After a couple weeks of just trying to keep up with developments in the financial crisis, reporters and bloggers are taking halting steps toward describing the mythos of the investment banker.
It’s been a while since Tom Wolfe and Bret Easton Ellis popularized the bespoke-suited arrogance commonly associated with the financial world’s anointed — the easy […]
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In the biggest bank failure in U.S. history, the Federal Deposit Insurance Co. seized Washington Mutual’s assets Thursday. The FDIC then quickly sold most of WaMu (that’s assets and liabilities) to JPMorgan.Simply put, WaMu was v
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Having been laden with the acronym TARP, the Treasury’s Troubled Asset Relief Program sounds like a pretty flimsy rescue operation. Perhaps not since the Committee to Re-Elect the President presaged Richard Nixon’s fall from the presidency have we seen a less confidence-inspiring acronym. A tarp, short for Tarpaulin, is defined by dictionary.com as “a protective […]
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“If money isn’t loosened up, this sucker could go down,” President Bush reportedly declared Thursday evening as talks over the $700 billion bailout package stalled.Friday morning, Bush reassured frazzled financial markets by declaring “a su
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There’s nothing like a belle to bring a festive mood to an otherwise gloomy ball, and today that honor belongs to Goldman Sachs, which has drawn attention - and money - from none other than Warren Buffett.
Stock futures are pointing up on news of the uber-investor’s plan to purchase a $5 billion stake in the […]
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From ClusterStock, Sept. 26, 2008:John McCain roared into Washington yesterday and reportedly broke up
an agreement on the bailout deal. In doing so, he went against not only
Democrats but the Republican president, the panicked Republican
Treasury Secr
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