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Banking

The Leonard Lopate Show

Three Central Bankers and a World on Fire

Thursday, April 04, 2013

Economics reporter Neil Irwin discusses how, how the leaders of the world’s three most important central banks—Ben Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and Jean-Claude Trichet of the European Central Bank—managed the global economic crisis. He tells of the birth of central banking in 17th-century Sweden, and traces how banks and bankers came to exercise extraordinary power over our collective fate. In his new book, The Alchemists: Three Central Bankers and a World on Fire, Irwin gives an account of the most intense exercise in economic crisis management the world has ever seen.

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Listen to Lucy

Bosses fail the 10-year-old test

Monday, January 14, 2013

Bosses fail the 10-year-old test

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Annotations: The NEH Preservation Project

Rex Stout Writes Detective Stories, Makes Enemies of the FBI

Monday, January 07, 2013

WNYC

Rex Stout, the creator of Nero Wolfe and Archie Goodwin, addresses the audience at this 1966 Books and Authors Luncheon as if they were his "Committee on Grievances."

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WNYC News

Analysis: What a Money-Laundering Settlement Means for HSBC

Monday, December 10, 2012

Federal and New York authorities are expected to announce a record $1.9 billion settlement with HSBC over money-laundering charges on Tuesday, sending a message that banks can't skirt U.S. sanctions law while doing business in the United States.

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WNYC News

Could Changes at the SEC Means Changes for the Financial Industry?

Tuesday, November 27, 2012

A change at the top of the Securities and Exchange Commission could mean new changes for the financial industry.

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Listen to Lucy

New workers want the same things we did

Tuesday, October 30, 2012

New workers want the same things we did

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New Tech City

Would You Do Your Banking on Facebook? Pushing Your Tech Comfort Zone

Tuesday, October 23, 2012

People I know who work on Wall Street often have two phones (one for personal, one for professional use) and limited access on their work computers to any website that hasn’t been completely vetted.  Security and privacy are paramount in the financial industries for obvious reasons, including regulatory.

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Money Talking

Money Talking: What Pandit's Exit at Citigroup Says About the Future of Banks

Friday, October 19, 2012

The sudden departure of Citigroup CEO Vikram Pandit has sparked a conversation about where the bank is headed under new leadership and what it says about the so-called "too big to fail" banking behemoths.

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The Leonard Lopate Show

Backstory: What Happened at Standard Chartered

Thursday, August 16, 2012

Earlier this week, the British bank Standard Chartered announced that it would pay $340 million in civil penalties to a New York State regulator to end an inquiry into whether the bank had processed $250 billion in transactions with Iran. On today’s Backstory, Thomas Easton, New York Finance and Economics Correspondent for the Economist, explains what happened at Standard Chartered, why other agencies are now investigating what happened, and what this and recent incidents tell us about bank regulation today.

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The Takeaway

Regulators and British Bank Reach Settlement Over Money Laundering

Wednesday, August 15, 2012

Standard Chartered has agreed to pay $340 million — a paltry sum next to the total figure linked to the banks Iranian clients. Jessica Silver-Greenberg, a reporter for The New York Times, explains the significance of the settlement.

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The Takeaway

Why More Banking Crises Are on the Way

Wednesday, August 08, 2012

Jim Rogers, an American investor and chairman of Rogers Holdings and Beeland Interest, has seen banking scandals in 2002. And in 2008. And he says the cyclical pattern of economic downturns will almost definitely produce one in the next year or two.

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The Takeaway

A Second Look at the Standard Chartered Accusations

Wednesday, August 08, 2012

Yesterday, New York's top banking regulator accused the British bank Standard Chartered of secretly helping the Iranian government to launder billions of dollars. Now other authorities investigating the bank are questioning just how expansive Standard Chartered's mistakes were.

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The Leonard Lopate Show

The TARP Bailout

Monday, July 30, 2012

Neil Barofsky was appointed to be the Special Inspector General in charge of Troubled Asset Relief Program (TARP), and he describes the ways of Washington and the mishandling of the $700 billion TARP bailout fund. In Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street, he reveals the ways he thinks government officials bent over backward to serve the interests of Wall Street firms at the expense of the broader public—and at the expense of effective financial reform.

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WNYC News

New York Metro Area Loses 20 Bank Branches: Report

Friday, July 27, 2012

A new report shows the New York metro area has 20 fewer bank branches today than it did a year ago, despite a net gain of five branches in the city.

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The Leonard Lopate Show

Backstory: Understanding Libor

Thursday, July 26, 2012

Treasury Secretary Timothy Geithner told Congress yesterday that he warned UK officials about problems with the LIBOR interbank lending rate as early as four years ago. ProPublica’s Cora Currier joins us to explain the ongoing LIBOR scandal.

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WNYC News

Citigroup's Ex-CEO Says Big Banks Should Break Up

Wednesday, July 25, 2012

Sandy Weill built Citigroup into a mega-bank. Now, he says mega-banks should be broken up.

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WNYC News

Banks Could Owe $35B Over Alleged LIBOR Rate Rigging: Report

Monday, July 23, 2012

Treasury Secretary Timothy Geithner will testify before Congress this week. He’s expected to be asked about the LIBOR scandal. It comes at a time when a new report indicates banks from around the globe, including some U.S.-based banks, could be on the hook for billions of dollars over the LIBOR rate rigging.

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The Leonard Lopate Show

Backstory: What Happened at HSBC

Thursday, July 19, 2012

This week the Senate held hearings on HSBC’s failure to halt illegal foreign transactions involving Mexican drug traffickers and Middle Eastern banks with suspected ties to terrorists. Tom Easton, the New York finance and economics correspondent for The Economist, talks about why the bank was overwhelmed by compliance demands of so many different countries—and why its competitors may be as well.

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WNYC News

Explainer: What Is LIBOR?

Tuesday, July 17, 2012

The recent admission by Barclays Bank that it manipulated a key interest rate, the LIBOR or London Interbank Offered Rate, has raised questions about how state and local government finances have been affected in the U.S.

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The Takeaway

Are Banks Too Big to Prosecute?

Monday, July 16, 2012

The Justice Department is said to be preparing cases against financial institutions in response to the Libor scandal, but Barclays has signed a non-prosecution agreement and is paying a penalty of $450 million – not much for a company with over $50 billion in revenue last year. 

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