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Finance

Frank Rich: White House Doesn't Seem To Understand Public's Wall Street Rage

New York Times | FRANK RICH | Posted 11.07.2009 | Politics

Read More: Larry Summers, ny23, Regulation, Obama, Teaparty, New York 23, White House, Dede Scozzafava, Finance, Gop, Paul Volcker, Wall Street, Bill Owens, New York City, Michael Bloomberg, Financial Reform, Election Day 2009, H1N1 Vaccine, Ny-23, Doug Hoffman, Democrats, 2009 Elections, Bill Thompson, Main Street, Elections, Anger, Tim Geithner, Banks, Bonuses, Too Big to Fail, Executive Pay, Republicans, Politics News

The Obama administration does not seem to understand that this rage, left unaddressed, could consume it. It has pushed aside the entreaties of many --...

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Economic Crisis Compels Economists To Reach For New Paradigm

Wall Street Journal | MARK WHITEHOUSE | Posted 11.02.2009 | Business

Read More: Economy, Policy, The Fed, Recession, Ben Bernanke, Collateral, University, Mortgage, Credit, Economic Policy, Lenders, Finance, College, Rational Expectations, Bernanke, Crisis, Economists, Banks, Academics, Theory, Colleges, Economic Theory, Universities, Business News

The pain of the financial crisis has economists striving to understand precisely why it happened and how to prevent a repeat. For that task, John Gean...

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Robert Shiller: Address Income Gap, Tie It To Tax Rate (Video)

The Huffington Post | Posted 11.02.2009 | Business

Read More: Taxes, Income Gap, Recovery, CEO Pay, Executive Pay, Shiller, Housing, Economy, Martin Wolf, Fareed Zakaria, Housing Crisis, Recession, Consumer Confidence, Mortgage, Zakaria, Bailout, Finance, Bernanke, Banks, Bubble, Robert Shiller, Housing Bubble, Business News

The US might be in the midst of a second housing and financial bubble, according to economist and Yale Professor Robert Shiller. Shiller and Financial...

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CIT Bankruptcy Filed: US Will Likely Lose $2.3 Billion, Goldman Sachs Will Gain $1 Billion

AP / Huffington Post | By STEPHEN MANNING | Posted 11.01.2009 | Business

Read More: Short-Term Finance, Retailers, Geithner, Timothy Geithner, Goldman Sachs, Lending, Retail, CIT Bailout, Tim Geithner, Carl Ichan, Bailout, Finance, Lenders, Treasury, Cit, Banks, Wall Street, Ichan, Business News

WASHINGTON -- Lender CIT Group has filed for Chapter 11 bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing...

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President Obama After One Year

Dean Baker | Posted 11.01.2009 | Politics

Read More: Health Care Reform, Financial Crisis, President Obama, Cap and Trade, Finance, Employee Free Choice Act, Progressives, Alan Greenspan, Greenhouse Gas Emissions, Barack Obama, Politics News
Dean Baker

A year after President Obama's election, progressives can say that we got pretty much what we had a right to expect: a centrist agenda in office.

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Can Citigroup Carry Its Own Weight?

New York Times | ANDREW MARTIN and GRETCHEN MORGENSON | Posted 11.01.2009 | Business

Read More: Tarp, Geithner, Hank Paulson, Fdic, Paulson, Economy, Mortgage Crisis, Vikram S. Pandit, Taxpayers, Gmac, Housing Crisis, Recession, Citi, Vikram Pandit, Mortgages, Subprime Mortgages, Wall Street, Bailout, Finance, Common Stock, Treasury, Banks, Timothy Geithner, Citigroup, Business News

OVER the past 80 years, the United States government has engineered not one, not two, not three, but at least four rescues of the institution now know...

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The Payer Mayor: Has Mike Bloomberg Bought Himself Another Term?

Nelson Montana | Posted 10.29.2009 | New York

Read More: Part Lines, Finance, Mayor, Liberals, Thompson, 9/11, Mike Bloomberg, Candidates, Community Organizing, Election, New York, New York News
Nelson Montana

Even if there wasn't one thin dime spent in advertising, in a straight up comparison, Bloomberg is clearly the better man than Thompson.

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Congress and TBTF: Bring in the Bomb Squad

Joshua Rosner | Posted 10.29.2009 | Business

Read More: Fed, Tbtf, Finance, Regulation, Treasury, Congress, Obama, Fannie and Freddie, Contingent Capital, Business News
Joshua Rosner

This bill is one more act of sleight of hand by a Congress that, to the detriment of the public, fails to see that banks are there to serve the public good and can be regulated with such a goal.

