Wall Street Cheers as Employment Hits 90%
While some on Main Street grumbled that the country was struggling through a so-called "jobless recovery," Wall Street professionals were cracking open the champagne Friday.
While some on Main Street grumbled that the country was struggling through a so-called "jobless recovery," Wall Street professionals were cracking open the champagne Friday.
by Zach Carter, Media Consortium Blogger Last week, President Barack Obama released key legislation designed to fight the banking industry's too-big-...
Warren Buffett is never more himself than when he is given the chance to invest in something he wants at a price of his choosing.
One of AIG's goals last fall was to persuade the counterparties to the credit default swaps it had written to accept buyouts as low as 40 cents on the dollar. Then Tim Geithner, head of the New York Fed, stepped in.
Open the phonebook and randomly pick the name of a stockbroker or a bank president. Call that person and ask them to explain to you how a synthetic or a derivative actually works.
The new pay regulations are ostensibly designed to try to align the financial incentives of managers with the longer-term performance of their firms. This measure reeks of bogus populism.
The American people have been eager to understand how the government failed to prevent bonus payments from going out the door -- payments that were paid out with their taxpayer dollars.
The CEO of the average company in the S&P; Index makes $10.5 million. That means that on the first workday of the year, he (sometimes she) has made more than the minimum wage workers in his company will make all year.
In mere days, my city, Chicago will be overrun by the worst of the worst. The lowest of the low. Criminals who have affected more lives than any mug...
Yes, a quick round of applause for Feinberg for cutting our financial wards' CEO pay. But hold off on the standing ovation; the Obama era does not need a "Mission Accomplished" moment.
Arianna Huffington and Gayle King of "O" magazine joined the Morning Joe round table on Friday morning to discuss Dick Cheney's recent criticism of t...
In New York, the oldest and snobbiest financial ventures are called "white shoe" firms. Their arrogance, risky investments and confounding dealing in derivatives threw the rest of us into the Great Recession.
Feinberg is not cutting total compensation, he's changing the composition of pay packages -- less cash, more stock with longer vesting periods. In other words, the top guys will have more skin in the game.
The Times shows its agenda when it refers to the not-yet-existing AIG bonuses slashes as "the humbling downfall of the once-proud giants" while all those pesky citizens won't stop with the "populist animosity."
Our politicians thrive on chastising the fictitious welfare queens who supposedly turn our hard-earned tax dollars into Cadillacs. But when it comes to Wall Street we let the welfare kings walk all over us.
Obama clearly seems to have imbibed some of the Chicago School's free market ideology, and the unspoken assumption that free, unfettered markets are the optimal state.
If world-class, reckless risk-taking continues to receive massive economic rewards, then we are headed to another financial collapse in two years -- or five years; or fifteen years.
Jilting the 401(k) to return to the old-fashioned pension, like going back to your spouse after a fling, is not an option. You need something that combines features of both.
Citigroup sold their Phibro commodities unit to Occidental Petroleum for $250m. That is a pittance. So why would Citi give its assets away at such bargain basement level?
In Michael Moore's worldview, a goodly portion of the American people are ignorant, uneducated, clueless pinheads too stupid to realize the fundamental principle of a loan.
The real issue for regulators around the globe is a serious definition of the financial world we want to live in. The current focus nearly exclusively on the banking sector could cause authorities to miss the broader picture.