Thursday, January 03, 2013
More than four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks— the sort that could again take down the economy. Jesse Eisinger's investigation, written with Frank Partnoy, is called “What’s Inside America’s Banks” and appears in the January/February issue of The Atlantic.
Tuesday, March 08, 2011
Debit card "swipe fees" were one way that banks made billions of dollars a year. These fees were paid by retailers every time you used your debit card. In the aftermath of the financial crisis, Congress cut these fees significantly, to the great relief of merchants across the country. The Fed is now facing an April deadline to write the rules for the current lower fees, and banks are waging a war to try to reverse these cuts. Louise Story, Wall Street and finance reporter for The New York Times, explains how new rules could impact you as a consumer.
Monday, December 13, 2010
Even as lawmakers implement the fiscal reform passed by Congress, a tiny handful of banks exert the lion's share of control over the lucrative derivatives market — and they do so both secretly and exclusively. As consumers, we pay for derivatives every day when we buy nearly anything, from food to airplane tickets to heat for our homes. A little regulation and transparency could reduce giant fees paid to banks, and put billions of dollars back into the economy. So why does the running of these markets remain so securely hidden?
This Week's Agenda: A Currency Change in China and Estonia; A Look at Our Economy; and A Visit From Medvedev
Monday, June 21, 2010
It's Monday, which means it's time to take a look at what's ahead this week in the agenda with the help of Marcus Mabry, associate national editor for The New York Times, and Charlie Herman, The Takeaway and WNYC's economics editor.
Friday, May 21, 2010
Newsweek columnist Dan Gross on the stock market's response to the financial regulations bill; headlines.
Tuesday, May 11, 2010
Congress will face public pressure this week as it tackles a series of hot-button issues. In the House, the Financial Services Committee has called for a hearing on the "flash crash" that took place last Thursday when the Dow Jones Industrial Average fell nearly 1,000 points in just 30 minutes. And Senate Majority Leader Harry Reid is hoping to get the financial reform bill complete by the end of the week.
Wednesday, May 05, 2010
- Financial Takeouts: Later today the Financial Crisis Inquiry Commission will call five former top Bear executives to testify about the investment bank’s role in the shadow banking system. The New York Times Wall Street and finance reporter, Louise Story joins the Takeaway to explain the common, and legal ways that banks use this system to shrink their questionable balance sheets.
- UK Elections: Last minute campaigning in Britain heats up before tomorrow's elections. To explain the British electoral system, we're joined by Rob Watson.
Monday, April 26, 2010
The Senate is scheduled to vote today on whether to begin work on the finance regulatory overhaul bill, which President Obama promoted in New York last week. If Democrats have their way, the Senate will proceed to a debate on the bill, which is sponsored by Sen. Chris Dodd. Otherwise, the bill, S.3217, will stall and require more negotiations.
Monday, April 26, 2010
We take a look at what's ahead this week, with Marcus Mabry, associate national editor of The New York Times, and Latoya Peterson, editor of the blog Racialicious.
Sunday, April 25, 2010
Every week, our own Todd Zwillich walks the halls of power in Washington D.C. and brings back an interview for our podcast, "Power Players." This week, Sen. John Thune (R-SD) talks about the chances for bipartisan financial reform.
Wednesday, April 21, 2010
The financial regulatory reform bill is moving quickly through Congress this week, having already passed the House. But Takeaway Washington correspondent Todd Zwillich looks at one of biggest flash points as the Senate debates the bill: Derivatives. It's an industry worth about $500-600 trillion and has remained largely free of regulation up to know. Todd explains how Congress is trying to bring sunlight to a typically murky practice.
Tuesday, March 30, 2010
At companies deemed too big to fail, there's a delicate balance to be found between paying enough to retain talented staff and soothing public anger about big taxpayer bailouts. "Pay Czar" Kenneth Feinberg (he dislikes the term, but it's stuck) believes he’s getting the balance right.
Tuesday, March 16, 2010
- SPORTS TAKEOUT: Sports contributor, Ibrahim Abdul-Matin, talks about Coolidge High School's new head coach for their boy's varsity football team, Natalie Randolph. She is believed to be the only female in the U.S. coaching high school football.
- RESPONSES TAKEOUT: We hear your responses to recent stories from Haiti to breast-feeding.