Wednesday, January 19, 2011
The Goldman Sachs partnership is the most exclusive club on Wall Street. Until now, little was known about the partnership, an elite group of the bank’s senior executives that has cashed in on billions since the it was formed in 1999. The New York Times reveals the secret life of Wall Street’s highest-paid employees — and how these executives are set to benefit from stock options they received during the bleakest days of the banking crisis.
Tuesday, November 09, 2010
By Ilya Marritz
The Bureau of Labor Statistics reported Tuesday that between the spring of 2009 and the spring of 2010, the average weekly wage in Manhattan rose 12 percent. In comparison, across the nation the average weekly wage increased less than one percent. The figures include end-of-year bonuses, which big banks typically pay out in the first part of the calendar year.
Tuesday, October 12, 2010
Some home owners are putting a halt to their foreclosures by pointing to flaws in the bank's paperwork. It's even leading to some backs putting a moratorium on all their foreclosure proceedings. We're asking about the times you stood up to institutions like this. When have you faced off with your bank, your phone company, your cable provider? What happened?
Wednesday, October 06, 2010
Dana Stevens, film critic for Slate.com and co-host of their Culture Gabfest, discusses the film "Wall Street: Money Never Sleeps," the sequel to the "greed is good" original. Also, Joe Nocera, New York Times business columnist and author of their Executive Suite blog, offers his take on "Wall Street," the movie vs. Wall Street, the reality.
Friday, October 01, 2010
JP Morgan Chase has suspended the legal proceedings around 50,000 foreclosures because the documents involved may have been processed incorrectly.
Overwhelmed by the housing crisis, mortgage companies hired employees to process foreclosure documents as quickly as possible, without ever reading, reviewing or verifying the cases before them. The process is called "robo-signing," and it accounts for an alarming number of seized homes. By some reports, these hired clerks were approving ten thousand foreclosures a month—some of them in error.
Monday, September 06, 2010
In the last two years, the world has been shaken by the financial crisis that has affected all corners of the globe. Hugh Pym, correspondent for the BBC, discusses the findings of a study that looked at global recovery in 26 countries. The study focused particularly on how we differ when it comes to budget deficits. The poll asked how citizens felt about their government taking steps "in current economic conditions" to reduce the government's deficit and debt.
The End of Combat Operations in Iraq; Orchestras Across America Face Deep Cuts; One in Six Americans On Federal Aid; The History and Purpose of Scandals
Tuesday, August 31, 2010
The end of combat operations in Iraq, where do we go from here?; life in the ghost town of Pincher, Okla.; the Ptarmigan as a bellwether of climate change; the Detroit symphony orchestra faces deep cuts; one in six Americans on federal aid; the U.S. Open begins; listener opinions on Glenn Beck's "Restoring Honor" rally; Iraq veterans talk aobut what they achieved; a look at this year's only new bank; the social and cultural need for scandal.
Wednesday, August 18, 2010
Michael Bronner talks about his interview with Bradley Birkenfeld, the UBS whistleblower who was responsible for exposing the biggest tax fraud case in United States history. His five-part series for the Global Post, "Telling Swiss Secrets: A Banker's Betrayal," gives the play-by-play of the lead up to the exchange of information, exposes information about Birkenfeld's plea bargain, and explains why Birkenfeld, despite helping the government to get over $780 million from UBS, is still sitting in jail today.
Friday, July 09, 2010
We'll be talking next week about efforts to recreate banking in a post-crisis era. One new bank in Brooklyn is trying a model with no branches and no fees. Help us with a new model! What do you hate about your bank that you would like to see done differently?
Monday, June 21, 2010
While Congress rushes to complete a sweeping financial reform bill later this week, the banking industry is pulling out all the stops for a last ditch effort to undercut the Volcker Rule—a provision that allows banks to retain some of their most risky businesses. The New York Times' finance reporter Louise Story explains who wins and who loses if the Volcker rule were to be put in place.
Wednesday, March 10, 2010
- FINANCIAL TAKEOUT: Bank of America offered an unexpected olive branch to its millions of debit card users when they announced a plan to do away with all debit card overdraft fees. But is this public relations gambit enough to improve the bank's public image? We talk with Louise Story, finance reporter for our partner The New York Times, who brings us details from an article in today's paper.
- SPORTS TAKEOUT: The Big East tournament holds many of the major players in college basketball, and yesterday St. John's beat UCONN handily. Ibrahim Abdul-Matin joins us to take a closer look at the Big East.
Tuesday, February 23, 2010
Buyer beware: your bank may be trying to protect its revenue stream in the face of increased government scrutiny by adding unnecessary fees to financial instruments like your debit card. A report in today's New York Times says banks are beginning to aggressively market products like automatic overdraft protection fees. Without these fees, banks stand to lose some $20 billion annually.
Friday, January 22, 2010
- MONEY TAKEOUT: New York Times finance reporter Louise Story parses President Obama's newest proposal to regulate U.S. banks.
- SPORTS TAKEOUT: Takeaway Sports Contributor Ibrahim Abdul-Matin previews the big match-ups this weekend as the Saints, Vikings, Jets and Colts battle for a spot in the Superbowl.
Tuesday, January 19, 2010
Citigroup announced its earnings this morning, ending a three-quarter profit streak with a $7.6 billion loss during the final three months of 2009. This as consumers still struggled to repay loans and the bank managed to repay its government bailout money.
Friday, January 15, 2010
As the Financial Crisis Inquiry Commission continues hearings on Capitol Hill this week, so does the debate over regulation. The head of the Congressional Oversight Panel for the Bank Bailout, Elizabeth Warren, called for sweeping regulation on the show yesterday. Today, we a get a response from the industry.