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Giving Credit Where Credit Will Do: How the Banks Have Changed the Rules Halfway Through the Game

Nelson Montana | Posted 10.29.2009 | Business

Read More: Credit Cards, Consumer Debt, Bankruptcy, Bailout, Visa, Finance, Economy, Mastercard, Banks, Interest Rates, Money, Congress, Business News
Nelson Montana

The way it stands with credit card companies these days, you might be better off dealing with loan sharks. At least they'll warn you before breaking your legs. The banks sneak up behind you and do it.

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Goldman Sachs Defends Trading Practices: Dark Pools, Flash Trading, Short Selling

Telegraph | James Quinn, US Business Editor | Posted 10.28.2009 | Business

Read More: Economy, Financial Reform, Dark Pools, Regulation, Bankers, Short Selling, Goldman, Investors, Goldman Sachs, Investing, Flash Trading, Wall Street, Finance, Trading Practices, Sec, Trading, Financial Regulation, Business News

In a document handed to the US Securities and Exchange Commission (SEC), the investment bank asserts that such practices, some of which the SEC is loo...

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How The US Blew The Trillion-Dollar Trade Of The Century

Bloomberg | Mark Fisher | Posted 10.26.2009 | Business

Read More: Geithner, John Thain, Hank Paulson, The Logical Trader, Bush, Bill Gross, Paulson, Bailouts, Economic Crisis, Bank of America, Aig, Obama, Bofa, Taxpayers, Barack Obama, Recession, Mark Fisher, Warren Buffet, Merrill Lynch, Wall Street, Bailout, Finance, Lehman Brothers, Fed, Tim Geithner, Bernanke, Treasury, Banks, Ben Bernanke, Business News

When the government was forced to bail out the financial system, our friends in Washington also had the opportunity to make the trade of the century f...

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Big Financial Firms Losing Power On Capitol Hill

Washington Post | Binyamin Appelbaum | Posted 10.19.2009 | Business

Read More: Large Banks, Capitol Hill, Finance, Financial Firms, Washington D.C., Banks, Lawmakers, Lobbying, Lobbyists, Wall Street, Business News

Large banks are on the verge of losing a key legislative battle over the shape of financial reform, an unusual setback that reflects the continued pol...

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Credit Rating Agencies and the Next Financial Crisis

Rep. Edolphus Towns | Posted 10.19.2009 | Business

Read More: Wall Street Crisis, Wall Street, Bailout, Finance, Financial Reform, Business News, Congressional Oversight, Financial Crisis, Credit Rating Agencies, Business News
Rep. Edolphus Towns

The Moody's business model of "Leave No Fingerprints" might be alright if the credit rating agencies had not played a starring role in the collapse of the financial system. For that reason, this cannot continue.

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Goldman Sachs' Black Magic, Here's How They Did It

Dylan Ratigan | Posted 10.17.2009 | Business

Read More: Government, Goldman Sachs, Finance, Banking, Financial Crisis, Corporate Communism, Recession, Great Depression, Business News
Dylan Ratigan

The question is not why did we bail out the banks. The question is why did we give the banks billions so they could buy assets by the trillions and keep the profits?

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Turn Goldman Anger Into Government Action

Dylan Ratigan | Posted 10.15.2009 | Business

Read More: Banking, Financial Crisis, Finance, Recession, Corporate Communism, Great Depression, Goldman Sachs, Government, Business News
Dylan Ratigan

We don't want a government commandeered by those in our banking system who have failed and been passed over by technological advancements, innovation and flat-out smarts. But right now, that's what we've got.

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Goldman Sachs Bonuses: Columnist Says Analysts Predict $23 Billion Bonus Pool, Firm May Make Huge Donation

New York Times | ANDREW ROSS SORKIN | Posted 10.13.2009 | Business

Read More: Lloyd Blankfein, Citigroup, Finance, Blankfein, Executive Pay, Bonuses at Goldman Sachs, Bonuses, Geithner, Goldman Sachs, Paulson, Morgan Stanley, Wall Street, Ceo, 2009 Bonuses, Treasury, Henry Paulson, Timothy Geithner, Executive Compensation, Goldman Sachs Bonuses, Business News

By most analyst estimates, the annual bonus pool will swell to more than $23 billion. In its second quarter, Goldman disclosed it had put aside $11.4 ...

