Imagine you are Ken Lewis, who yesterday announced his decision to take early retirement from his position at Bank of America. You want to understand why Ken walked? Look at it this way...
A quick survey of market catastrophes reveals that autumn is not only when the traditional harvest comes in, but also when we reap what we have sown -- whether it's corn or bad economic policy.
Tonight, at the Venice Film Festival, I will premiere my new movie, "Capitalism: A Love Story." After 16 months of production, I am proud to present this work of mine to you. It is unlike anything you'll see this year.
It's a crime story. But it's also a war story about class warfare. And a vampire movie, with the upper 1 percent feeding off the rest of us. And, of course, it's also a love story. Only it's about an abusive relationship.
Why has it been left to one stellar judge to sound the alarm on Bank of America and Merrill Lynch, and why is Congress and the Obama administration looking the other way?
Health care reform hangs in the balance at the same time we learn that nine banks, all recipients of federal bailout support, paid an astounding $33 billion in bonuses in 2008.
We will prove that the best thing you can do for capitalism is to have rules that give investors the confidence to get back into the system, that protect the great majority of decent people from abuses.
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.
This ideology didn't just happen. It was four decades in the making. Sachs and Stanley refined it; private equity and financial engineers distilled it; Merril, Stearns and Joe the Plumber got drunk on it.
For months, Conservatives have been in search of an attack issue to rally around. They've also been desperately searching for someone credible to lead...
Even before the home bubble burst, homes cost too much for more than four out of ten Americans. About 7.5 million people were spending more than half of their income on housing costs.
In the run-up to testimony by Bank of America chief Ken Lewis on the Merrill Lynch & Co. affair, e-mails are suddenly leaking from the Beltway colander, though their ultimate source, strangely enough, is that opaque wonderland, the Federal Reserve.
With the demolition of Wall Street firms, something important is disappearing too: their share price data from the stock exchanges.
The L-shaped economy that we're in is one which won't get much better and will require an adjustment to lower economic growth and a lower standard of living.
Nearly one and half years after a Merrill Lynch employee defecated on the floor of a bathroom near a bond trading desk at the bank's headquarters in lower Manhattan, it looks like it may have happened again.
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.