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Investment Banks

How Iceland's Lawyers Enabled Fraud

Iris Erlingsdottir | Posted 07.10.2009 | World

Read More: Michael Jackson, Legal Ethics, Lawyers, Legal-Ethics, Cheney, Iceland Economic Crisis, Iceland Global Economic Crisis, John Yoo, Iceland Economy Collapse, Iceland, Elvis Presley, Iceland Bankrupt, Dick Cheney, John Yoo Torture, John Yoo Memo, Global Economic Crisis, Iceland Banks, Investment Banks, Iceland Economy, Iceland National Bankruptcy, Ethics, Banks, Financial Crisis, Banking Crisis, Iceland Financial Crisis, Global Financial Crisis, Iceland Bank Crisis, World News
Iris Erlingsdottir

The lack of clear ethical rules and the frontier justice mentality in Iceland continues to cause confusion and raise questions about the legal profession's ability to regulate itself in Iceland.

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Trying to Fix the Broken 401(k) System

Garrett Johnson | Posted 07.07.2009 | Business

Read More: Reform, 401(K) Plans, Retirement Funds, Investment Banks, Baby Boomers, Wall Street, Vanguard, George Miller, Business News
Garrett Johnson

Representative George Miller is waging a lonely war against powerful enemies. He's trying to reform the 401(k) system, a system that most on Wall Street don't want reformed.

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I Just Don't Get It

Larry Gellman | Posted 06.24.2009 | Politics

Read More: U.S. Economy, Right Wing Media, John McCain, Global Economy, Rush Limbaugh, Iran Election, Cnbc, Economy, Economic Crisis, President Obama, Bank of America, Right Wing, Iran, Obama Economy, Lindsey Graham, Iranian Election, Barack Obama, Investment Banks, Goldman Sachs, Investing, Economic Stimulus Package, Finance, Larry Kudlow, Rush Limbaugh Obama, Fox News, Henry Paulson, Financial Crisis, Economic Stimulus, Saxby Chambliss, Fox, Citigroup, Politics News
Larry Gellman

It seems pretty clear that Obama is actually insisting that we change the approach that led the economy off a cliff. I just don't get it.

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Lesson Learned

Sen. Fritz Hollings | Posted 05.29.2009 | Politics

Read More: Investment Banks, Timothy Geithner, Offshoring, Bank Bailout, Trade, Nafta, Politics News
Sen. Fritz Hollings

We're bailing out the economy boat desperately with stimulation, but the financial leadership opposes plugging the hole in the hull from offshoring.

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A New Style of Investing for a New Day

Kevin Jones | Posted 05.27.2009 | Business

Read More: Investment Banks, Greed, Investing, Corporate Greed, American Greed, Business News
Kevin Jones

Hollywood may be remaking Wall Street, but the days of Gordon Gekko and the "greed is good" mantra are behind us. Now it's becoming a reality in the investment community.

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Banks Earned $7.6 Billion In First Quarter Profits

AP | MARCY GORDON | Posted 05.27.2009 | Business

Read More: Investment Banks, Fdic, Morgan Stanley, Wells Fargo, Federal Deposit Insurance Corp, Bank of America, Banks, Banking Crisis, Sheila Bair, FDIC Chairman Sheila Bair, Gmac, Citigroup, Business News

WASHINGTON — The nation's banks turned a profit in the first quarter, but the number of problem banks jumped to the highest level in 15 years an...

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Banks Lobby To Be Both Buyers and Sellers In Troubled Asset Program

wsj.com | DAVID ENRICH, LIZ RAPPAPORT and JENNY STRASBURG | Posted 05.27.2009 | Business

Read More: Investment Banks, Goldman Sachs, Fdic, Bank Lobby, Private Public Investment Program, Wells Fargo, Ppip, Banking Regulation, Bank of America, Banking Crisis, Citigroup, American Bankers Association, Business News

Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves. Banking trade groups are...

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Another Turd War Breaks Out at Merrill Lynch

John Carney | Posted 05.15.2009 | Business

Read More: Investment Banks, Merrill Lynch, Wall Street Crisis, Business News
John Carney

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.

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J.P. Morgan Bests Goldman Sachs To Be Number One

Portfolio | Anonymous | Posted 04.27.2009 | Business

Read More: Goldman Sachs, Investment Banking Rankings, JP Morgan, Investment Banks, Banking Rankings, Jp Morgan Bests Goldman Sachs, Goldman Sachs Beaten by Jp Morgan, Business News

Up until about 2006 or so, to work at J.P. Morgan Chase was to experience the feeling that you were part of the blanding of banking. In Wall Street...

