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Episode #34

Top Business Stories of 2012

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Friday, December 14, 2012

Barclays Bank Fined Over Libor Investigations (Oli Scarff/Getty Images)

Ever since the presidential election, the business press has been consumed with the negotiations in Washington to avoid the December 31st fiscal cliff. 

The details of any deal that's eventually brokered will have a tremendous impact on Wall Street and Main Street, and the impending cliff has come to inform the way we look at almost everything, from holiday spending to unemployment to the stock market. 

But as is often the case, a dominant story can overshadow other events, even dramatic ones, like scandals. Remember LIBOR? What about the various glitches in high-frequency trading in 2012? 

This week on Money Talking, WNYC contributors Joe Nocera with the New York Times and Rana Foroohar with Time magazine debate which business stories and scandals from the last 12 months will continue to have an impact on the business world in 2013. 

Among other topics, they weigh in on whether we can expect to see more criminal prosecutions of companies and individuals involved in bringing on the financial crisis. 

Hosted by:

Jeff Greenfield

Produced by:

Daniel P. Tucker

Editors:

Charlie Herman

Contributors:

Rana Foroohar and Joe Nocera
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Comments [1]

Jim from Queens

The discussion on Money Talking this morning (Friday, 12/14/12) about why there haven’t been more criminal prosecutions over the financial crisis was ludicrous. The federal government brought about the crisis, mostly by requiring banks to lend money to people without good credit and with little or no downpayments. Other factors were the government’s deeply entrenched distortions of the housing market through the home mortgage interest deduction, Fannie Mae and Freddie Mac, the Fed’s cheering on of the housing bubble, etc. Greed and chicanery have been around for ages, and they played some part in the crisis, but government policies and agencies were the major causes. You can pretend otherwise, but that won’t change history.

Dec. 14 2012 02:19 PM

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