Wall Street & Markets

Sympathy for Ken Lewis, Part 2

My colleague Stephen Gandel did the hard work of watching the Ken Lewis hearing today on TV, and e-mails this report:

The most important thing we learned from the Ken Lewis hearing today is that the Bank of America CEO has no idea what the definition of the word “threaten” is.

Lewis testified that he was considering backing out of his …

Peter L. Bernstein, inspiring guy

I had this thank you letter in mind that I was going to write to Peter Bernstein. It wasn’t going to be electronic, and it wasn’t going to be just a brief note. The proximate cause was the blurb he wrote for the back cover of my new book, but I meant to thank him more generally for making the book possible. He had given me the idea for …

Hank Paulson, national hero

Evan Newmark has a column in the WSJ making the case that we should start honoring Hank Paulson as a “national hero.” Newmark lists the various improvements in credit markets since Paulson got Congress to approve his Troubled Asset Relief Program last fall, then writes:

All of this is not to suggest that TARP alone made all these good …

Jack Welch explains shareholder value for us

I went to a strange event at Bloomberg world headquarters this evening. First came drinks and hors d’oeuvres. (I sort of cut in front of Wendi Murdoch in the drinks line, but she didn’t get hostile or anything.) Then came a panel discussion featuring Joe Stiglitz, Meredith Whitney, Jack Welch, Oliver Sarkozy (Carlyle Group financial …

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