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Financial Crisis

Specials

Should We Break Up The Big Banks?

Saturday, November 23, 2013

To prevent the collapse of the global financial system in 2008, Treasury committed 245 billion in taxpayer dollars to stabilize America’s banking institutions. Today, banks that were once “too big to fail” have only grown bigger, with JP Morgan Chase, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs holding assets equal to over 50% of the U.S. economy. Were size and complexity at the root of the financial crisis, or do calls to break up the big banks ignore real benefits that only economies of scale can pass on to customers and investors?

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On The Media

We Didn't Really Dodge a Bullet

Friday, October 18, 2013

This round of budget clashes are over (for now), but how should we assess the damage done by these regular crises? Bob talks with Reuters financial blogger Felix Salmon who says that the real story of these political battles is the slow motion, irreversible damage they're doing to America's financial standing. 

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WNYC News

Mayor Says Federal Government Falls Down on Jobs

Wednesday, September 12, 2012

Mayor Michael Bloomberg said cities have had to take economic matters into their own hands because the federal government hasn’t done enough to spur job creation.

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The Takeaway

Oscar-Winner Charles Ferguson on 'Predator Nation'

Tuesday, May 29, 2012

Just over a year after the release of his Oscar-winning documentary “Inside Job,” Charles Ferguson returns to the topic of the 2008 financial crisis with his latest book “Predator Nation.”

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The Takeaway

AIG Plans Suit Against Hedge Funds Over Mortgage Securities

Thursday, April 28, 2011

In 2008, the government offered an $85 billion bailout to American International Group Inc., one of the world's largest insurance companies, in order to prevent its collapse. When AIG accepted the bailout, it waived its right to sue banks over most of the mortgage securities that it had acquired. But, it did not give up its right to pursue legal action regarding $40 billion of mortgage bonds it purchased directly from banks. In an exclusive story for The New York Times, finance reporter Louise Story explains how AIG is now going after hedge funds and banks to try to recover billions in losses related to mortgage securities that caused the financial collapse in 2008. 

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The Takeaway

Who Caused the Financial Crisis and When Will They Pay?

Thursday, April 14, 2011

During the savings and loan crisis of the 1980s, 800 bank officials ended up in jail over misconduct that led to the crisis. So why hasn’t a single bank executive been charged with any crime in the 2008 financial crisis? Louise Story, Wall Street and Finance Reporter for The New York Times lays out the lapses in regulation that led up to the crisis and also may now be responsible for the lack of evidence to try bank executives. Why did the FBI, the Justice Department and the SEC all chose to scale back their investigations into questionable banking practices?

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It's A Free Country ®

Fannie and Freddie - Not Their Fault?

Thursday, February 17, 2011

Ultimately, because they were a profit making organization they decided to try to regain market share, drive up profits, drive up compensation. They joined the party late and unfortunately in the late stages of the crisis they bought a significant amount of subprime securities. But even then they peaked, they never bought more than 28 percent of the subprime mortgage backed securities on the market. So they helped inflate the housing boom, they added helium to the balloon, but they were not the primary drivers.

Phil Angelides Financial Crisis Inquiry Commission chairman, on The Brian Lehrer Show.

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The Brian Lehrer Show

Financial Crisis Commission: What We've Learned

Thursday, January 27, 2011

Charles Herman, WNYC business and economics editor, has been monitoring the press conference and report from the Financial Crisis Inquiry Commission this morning - he offers his highlights.

→ Read A Primer on the Findings, Watch Live Video of the Panel, And Add Your Thoughts at It's A Free Country

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The Takeaway

Financial Crisis Commission Blames Wall Street

Thursday, January 27, 2011

Who or what was responsible for the worst economic crisis since the 1920s? And could it have been prevented? That is what the Financial Crisis Inquiry Commission set to find out when they interviewed over 700 people. Today they release their 576 page report. Michael Hudson, reporter for the Center for Public Integrity and the author of "The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America and Spawned a Global Crisis" says Wall Street greed and lack of government regulation were the biggest causes for the crisis.

