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Europe and US split on derivatives reform By Jeremy Grant in Brussels Published: December 2 2009 01:02 | Last updated: December 2 2009 01:02
Bruce Wasserstein 1980's "Master Of The Universe" DiesThe Wasserstein children had tremendous talent and horrible bad luck. Wendy, a Pulitzer Prize playwrite, died of cancer in 2006. Sandra Wasserstein Meyer a martketing genius died of cancer in 1998. Now Bruce dies of heart problems.
Robert Reich's Blog: The Three Essentials of Financial ReformRobert Reich discusses the thre essentials of Financial reform from his perspective. They are: 1. Stop bankers from making huge, risky bets with other peoples' money; 2. Prevent any bank from becoming too big to fail; and 3. Root out three major conflicts of interest.
My rural corner of Virginia is not often in the news and almost never in the financial section. The peaks and troughs of Wall Street are distant afterthoughts here.
Eliot Spitzer: Too Big Not To Fail - We need to stop using the bailouts to rebuild gigantic financial institutions.We're using the bailouts to rebuild giant financial institutions.
The name Goldman Sachs approaches mythical proportions in the world of investment banking.
The End of Wall Street's Boom as Told by Michael LewisVery thorough article about how the Wall Street system unraveled and who saw it coming a couple of years ago.
HSBC may cut 600 jobs in Asia -reportThe Asian arm of UK bank HSBC Holdings may cut 600 more staff as economic conditions worsen, Hong Kong's Standard newspaper reported on Monday, citing unnamed sources. HSBC spokesman Gareth Hewett declined to comment.
Emanuel undecided as Obama builds teamSpeculation swirled Wednesday over what appointments President-elect Barack Obama would make as he pivots from an election campaign to the task of building a Democratic administration.
Alfred Gusenbauer: There are valuable lessons to be learned from the failure of the neo-liberal economic modelApologists for neo-liberalism assume not only that states should be run like companies, but also that, as far as possible, they should not intervene in the economy. The market, they insist, regulates itself.
Wall Street: Fall of the fat catsIn the 1990s, Jordan Belfort, the self-proclaimed "Wolf on Wall Street" says he made $1 million a week and lived the life with his own helicopter, a yacht, dozens of servants and a mansion in the Hamptons. But it was all based on fraud.
Rep DeFazio: Oppose the Bush/Paulson BailoutDemocratic Leadership has done a tremendous job trying to modify the Bush/Paulson bailout into something acceptable, but the fundamental premise of the plan is flawed, thus it should not be supported.
A Viable Alternative to the Paulson Bail-outThe masters of the universe now seem masters of nothing. Within the financial world though, alternatives to the Treasury plan emerge from bright and independent money managers outside the group-think of large corporatist investment banks.
"It's Trickling Down Now, Boy!" -- Sinfest Takes On the Banking CollapseAmong the best web-comics out there, Sinfest sometimes veers into the realm of the political. Enjoy.
Goldman, Morgan Switch to Bank Holding CompaniesThe Federal Reserve says it has granted a request by the country's last two major investment banks—Goldman Sachs and Morgan Stanley—to change their status to bank holding companies.
The End of Goldman Sachs (and Morgan) and Wall Street As We Knew ThemThe Federal Reserve approved the conversion last night of the two remaining investment titans on Wall Street, Goldman Sachs and Morgan Stanley, into bank holding companies, offering them broader government protection in exchange for tighter regulation and constraints on their onc …
Wall Street as we know it is kaputWhat's really happened is that Wall Street's business model has collapsed. Greed and fear, which routinely govern financial markets, have seeded this global crisis. Just when it will end isn't clear.
US government rescues insurer AIG"The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy. AIG will get an $85bn loan, in return for an 80% public stake in the firm.
As markets reel, the blame game beginsAfter a 500-point drop in the Dow, Treasury Secretary Henry Paulson briefed reporters Monday. Photo: AP Wall Street is now at the mercy of Washington.
A Devil's Dictionary of FinanceInvestment bankers and hedge fund managers are crafting financial instruments the likes of which have never been seen by the industry, the consumer or the Federal Reserve As mortgages melt down, the market gyrates, and the regulators make their pronouncements, here is a short lis …
Congress's 1999 Repeal of the Glass-Steagall Act Passed in 1933 Could Cause the Next Great DepressionThe collapse of financial markets in the first Great Depression led to the US Congress to enact laws that would hopefully insure that such a collapse would never again happen. To that end, in 1933 the Glass-Steagall Act was passed by Congress and signed into law.
JPMorgan in Negotiations to Raise Bear Stearns Bid to $10 a ShareJPMorgan shares jumped last Monday on news of the deal. Bear Stearns shares never traded as low as $2, as shareholders valued them more than twice as much.
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