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Tag: Lehman Brothers


Poster Boy NYC (CC-BY)

Searching for Sustainable Models of Activism, 2 Years After Occupy

While economists are celebrating a tenuous recovery five years after the collapse of Lehman Brothers, this week’s U.S. Census Bureau report on poverty provided a sobering statistic.

Posted on Sep 19, 2013 READ MORE



Fey Ilyas (CC BY-SA 2.0)

We Told You So

Two months before the collapse of Lehman Brothers in 2008, a group of experts and I warned the Obama campaign about the likelihood of a global economic crisis. Not the slightest word came back.

Posted on May 18, 2012 READ MORE


Lehman Brothers: We Let Them Get Away With It

“60 Minutes” digs into the collapse of Lehman Brothers, and more specifically the government’s decision not to prosecute the managers of the failed investment bank or its accounting firm.

Posted on Apr 23, 2012 READ MORE



AP / Charles Dharapak

Geithner and Goldman, Thick as Thieves

What was Timothy Geithner thinking back in 2008 when, as president of the New York Fed, he decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? The sordid details of that program were finally made public this week in response to a court order for a Freedom of Information Act release, thanks to a Bloomberg News lawsuit.

Posted on May 31, 2011 READ MORE


Richard Fuld Jr.
World Economic Forum / Remy Steinegger

Lehman Execs May Escape Charges

Officials at the SEC have begun to doubt that the agency can prove that executives of the now-defunct Lehman Brothers investment bank broke the law after the company allegedly moved billions of dollars off its balance sheet.

Posted on Mar 12, 2011 READ MORE


Euro symbol
AP / Daniel Roland

When the Euro Almost Died

In a fascinating tale of international financial intrigue, the Wall Street Journal reveals how a secret task force of European leaders—dubbed “the group that doesn’t exist”—was formed in 2008 to prevent the collapse of the eurozone, which could have triggered another global economic tsunami.

Posted on Sep 25, 2010 READ MORE



Flickr / Roger@elaws ?

Nothing Has Changed on Wall Street

A year after Lehman Brothers went under—taking a big chunk of the economy with it—the deregulation and lax oversight that enabled the crisis are still a problem. According to this New York Times report, things might even be worse.

Posted on Sep 13, 2009 READ MORE


Blankfein
AP / Mark Lennihan

‘Government Sachs’ Strikes Gold ... Again

Connect the dots: Goldman Sachs made $3.44 billion in profit this past quarter, while the U.S deficit topped $1 trillion for the first time in the nation’s history and appeared to be headed toward doubling that figure before the budget year is out. Since most of the increase in the federal deficit is due to bailing out the banks and salvaging the greater economy they helped destroy, why is the top investment bank doing so well?

Posted on Jul 14, 2009 READ MORE


money bags
0-60mag.com

Just How Fat Are Wall Street’s Fat Cats?

Sure, we’ve all heard the stories about Wall Street bigwigs lining their pockets with gold dubloons while the rest of us scramble to save pennies, but The New York Times has drawn out that contrast in graphic detail with a handy series of charts showing the total earnings (including bonuses) of 12 top executives from 2003-2007.

Posted on Oct 7, 2008 READ MORE


Richard Fuld Jr.
World Economic Forum / Remy Steinegger

Lehman Bros. Paid Execs Millions as Company Tanked

On Monday, the House Oversight and Reform Committee took a look into the collapse of Lehman Brothers as part of a larger review of the factors leading to the current economic crisis, and it wasn’t a pretty sight. Judging by the committee’s account, leaders at Lehman Bros. disregarded key warnings of impending trouble and cut hefty checks for their fellow executives even as the firm teetered on the brink of disaster.

Posted on Oct 6, 2008 READ MORE


Goodman

‘Democracy Now!’: Sen. Sanders, Scheer on the Bailout Boondoggle

On Monday morning, as the aftershocks from Wall Street’s worst week in decades continued to rock the national and global economy and the Bush administration scrambled to contain the fallout with a bailout plan that could cost American taxpayers over a trillion dollars, Sen. Bernie Sanders, Robert Scheer and Dean Baker joined “Democracy Now!” host Amy Goodman (above) to sort through the rubble and speculate about what might come next.

Posted on Sep 22, 2008 READ MORE


Left, Right & Center

‘Left, Right & Center’: Wall Street on the Rocks

What to make of the bailouts and sellouts that dominated the past week’s financial headlines? Well, “Left, Right & Center” commentators Matt Miller, Robert Scheer and Tony Blankley (Arianna Huffington was away) have some ideas about what caused the nightmare on Wall Street and what the future holds.

Posted on Sep 19, 2008 READ MORE


Wall Street crisis
AP photo / Richard Drew

Economic Meltdown: Don’t Say We Weren’t Forewarned

Has the war on terrorism become the modern equivalent of the Roman Circus, drawing the people’s attention away from the failures of those who rule them? Corporate America is a shambles because deregulation, the mantra of our president and his party, has proved to be a license to steal.

Posted on Sep 19, 2008 READ MORE


Daily Show

‘Daily Show’: Economic Meltdowns Have Their Upsides

Hey, now that Jon Stewart mentions it, that whole government bailout thing starts to sound a lot better: We, the taxpayers, just bought a really, really big insurance company. That’s like having two hotels each on Boardwalk and Park Place in Monopoly, right?

Posted on Sep 18, 2008 READ MORE


Crash of the Titans

‘Daily Show’: The Notorious A.I.G.

Whither Lehman Brothers? Et tu, Merrill Lynch? What’s going on on Wall Street? Jon Stewart breaks down the financial meltdown on Tuesday night’s edition of “The Daily Show”—complete with ‘80s monster movie allusions. Sweet!

Posted on Sep 17, 2008 READ MORE


Wall Street subway sign
Flickr / epicharmus

Markets Brace for More Turbulence After Monday’s Drops

President Bush and Treasury Secretary Henry M. Paulson Jr. attempted to head off mounting market woes and investor freak-outs at the pass on Monday as Wall Street suffered its worst losses since right after the Sept. 11, 2001, terrorist attacks.

Posted on Sep 15, 2008 READ MORE



Flickr / tshein

Candidates Debate Economy as Banks Fail

While John McCain took heat for reasserting that “the fundamentals of the economy are strong,” two of the five biggest American investment banks folded on Monday. Bank of America bought out troubled Merrill Lynch while Lehman Brothers declared bankruptcy. Update: Another big one stumbles

Posted on Sep 15, 2008 READ MORE


McCain Adviser on Economy: ‘Things Today Just Aren’t That Bad’

On Sunday, The Washington Post ran an Op-Ed piece written by McCain campaign adviser Donald Luskin in which he argues that, despite “trouble spots in the economy,” recent comparisons between the present moment and the Great Depression are the product of “pessimists” and “politics.” Over to you, Alan Greenspan.

Posted on Sep 14, 2008 READ MORE


Left, Right & Center

‘Left, Right & Center’: Fannie and Freddie, Sarah and Charlie

On Friday’s episode of “Left, Right & Center,” show regulars Matt Miller, Robert Scheer and Tony Blankley weigh in about the Fannie Mae and Freddie Mac crisis, the fate of Lehman Brothers and Republican VP nominee Sarah Palin’s one-on-one with ABC’s Charlie Gibson.

Posted on Sep 13, 2008 READ MORE


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