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The Brian Lehrer Show

Financial Comission Reports Back

Thursday, January 27, 2011

Joe NoceraNew York Times business columnist and author of the Executive Suite blog, previews the Financial Crisis Inquiry Commission press conference taking place this morning.

→ Read A Primer on the Findings, Watch Live Video of the Panel, And Add Your Thoughts at It's A Free Country

The Takeaway

Bank of America Settles with Freddie and Fannie Over Mortgage Dispute

Tuesday, January 04, 2011

Bank of America announced a $2.8 billion settlement with Freddie Mac and Fannie Mae on Monday. The American-owned firms demanded that Bank of America buy back mortgages whose quality was misrepresented by Countrywide, which is owned by Bank of America. Louise Story, Wall Street and finance reporter for The New York Times analyzes the implications of the settlement.

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The Takeaway

Top of the Hour: Financial Insecurity in Europe, Morning Headlines

Tuesday, December 07, 2010

The European Union might see some familiar trends within its region as they tackle the debt crisis that is forcing painful cuts and austerity measures. Why? Because along with the U.S., the E.U. helped bail Latin Ammerica out of a similar crisis in the 1980s. 

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The Takeaway

Fed Reveals Billions in Bailout Loans during Financial Crisis

Thursday, December 02, 2010

Most of the companies who received money from the TARP bailout funds have been public knowledge ... but yesterday, the Fed revealed that a slate of prominent American companies used billions of dollars in bailout loans during the height of the financial crisis, including such corporate pillars as GE, Verizon and McDonalds, to name a few.  We speak with New York Times Wall Street and finance reporter Louise Story for the program's details. 

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The Brian Lehrer Show

Maria Bartiromo on Covering the Financial Meltdown

Friday, November 26, 2010

Maria BartiromoCNBC anchor, discusses her new book The Weekend That Changed Wall Street: An Eyewitness Accountand what's it's been like covering the financial meltdown.

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The Brian Lehrer Show

European Financial Crisis

Monday, November 22, 2010

Matthew Bishop, US business editor of The Economist and author of The Road from Ruin: How to Revive Capitalism and Put America Back on Top, talks about the fiscal crises in Greece and Ireland and what other countries can learn from them.

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The Takeaway

Many Irish Unhappy with Prospect of EU Bailout

Friday, November 19, 2010

Until several years ago an economic success story, Ireland has been told that it should accept financial help, from Britain and the rest of the European Union, and perhaps from the International Monetary Fund as well. With a financial bailout would come some loss of control, and politicians in the current Irish government say they will resist raising their famously-low corporate tax rates, which many credit with attracting foreign companies to Ireland. The country's long been fiercely independent — it's arguably part of Ireland's national identity. Many Irish people are heartsick over the country's financial woes and the loss of sovereignty a bailout would entail.

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The Brian Lehrer Show

How Is Your State Doing?

Wednesday, October 06, 2010

Lori Grange, deputy director of the Pew Center on the States, talks about the new Pew report on how residents view their state's severe budget challenges. 

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The Brian Lehrer Show

Why the Economy Crashed

Monday, September 13, 2010

Phil Angelides, Financial Crisis Inquiry Commission chairman, talks about the testimonies the commission is gathering from experts, culprits, and the victims of the economic meltdown.

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The Brian Lehrer Show

Maria Bartiromo on Covering the Financial Meltdown

Tuesday, September 07, 2010

Maria Bartiromo, CNBC anchor, discusses her new book The Weekend That Changed Wall Street: An Eyewitness Account  and what's it's been like covering the financial meltdown.

→ Event:  Maria Bartiromo will be signing her new book tomorrow, September 8th, at the Wall Street Borders Book Store.  

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The Takeaway

Global Perspectives on Economic Recovery

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.

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