Editor's note: the following blog post is satire. Reuterz, New York - In swift reaction to recent calls for his resignation, Lloyd Blankfein, Chairma...
Paulson made his bets in late 2006 just as the sub-prime mortgage markets were starting to weaken. His timing was impeccable, as was his luck.
The public health burden of insomnia on the US is measured in the hundreds of billions of dollars. While we routinely cut calories, or cram in exercise, sleep has not even entered the conversational lexicon.
In a rare glimpse behind the closed-doors of The Federal Reserve, Chairman Ben Bernanke released a snapshot of the economy they have been looking at for months.
Our Chairman, Who Art At Goldman, Blankfein Be Thy Name.
How would you feel if you discovered that a highly-rated bond received its grade not because the company is strong, but because the rating agency assumed the government would bail the company out?
In mere days, my city, Chicago will be overrun by the worst of the worst. The lowest of the low. Criminals who have affected more lives than any mug...
In New York, the oldest and snobbiest financial ventures are called "white shoe" firms. Their arrogance, risky investments and confounding dealing in derivatives threw the rest of us into the Great Recession.
Goldman was not assisted by the government to become a voracious and even heftier investment bank. Rather, one can presume that the government's assistance was to prevent systemic failure.
These 21st century banks have become deadly, systemically risky dominoes that can crush us all if they fail, or can bankrupt us all with debt if we have to bail them out.
One would hope Congress would have approached Wall Street reform with the same gusto they have brought to debating a public option in health care. It's time to tackle the thorny issues that brought us to this point.
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.
New York Times' reporter Andrew Ross Sorkin's excerpt microscopically examines the actions of some key regulatory and Wall Street players, in this case during the period immediately after Lehman failed.
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?
This has been a very rough year for Iceland, and it's not likely to get better anytime soon. The public's anger continues to grow, and it would not be surprising if this winter sees a repeat of last winter's uprising.
The very same industry that has taken billions of dollars in bailout money from the federal government is not ready to loosen its grip on the cash cow that is the private student loan industry.