates of Wall Street accountability, and the fact that the case got as far as it did should be an extraordinary embarrassment to District Attorney Cyrus Vance and his office.
As the U.S. Supreme Court has explained, corporations are persons just like my readers. The only difference between a corporate person and a human person is that when a human person breaks the law, the human person depending on the offense, may go to jail.
It used to be that bad guys, called bank robbers, robbed banks. Now the banks are robbing us. Authorities just fined five of the world's largest global banks $5.7 billion for rigging benchmark interest rates. This brings the tally of fines assessed seven top banks in Europe and the US to roughly $10 billion.
The promise of America is that anyone who works hard and plays by the rules can earn a middle-class life. That promise is betrayed when the system provides a tiny class of Americans with special treatment, including a get-out-of-jail-free card when they commit fraud to make untold millions.
Topline numbers on market size and growth always steal the show when JP Morgan and the GIIN release findings from their annual survey of impact investors.
The past, especially the political past, doesn't just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward.
(John O'Connor [left] at a ceremony conducted at the Army Navy Country Club in Arlington, Virginia.) Most of us have a story about 9/11 and John O'...
In Monopoly the game, you buy properties, pay fines, and try to stay out of jail. In monopoly, the real-life big business version, you use all your leverage to dominate markets, manipulate industries, avoid fines, and hire lawyers to keep you out of jail. And most of the time you do win.
When the US Justice Department announced last August that it was levying a $17 billion penalty against Bank of America for its role in bringing on the mid-2000s housing crisis, pundits said the sheer size of the fine would make all banks take notice.