MF Global, JP Morgan’s Whale Fail, LIBOR rate-rigging: The financial services industry has been cranking out scandal like it’s going out of style. The incidence of financial scandal has become so frequent, in fact, that each …
Finance
High Frequency Trading: Wall Street’s Doomsday Machine?
Another week, another Wall Street scandal, and another opportunity for pundits to bemoan the incompetence and venality of America’s financial professionals. Last Wednesday’s near collapse of Knight Capital Partners – in which a …
Wall Street’s Robot Uprising Quickly Quelled
Though some day traders referred to yesterday’s software glitch to something out of the Terminator movies, long-term investors have little to worry about.
Hey, At Least Investment Bankers Are Losing Their Jobs, Too
It’s been five years since the 2008 financial crisis upended the global economy, and while corporate profits and national output have recovered, there are still 4.7 million fewer private sector jobs than at the beginning of the …
The Big New Idea for Saving the Euro
Giving Europe’s bailout fund a banking license would provide massive firepower to help flailing states, but proposal must first overcome deep German skepticism
Former Citigroup Head Sandy Weill Calls for Breaking up the Banks
Since the financial crisis of 2008, there have been a host of critics of the banking industry who have called for hard caps on the size of banking institutions, as well as the separation of commercial banking activity like …
LIBOR Rigging: What the Regulators Saw (but Didn’t Shut Down)
Why weren’t the first signs taken more seriously? Has there been a serious failure of regulation, or are there strong mitigating circumstances that could explain and justify the lack of resolute action?
Libor Manipulation: The Markets’ Worst-Kept Secret?
As fresh details continue to emerge about the Libor fixing scandal that has already claimed the head of Bob Diamond, the American chief executive of British bank Barclays, everybody, it seems, is shocked – shocked! – to …
LIBOR Scandal: The Crime of the Century?
The latest interest-rate-fixing LIBOR scandal is being heralded as the most egregious in a generation
Fallen Icon: Former Goldman Sachs Director Rajat Gupta Found Guilty
Former blue-chip honcho could face 20 years after conviction on conspiracy and three insider trading charges.
Thinking About Robbing a Bank? Read This First
It would seem like easy money. You walk into a bank, hand a threatening note to a teller, gesture at the gun in your pocket (real or squirt), then walk out moments later with a big sack of cash. Oh, sure, you might have to spend …
Dimon Hearing Reveals Lingering Questions About the Health of the Financial System
JPMorgan Chase CEO Jamie Dimon withstood a barrage of verbal flak yesterday in the Senate Banking Committee hearing which sought to investigate the over $2 billion trading loss that his bank suffered this spring. But the …