While economists are celebrating a tenuous recovery five years after the collapse of Lehman Brothers, this week’s US Census Bureau report on poverty provided a sobering statisticThis week’s U Census Bureau report on poverty provides a sobering statistic.
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.
"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.
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.Oh yes, what did Goldman do with that taxpayer money it borrowed back in 2008?
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.
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?
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.