pardoning the bankers
William Cohan makes an impassioned plea for a pardon on behalf of a former Goldman Sachs executive. The problem, as you can see from the comments, is that nobody has much sympathy for someone who committed a crime, served four months in jail and then retired to his home in the wealthy suburb of Rye, [...]
The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression: The Great American Bubble Machine : Rolling Stone. Absolutely brilliant. It’s hard to understand why more people don’t get it – the problem is not whether the Democrats or Republicans are in charge of the government. The problem is [...]
Goldman Sachs on pace for record bonuses
Guess that bailout really paid off! Sure glad we managed to save Goldman from having a non-record-bonus year. via Goldman Sachs on pace for record bonuses: report | U.S. | Reuters.
Bank of America’s Lewis Tells of Pressure to Buy Merrill Lynch
…Mr. Lewis maintained that federal officials pressured him to keep the merger alive, and acknowledged that his job had been at risk if he did not. But he resisted lawmakers’ efforts to characterize the situation as a threat. And he backed away from earlier statements in which he suggested that Mr. Bernanke and Mr. Paulson [...]
Financial Policy Despair
And now Mr. Obama has apparently settled on a financial plan that, in essence, assumes that banks are fundamentally sound and that bankers know what they’re doing. via Op-Ed Columnist – Financial Policy Despair – NYTimes.com. I know Krugman’s a bit too strident and “liberal” (if, by liberal, you mean a Nobel-prize winning economist who [...]
Never Say Thank You
This very short piece says everything you need to know about investment banking (and trust me, public accounting was not far off of this, either): Never Say Thank You – NYTimes.com.
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