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Summers/Geithner Plan: Bank Heist One More Time

Diane Francis | Posted 04.07.2009 | Business

Read More: Harvard University, Wall Street, Investment Banks, Tim Geithner, Tim Geithner Bailout, Banking Crisis, Banks, Larry Summers, Traders, D.E. Shaw, Leverage, Financial Crisis, Business News
Diane Francis

This plan is more of the same: highly leveraged risk-taking shenanigans facilitated by a naive government and tax dollars.

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Joshua Cooper Ramo: Surprise! Global Financial Crisis Could Turn China Into A Superpower

Diane Tucker | Posted 03.23.2009 | World

Read More: Obama Cabinet, China Tibet Crackdown, China Products, World Economy, Henry Kissinger, Time Magazine, Subprime Mortgage Crisis, President Obama, 9/11, Banking Crisis, University of Michigan, Bill Browder, Richard Nisbett, Diane Tucker, Hermitage Fund, China Economy, China Human Rights, Joshua Cooper Ramo, Global Financial Crisis, China, The Atlantic, Age of the Unthinkable, Chinese Financial Crisis, American Superpower, Superpower, Investment Banks, Leveraged Buyout, Subprime Mortgage Market, Stock Market, Free Market, New York/New York, World News
Diane Tucker

The Chinese banking system has been through so much stress during the last few decades, they are in a much better position than the U.S. to deal with the global financial crisis, says Joshua Cooper Ramo.

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How I Lost My Job and Why I don't want it back

Jon Santiago | Posted 03.11.2009 | Business

Read More: Layoffs, Wall Street Layoffs, Wall Street Crisis, Wall Street, Finance, Financial Crisis, Banks, Investment Banks, Banking Crisis, Bank Bailout, Getting Fired, Leaving Wall Street, Business News
Jon Santiago

I now think the "Main Street" perception of recklessness in the ivory towers of Wall Street, which initially struck me as too emotional and unfounded, is partially accurate.

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Book: The Secret History Of Bear Stearn's Boiler Room

Mar. 3, 2009 | William D. Cohan | Posted 03.04.2009 | Business

Read More: Investment Banks, Bear Stearns Collapse, Bear Stearns, Bear Stearns Bailout, Investment Banks Bankruptcy, Bear Stearns Book, Business News

NEW YORK (Fortune) -- Years from now, when academics search for causes of the stock market crash of 2008, they will focus on the pivotal role of mortg...

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More Nightmares Lurk on Street of Dreams

Dan Dorfman | Posted 02.24.2009 | Business

Read More: Economic Stimulus Package, Mark Leibovit, VRTrader.Com, Stocks, Money, Investment Banks, Bonds, Gold, S&P 500, Arnold Silver, Investing, Housing Slump, Dow Jones, Banking, Financial Crisis, Business News, Treasury Secretary Timothy Geithner, Wall Street, Business News
Dan Dorfman

Taking a longer term outlook, Leibovit thinks "we're in for five or six years of hell," with the Dow tumbling to about 2,000. So where should investors put their money? Consider cash and gold.

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Banks' Stress Tests: Find Out How Stressed Is Your Bank

Time | Stephen Gandel | Posted 02.19.2009 | Business

Read More: Banks Stress Test, Investment Banks, Stress Test, Banking Crisis, Banks, Bailout Banks Stress Test, Business News

Geithner hasn't detailed his test, other than that it won't be complete for another month. Worse, officials at the Treasury say the tests probably won...

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Roosting Chickens

Gary Hart | Posted 02.11.2009 | Politics

Read More: Salmonella Peanut Butter, Investment Banks, Bush Administration, Gary Hart, Economy, Economic Crisis, Bernard Madoff, Madoff Scandal, Taxpayers, Politics News
Gary Hart

What does the unrelated cast of characters featured in this evening's newscast have in common? They all benefited from the tax cuts and deregulation policies of George W. Bush.

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British Bankers: I'm Sorry For Financial Crisis

AP | JANE WARDELL | Posted 02.10.2009 | Business

Read More: Halifax Bank of Scotland, Dennis Stevenson, Fred Goodwin, Andy Hornby, Bailout Bandits, Bailout, Investment Banks, Bankers Apologize, Tom McKillop, Banks, Banking Crisis, Royal Bank of Scotland, Business News

LONDON — The former heads of Royal Bank of Scotland Group PLC and HBOS PLC apologized to shareholders and the public on Tuesday for the near col...