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Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 10.12.2009 | Business

Read More: Geithner, Baillout, Mha, Bank of America, Homeowners, Foreclosure Prevention, Making Home Affordable, Mortgage Crisis, Foreclosure Rates, Loan Modifications, Mortgage, Countrywide, Lenders, Finance, Default, Making Home Affordable Program, Mortgage Relief, Treasury, Banks, Foreclosure, Timothy Geithner, Housing Crisis, Business News

Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center...

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Blankfein Interview: Goldman Sachs CEO Lloyd Blankfein Says Firm Got No Special Treatment, Plans Bonuses For 2009

The Wall Street Journal | HOLMAN W. JENKINS JR. | Posted 10.11.2009 | Business

Read More: Lloyd Blankfein, Finance, Hank Paulson, Blankfein, Banks, Blankfein Interview, Bonuses, Bailouts, Bailout, Investment Banks, Goldman Sachs, Paulson, Goldman Sachs Bonuses, Interview, Ceo, Goldman Sachs CEO, Henry Paulson, Treasury, Timothy Geithner, Business News

Sitting across from me now in his comfortable office on the 30th floor of company headquarters in lower Manhattan, Goldman's CEO Lloyd Blankfein profe...

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Nicholas Cosmo: Ponzi Schemer's Bail Is Reconsidered After Violating Terms Of Release

AP | Posted 10.09.2009 | New York

Read More: Ponzi Scheme, Nicholas Cosmo, Recession, White Collar Crime, Finance, New York Recession, New York, Wall-Street-Excess, New York News

CENTRAL ISLIP, N.Y. — A federal judge says a New York businessman accused of orchestrating a $413 million Ponzi scheme has violated conditions o...

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The Cost of Corporate Communism

Dylan Ratigan | Posted 10.07.2009 | Business

Read More: Banking, Finance, Corporate Communism, Financial Crisis, Recession, Great Depression, Business News
Dylan Ratigan

The spike in unemployment, the destruction of retirement wealth, the collapse in the value of our homes, the worst recession since the Depression have all resulted directly from the abdication of proper government.

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The Daily Szep - Wall Street

Paul Szep | Posted 10.05.2009 | Comedy

Read More: Capitalism, Bailout, Cartoon, Finance, Wall Street, Comedy News
Paul Szep

...

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TARP Watchdog's Report: Treasury Misled Public On Bailouts

AP | MARTIN CRUTSINGER | Posted 10.05.2009 | Business

Read More: JP Morgan Chase, Tarp, Inspector General, Treasury Department, Geithner, Hank Paulson, Troubled Assets Relief Program, TARP Watchdog, Wells Fargo, Bailouts, Bank of America, Merrill Lynch, Wall Street, Finance, Barofsky, Neil M. Barofsky, Banks, Watchdog, Henry Paulson, Report, Timothy Geithner, Wachovia, Citigroup, Business News

WASHINGTON — The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial bank...

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Goldman Sachs To Be Paid $1 Billion If CIT Fails; Taxpayers Would Lose $2 Billion

Financial Times | By Henny Sender and Saskia Scholtes | Posted 10.04.2009 | Business

Read More: Chapter 11, Goldman Sachs, Credit Default Swaps, Finance, CIT Bankruptcy, Treasury, Cit, Timothy Geithner, Bankruptcy, Geithner, Lenders, Bailouts, Blankfein, Lloyd Blankfein, Business News

Goldman Sachs stands to receive a payment of $1bn -- while US taxpayers would lose $2.3bn -- if embattled commercial lender CIT files for Chapter 11 b...

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Where Will the Jobs Come From?

John K. Delaney | Posted 10.02.2009 | Business

Read More: Economic Recovery, Small Business, Lenders, Finance, Job Creation, Small Business Administration, Business News
John K. Delaney

To be an employed nation we have to return to our roots and embrace, encourage and reward entrepreneurs and small businesses.

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Toxic Assets: Government's New Programs Aim To Buy Buy Banks' Bad Assets, Help Home Buyers

Washington Post | Renae Merle and David Cho | Posted 09.29.2009 | Business

Read More: White House, Finance, Tax Credits, Banks, Troubled Assets, Housing and Economic Recovery Act, Mortgages, Fannie Mae, Recession, Obama, Real Estate, Bad Assets, Geithner, Billions, Freddie Mac, Toxic Assets, Housing, Treasury, Lending, Tarp, Business News

The Obama administration is close to rolling out two initiatives aimed at addressing lingering problems from the financial crisis: A long-delayed effo...

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