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?
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.
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.”
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.
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?
Thursday, February 17, 2011
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.
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.
Thursday, January 27, 2011
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.
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.
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.
Friday, November 26, 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.
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.
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.
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.
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.