The Big Short - a chronicle of infectious shortsightedness; epidemic blindness, delusion, and deceit.
Both extraordinarily well-made and well-acted films have received Golden Globe nominations for best motion picture screenplay
They may be unlikely allies. They may have vastly different motivations. But for now, Carl Icahn and Elizabeth Warren can justifiably claim to be on the same side when it comes to systemically important financial institutions. It is a union that bank executives should be very afraid of.
For years, critics of the bailouts during the financial crisis argued that the rescue efforts weren’t harsh enough. The chief
Hank Greenberg wasn't happy with his multibillion-dollar government bailout. He wanted more.
Of all the crazy things people have said about former AIG chief Hank Greenberg's lawsuit claiming the insurance giant's financial-crisis bailout wasn't good enough, the craziest was that he just might win.
The upshot of Geithner's criticism, of course, is that what happens in the derivatives market has nothing to do with working
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.
Lehman down, AIG up, Carmen Segarra out and a seemingly well-connected, three-peat winner, Goldman Sachs, motors on...
The goal of the lawsuit -- to provide even more for AIG's bailed-out shareholders -- seems absurd. But at least this lawsuit, which has already seen testimony from two former Treasury secretaries, is finally giving the American people some hard lessons in the workings of the bailout process and the shortcomings of our current economic system.
(For much more about Goldman Sachs, the New York Fed and Segarra's secret tapes, check out the excellent story by ProPublica
An AIG bankruptcy would have been catastrophic for the financial system, possibly taking down many companies with it. Whenever
Former cooperatives like USAA still very much put their customers first. As one of their vice presidents, Eric Vaith put
Neel Kashkari is seeking the GOP nomination to challenge California Gov. Jerry Brown (D) in the November elections. And, like
Plenty of worry for the famous wall that markets often climb, but no Armageddon's on the horizon. Maybe we can get back to "normalcy" after all, even with increased market "volume" more to the upside.
Maybe you got angry about AIG paying huge bonuses just months after it nearly brought down the financial system and took a $182 billion bailout.