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BofA To Sell Gulfstreams, Luxury Apartment

NBC | Charlie Gasparino | Posted 02.04.2009 | Business

Read More: Banks, Bank of America, Gulfstream, Corporate Jets, Investment Banks, Ken Lewis, Business News

Bank of America, reacting to the recent controversy over executive perks, plans to sell three of its seven corporate jets, sources inside the bank tel...

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Obama and Volcker: Economic Solutions, Good; Summers and Geithner: Financial Solutions, Not Good.

Saskia Sassen | Posted 01.27.2009 | Business

Read More: Investments, Debt, U.S. Economy, Economy, Larry Summers, New York Review of Books, Taxpayers, Paul Volcker, Rubinomics, Economic Plans, Investment Banks, Taxpayer Money, Financial Crisis, Financial TImes, Timothy Geithner, Shadow Banking, Taxes, Money, Economic Crisis, Obama Economy, Barack Obama, Paul A. Volcker, US Economy, Npr, Leonard Lopate, Subprime Mortgages, Obama Economic Plan, House of Rubin, Subprime Mortgage Crisis, Banking, Banking Crisis, Banks, Jeff Madrick, Investment Banking, Business News
Saskia Sassen

The shadow banking system is not illegal or clandestine. It is in the open, but it has thrived on the opaqueness of the investment instruments, facilitated by their complexity.

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Obama-Nomics Coming

Diane Francis | Posted 01.06.2009 | Business

Read More: Investment Banks, Global Reforms, Aig, Credit Default Swaps, Global Economy, President Obama, Wall Street, Lehman, Economy, Meltdown, Banks, Global Credit Crisis, Obama, Credit Crisis, Market Reforms, Obama's Economic Team, Business News
Diane Francis

Obama-nomics won't merely be the New Deal Part Two. It will have to be executed along with policies hammered out in partnership with the best minds and most enlightened leaders in the world.

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Make Wall Street Take The Same Deal The Autoworkers Get

Chris Weigant | Posted 12.22.2008 | Business

Read More: Private Jets, White House, Autoworkers, Economics, 350 Billion, Private Jet, Bailouts, Jets Corporate Jet, Christopher Cox, Gail Vida Hamburg, Charles Schumer, Income, Bush, Krugman, Automakers, Big Three, Auto Bailout, Goldman Sachs, Politics, Jet, Bailout, Treasury, Paul Krugman, Big 3, Tarp, Union, Detroit, Comparison-Shopping, 700 Billion, Sec, Gm, Investment Banks, Bruce Raynor, Executive, Compensation, Car Companies, Chrysler, Nobel Prize, Schumer, Wall Street, Chris Weigant, Ceo, Salary, Banks, Fox News, Unions, Senate, Republicans, Ponzi, Business News
Chris Weigant

If we're going to minutely examine autoworkers' wages, and dictate the travel plans of one industry we are bailing out, then it seems eminently reasonable to do the same for the banking industry.

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No Cheer For Investment Banks: Morgan Stanley, Goldman Sachs To Report Losses

New York Post | Posted 12.15.2008 | Business

Read More: Goldman Sachs, Banks, Morgan Stanley, Investment Banks, Business News

Morgan Stanley's expected to ring up losses of about $1 billion when it reports its fiscal fourth-quarter earnings Wednesday. Continued fretfulness...

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Time to Blame Our Own Greed For the Madoff Mess

Vicky Ward | Posted 12.14.2008 | Business

Read More: Investment Banks, Ponzi Scheme, Bernard Madoff, Economy, Economic Crisis, Bernie Madoff, Business News
Vicky Ward

When are we going to stop talking about Madoff's "victims" or "foolish investors" and instead ask investors to take responsibility for their own actions?

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For Ivy League Seniors, No More Banking on Big Bucks

Julia Plevin | Posted 11.30.2008 | Style

Read More: Investment Banks, Tom Wolfe, Ivy League, Paul Farmer, Economy, Graduation, College Graduation, Investment Bankers, I-Bankers, I Am Charlotte Simmons, Style News
Julia Plevin

It is the American dream to make a rush toward fortune. In 1849, people swarmed to California for gold. In the late 1920s, people rushed to the stock markets when margins were as low as 10%.

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Losing Grip on Reality: What Ails the American Economy Runs Deeper Than the Credit Crisis

Shawn Lawrence Otto | Posted 10.23.2008 | Business

Read More: Investment Banks, Education, Economy, Economic Crisis, Science, Inventions, Innovation, Future, Business News
Shawn Lawrence Otto

Public investments in basic research and education have been our most reliable economic engine. And yet in recent years we have failed to maintain that engine and to refill our tank.

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