Of the many scandals that have plagued Wall Street of late, the “London Whale” trades, which cost banking giant JPMorgan Chase more than $6 billion, has captured the attention of the financial media more than any other. The biggest reason for journalists’ obsession with this story is that it tarnished the reputation of JPMorgan CEO Jamie …
The normally secretive private equity industry spent 2012 in the spotlight thanks to Mitt Romney‘s ill-fated presidential run, and some of these firms appear to be capitalizing on all the free press they received — literally.
That’s right, the publicly traded private equity firm Carlyle Group — whose funds were once open only to the …
Four and a half years after the passage of TARP, one thing is abundantly clear: The American public really, really hates bank bailouts. And yet, nearly three years after the passage of the Dodd-Frank financial reform bill, it …
For some time time now, the American economy has been a strange dichotomy. On the one hand, we’re in the midst of an historically strong four-year bull market, yet the unemployment rate remains stubbornly high. The real estate …
Ever since the financial crisis, Americans have begun to see bubbles everywhere they turn. The damage wrought by the real estate bubble has been so extensive that the nation is rightfully terrified that another asset bubble is …
The sequester is all anybody wants to talk about. I get it: It’s the hip new crisis sweeping Washington. But remember Fannie Mae and Freddie Mac? You know, the once quasi-independent housing giants whose takeover by the federal government has cost taxpayers upwards of $190 billion thus far? Well, Fannie and Freddie are still owned by the …
Ask the expert: how long before the U.S. is forced into austerity measures by foreign creditors, as we see happening in Greece?
The American Bankers Association, the lobbying group that represents America’s banking industry, has recently launched an ad campaign across Washington D.C. aimed directly at the nation’s credit unions. The print version of the campaign is to the point, reading simply:
“Today credit unions are a $1 trillion industry that pays no
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Correction appended on February 23rd at 11:40 a.m.
Opponents of marijuana prohibition had one heck of a year in 2012, as voters in both Washington and Colorado passed ballot initiatives legalizing recreational use of the drug. …
If you get the impression that the stock market is some sort of paranoid neurotic, overreacting to every little whispered rumor and half truth, you’re not alone.
The strong start to 2013′s M&A market continued yesterday, with Office Depot announcing it would acquire its rival OfficeMax in a $1.17 billion deal.
Critics of the nation’s largest banks haven’t had very many friends in Washington lately, but that dynamic changed markedly in January, when Massachusetts Senator Elizabeth Warren — perhaps Big Finance’s most articulate gadfly — was sworn in and given a seat on the Senate Banking Committee. And last week, the committee held its first …
