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By Joseph Conrad
By Steven Hill
$11.01
$21
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peasap (CC BY 2.0)
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A Bloomberg Markets magazine study estimates that dirt-cheap borrowing programs and other benefits have saved the nation’s six largest banks—JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley—$102 billion since 2009.
Posted on May 10, 2013
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Wired Photostream (creative commons)
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Facebook faced more bad news Wednesday in the wake of its botched initial public offering. Shareholders filed a lawsuit against the social networking company, lead underwriter Morgan Stanley and several other Wall Street banks, alleging that they misled them about Facebook’s revenue projections ahead of the IPO.
Posted on May 23, 2012
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birgerking
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The fallout over Facebook’s botched IPO continued on Tuesday with a lawsuit filed against NASDAQ over mishandled orders and word that regulators may investigate Morgan Stanley, which helped set the price of the stock, and other underwriting banks.
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deneyterrio (CC BY 2.0)
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Mark Zuckerberg’s fortune dropped $2 billion Monday as shares of Facebook tumbled to $34.03, 11 percent below their initial public offering price of $38. The loss prompted analysts and buyers to wonder whether the company was overvalued at the $105 billion it gained on the day of its IPO.
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AP / Pablo Martinez Monsivais
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By Robert Scheer — Two years into the Obama presidency and the economic data is still looking grim. Don’t be fooled by the gyrations of the stock market, where optimism is mostly a reflection of the ability of financial corporations—thanks to massive government largesse—to survive the mess they created.
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Flickr / World Resources Institute Staff
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It’s been nearly a year since Lehman Brothers went belly-up, effectively kicking off the financial implosion of fall 2008. However, despite the firm’s catastrophic demise, some Lehman execs managed to land on their feet. Tuesday’s Wall Street Journal gives an update about their current activities.
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Flickr / aflcio2008
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Unemployment rose to 9.5 percent last month, the highest level in 26 years. Meanwhile, Wall Street payouts are not dropping. Goldman Sachs will be shelling out a whopping $20 billion to its employees this year. As we enter the 20th month of this recession, unemployment is becoming a way of life for many, and the very same people who created this mess are still reaping the profits.
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Flickr / World Economic Forum
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Mark Ames via Alternet —
Why did Goldman Sachs, Citigroup and Morgan Stanley steer millions to a company Larry Summers directed while he administered “stress tests” on them?
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Wikimedia Commons / Asymptote Architecture
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The Dow shot up more than 900 points Monday after nations around the world pitched into the effort to resuscitate the dangerously flagging global marketplace by announcing their own rescue plans.
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0-60mag.com
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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.
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Glaciers Are Melting Slowly but Surely
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