Rather than following the booms and busts, Gleeson-White presents the life and work of the “father of accounting,” Luca Pacioli.
Why alleged collusion between private equity firms, like Bain Capital, matters to ordinary people.
In a new book, a former Senate insider and lobbying kingpin spills the beans on how Wall Street throws its weight around Washington.
For those who aren’t familiar with the mini-soap opera surrounding the convention fundraising effort, it goes something like this:
If you haven’t been following that other British scandal—not Murdoch, but the interest-rate scandal that made heads roll at Barclays—then you really should be. As Matt Taibbi explains, it’s a neutron-bomb of a revelation that’s caused even hardened cynics to rethink their assumptions about the banking system.
Critics of Wall Street argue that the financial crisis proves that deregulation failed. The erstwhile defenders of financial deregulation are on the d
I didn't watch Jamie Dimon's Senate testimony today, but from the Times live blog it looked like this was the most dramatic moment: Mr. Dimon gets testy for the first time in the hearing. "I think you are misinformed," he told Senator Jeff Merkley, Democrat of Oregon, who said JPMorgan was saved by government bailouts in 2008. "You're factually wrong," Mr.
November 6, 2011 Washington Post article by Zach Goldfarb: “During Obama’s tenure, Wall Street has roared back, even as the broader economy has struggled. The largest banks are larger than they were when Obama took office and are nearing the level of profits they were making before the depths of the financial crisis in 2008, according to government data. Wall Street firms — independent companies and the securities-trading arms of banks — are doing even better. They earned more in the first 2 1/2 years of the Obama administration than they did during the eight years of the George W.
When JP Morgan announced its $2 billion trading loss a few weeks back, a handful of smart conservatives saw an opportunity for Romney to get to Obama’s left: Call for an end to too-big-to-fail. As AEI’s James Pethokoukis put it: In one fell swoop, Romney would undercut the charge that he’s a creature of Wall Street and the financial superelite. And given how many hedge fund managers and other investment pros dislike the mega-banks, Romney probably wouldn’t even take a fundraising hit.
New York Times columnist David Brooks, defending Mitt Romney against a new Romney-bashing ad from President Obama’s re-election campaign, describes private equity as a “reform movement”: "Forty years ago, corporate America was bloated, sluggish and losing ground to competitors in Japan and beyond. But then something astonishing happened. Financiers, private equity firms and bare-knuckled corporate executives initiated a series of reforms and transformations. The process was brutal and involved streamlining and layoffs.