The Big Short by Michael Lewis is a Must-Read

I just watched the 60 Minutes segment on Michael Lewis and his new book, “The Big Short.” He had some terrific sound bites including my favorite about AIG: “…they didn’t know the mistake they were making.” Here’s one reason...

Bailout Strategy—Rip Off the Little Guy?

Who needs TARP to bail out financial institutions? Your local supermarket carries a retail version at the checkout counter. We know the program as “gift cards.” Last week while I was grocery shopping, the gift-card display piqued my curiosity. So I took a...

Bonus Watch

Wall St.’s Biggest Bonuses Go to Not-So-Big Names Last Friday the season finale aired to Bonus Watch. Here’s the deal. Jamie Dimon gets $17 million for presiding over JP Morgan’s bungee-jump rebound during 2009. Lloyd Blankfein gets $9 million for doing “God’s work”...

Greeks Take to Streets on Debt Deal

Greek Crisis: EU Leaders Reach Deal Over Debt In a spontaneous display of euphoria, Greek citizens took to the streets minutes after Eurozone nations agreed to bail out their country. Here is groundbreaking footage direct from Athens: Norb Vonnegut

Holden Caulfield on Banking

“If you really want to hear about it, the first thing you’ll probably want to know is who made all the lousy decisions leading up to the banking disaster of 2008, and how the government was out to lunch during the entire bailout, and all that Neil Barofsky...