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Wall Street Bonuses

Wall Street Wants Its Name Changed to Casino Canyon?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Under the rules governing high finance, bankers can win every time. They're essentially serving as "the house" within a vast global casino. That yields a lot more cash than moving the nation's savings into productive investments.

Goldman Sachs: Too Big For Jail?

Don McNay | Posted 05.25.2011 | Business
Don McNay

Just because the SEC filed a lawsuit, it doesn't mean they will win. Goldman Sachs could easily prevail. Before we start breaking out the champagne, let's look at what is actually going on.

Goldman Sachs Bonuses: Bank Paying Staff Over $5 Billion For Just Three Months Work

AP | GREGORY KATZ and GEIR MOULSON | Posted 05.25.2011 | Business

LONDON — Goldman Sachs is facing a potential backlash in Europe over the fraud case brought against it in the United States, with Britain's Prim...

Does Dow 11,000 Mean Total Victory for Wall Street?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Now that the Dow is shooting past 11,000, Congress has the perfect excuse to pass a pathetic set of watered down financial reforms. Arguments between Democrats and Republicans are for political show. The bankers already have won.

How Maria Bartiromo May Become the Best Teacher You've Ever Had

Michael Martin | Posted 01.20.2012 | Books
Michael Martin

A great teacher will passionately help you discover the ability you have inside yourself and help you culture that pearl, so that your feelings and intellect become your allies.

Mediocre CEOs: 9 Execs Screwed Up And Still Made Big Bucks

The Big Money | Heidi N. Moore | Posted 05.25.2011 | Business

Why aim for greatness when mediocrity pays just as well? The financial crisis has changed a lot about our economy, but one thing remains a constant: P...

Is there a Global War Between Financial Theocracy and Democracy?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

The financial reform bill is virtually designed to institutionalize "too big to fail." And when it's reconciled we'll lose another battle in the ongoing war between global financial markets and democratic nation-states.

Bank Bonuses Still Out Of Control

New York Times | Posted 05.25.2011 | Business

Federal regulators reviewing the compensation policies of major banks are finding that the industry has not adequately adjusted its pay practices to r...

Capitalism's Achilles Heel: The Cassano Loophole

Cenk Uygur | Posted 05.25.2011 | Business
Cenk Uygur

Jospeh Cassano was the head of AIG's Financial Products Unit. They are the ones that made about a trillion dollars worth of bets in credit default swaps. They lost. Except because of the Cassano loophole, they won.

Time for a New York Bonus Tax: An Open Letter to Albany

Dan Cantor | Posted 05.25.2011 | New York
Dan Cantor

Can anyone explain why the Legislature shouldn't impose a modest tax on Wall Street bonuses to recover a portion of our money in order to relieve the property tax burden?

Citigroup Eyed By Financial Crisis Commission

nytimes.com | ANDREW ROSS SORKIN | Posted 05.25.2011 | Business

But there is one small question, not so obvious, that has been crying out for an answer for years, and it has nothing to do with exoticisms like C.D.O...

Are the Unemployed Causing Unemployment?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Senator Judd Gregg thins that the way to create jobs is to get those lazy workers off the dole so that they can help lower wages across the economy. Interesting theory, but it doesn't apply to this planet.

Corporate Executive Pay Still Doesn't Follow Feinberg's Push To Limit Huge Cash Payouts

washingtonpost.com | Tomoeh Murakami Tse | Posted 05.25.2011 | Business

The Treasury Department said it is not looking to limit the total pay executives receive. Kenneth R. Feinberg, President Obama's special master for co...

It's Alive! (A Wall Street Bonus Tax, that is)

Ben Protess | Posted 05.25.2011 | Business
Ben Protess

Remember that Wall Street bonus tax that a couple Senate Democrats unsuccessfully floated this month? It's not dead yet. As we recently reported, the...

The Ten Wealthiest Financiers in America Are Not Worth $900,000 an Hour

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

The time may come when the American people demand a modicum of financial justice and economic sanity. This would require something far beyond the current financial reform, which is basically a gift to Wall Street and hedge funds.

Shadow Elite: Wall Street Culture - They Still Don't Get It (Except Their Bonuses)

Linda Keenan | Posted 05.25.2011 | Business
Linda Keenan

The bankers may like to show they prize flexibility, but try telling them they should change bonus culture. On that score, they will not bend. But they needn't worry -- the Champagne will still flow; Washington isn't going after bonuses.

Banking Bonuses Are Back And Bigger Than Ever

FinanceAsia | Posted 05.25.2011 | Business

My colleague Sam Jones wants our company to sponsor the premiere of Wall Street 2: Money Never Sleeps later this year and invite a lot of our friends ...

Slaughterhouse '10: The Gutting of State and Local Government

Les Leopold | Posted 05.25.2011 | Politics
Les Leopold

If we could just get over our blinding hatred of unions and public sector workers, we might see that we do in fact have the money we need to rebuild our infrastructure and create a new green economy.

'The Road From Ruin': Are We Naive Idiots For Thinking Business Can Be Anything But Greedy?

Matthew Bishop | Posted 05.25.2011 | Books
Matthew Bishop

We don't believe capitalism will ever be perfect, or that you can entirely drive out the dark side of human nature. But we can do a lot better than we have done so far.

Kiss Your Middle Cl..ass Good-bye?

Les Leopold | Posted 05.25.2011 | Politics
Les Leopold

The financial reform bill Congress just passed won't protect us from economic chaos. Why? Because it fails to burst the mother of all bubbles -- Wall Street itself.

Mamas, Don't Let Your Babies Grow Up To Be Banksters

Terrance Heath | Posted 05.25.2011 | Politics
Terrance Heath

It turns out, toddlers who tell lies do better as adults. Whether this is surprising news about child development, or a sad statement about the kind of society we live in depends on how you define "better."

Stop Student Loan Sharking, Make College Free

Les Leopold | Posted 05.25.2011 | College
Les Leopold

The GI Bill's free tuition program was a key factor in building our post-WWII prosperity. If we want our nation to grow smarter and stronger again, we need universal free higher education right now.

Wall Street Rewards Its Own While Main Street Pays the Tab

T.A. Taylor-Hunt | Posted 05.25.2011 | Denver
T.A. Taylor-Hunt

Wall Street firms believe nothing has changed. The terrible truth is that so far, thanks to their own continued success in lobbying for their narrow interests, they are right.

Help! What's the Cure for Financial Insanity?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

The American people sense something is really wrong. They're angry at Wall Street and anyone in its pocket. It's taken a while, but the truth is seeping in.

Michael Lewis 60 Minutes Interview: Wall Street Bonuses 'A Very Elegant Form Of Theft' (VIDEO)

Posted 05.25.2011 | Business

Michael Lewis, author of one of the defining books about Wall Street excess, "Liar's Poker," told 60 Minutes that bonuses at banks bailed out by the g...