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Wall Street

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Steele to DC Wednesday

Friday, August 27, 2010

Bob Steele, Michael Bloomberg's new deputy mayor for economic development is going to Washington later this week, wearing a slightly different hat than he does around City Hall.

The Financial Crisis Inquiry Commission announced the list of witnesses for their hearings, starting Wednesday. Steele, who was head of Wachovia, is testifying on day one.

Here's the announcement:

(Washington, DC) - Today the Financial Crisis Inquiry Commission (FCIC) announced the Commission's next public hearing titled "Too Big to Fail: Expectations and Impact of Extraordinary Government Intervention and the role of Systemic Risk in the Financial Crisis."

When: Wednesday, September 1, 2010 @ 9am ET
Thursday, September 2, 2010 @ 9am ET
Where: Dirksen Senate Office Building, Room 538, Washington DC

Day One - Wednesday, September 1
Session 1: Wachovia Corporation

Scott G. Alvarez, General Counsel
Board of Governors of the Federal Reserve System

John H. Corston, Acting Deputy Director, Division of Supervision and Consumer Protection
U.S. Federal Deposit Insurance Corporation

Robert K. Steel, former President and Chief Executive Officer
Wachovia Corporation

Session 2: Lehman Brothers

Thomas C. Baxter, Jr.,General Counsel and Executive Vice President
Federal Reserve Bank of New York

Richard S. "Dick" Fuld, Jr.,Former Chairman and Chief Executive Officer
Lehman Brothers

Harvey R. Miller, Business Finance & Restructuring Partner
Weil, Gotshal & Manges, LLP

Barry L. Zubrow,Chief Risk Officer
JPMorgan Chase & Co.

Day Two - Thursday, September 2
Session 1: The Federal Reserve

Ben S. Bernanke, Chairman
Board of Governors of the Federal Reserve System

Session 2: Federal Deposit Insurance Corporation

Sheila C. Bair, Chairman
U.S. Federal Deposit Insurance Corporation

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The Leonard Lopate Show

Is Google Over?

Monday, August 02, 2010

Michael V. Copeland, senior writer, and Stephanie Mehta, executive editor, of Fortune magazine discuss Google’s transition from a growth company to a cash cow, and how that’s affecting its performance on Wall Street. Google’s projected earnings growth of 18% is a third of what Google averaged over the past five years, which isn’t impressive for technology companies. Their story “Is Google Over” appears in the August 16 issue of Fortune magazine.

Michael V. Copeland, senior writer, and Stephanie Mehta, executive editor, of Fortune magazine discuss Google’s transition from a growth company to a cash cow, and how that’s affecting its performance on Wall Street. Google’s projected earnings growth of 18% is a third of what Google averaged over the past five years, which isn’t impressive for technology companies. They’re story “Is Google Over” appears in the August 16 issue of Fortune magazine.

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The Leonard Lopate Show

Jeffrey Toobin on Chuck Schumer

Thursday, July 29, 2010

New York senator Chuck Schumer, who sits on both the Finance Committee and the Banking Committee, has a reputation as a principal voice for Wall Street in Washington. New Yorker staff writer Jeffrey Toobin discusses why Mr. Schumer was nearly silent this summer, when his colleagues passed the most comprehensive overhaul of securities legislation in more than a generation. Jeffrey Toobin’s article, “The Senator and the Street” appears in the August 2nd issue of The New Yorker.

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The Leonard Lopate Show

The Zeroes

Wednesday, July 07, 2010

Randall Lane discusses unwittingly becoming a Wall Street power broker during the decade he calls the Zeroes, when he started a small magazine company that put him near the center of the biggest boom in history. He book The Zeroes: My Misadventures in the Decade Wall Street Went Insane is an insider's memoir of a gilded era on Wall Street—and its demise.

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WQXR News

After Financial Reform, G-20 Begins

Friday, June 25, 2010

Lawmakers reach an agreement on financial reform legislation.

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The Takeaway

Greek Tragedies: When Markets Can't Find a Price

Friday, May 07, 2010

The sub-prime mortgage crash of two years ago was not about mortgages and it was not about complexity of derivatives and the cross-betting lunacy of credit default swap insurance voodoo. It was about the simplest thing in economics: price. If you can’t find a price, there is no sale, no market, no value, no money. In that instance, everything seizes up and you see what happened yesterday, for a while, on Wall Street.

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WQXR News

Goldman Sachs Execs Testify in Fraud Case

Tuesday, April 27, 2010

CEO Lloyd Blankfein is among those testifying today about fraud charges before a Senate panel.

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WQXR News

SEC Fraud Suit May Tarnish Goldman's Rep

Monday, April 19, 2010

Goldman Sachs' civil fraud suit could mean plenty of trouble down the road for the big bank.

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WNYC News

Banks Disagree Over Plan On Principal Reduction

Wednesday, April 14, 2010

At least one big bank is expressing reservations about the Obama administration's plan to address rising foreclosures. Officials have been encouraging banks to go beyond what they've done so farand reduce the principal on home loans that are "underwater." David Lowman of JPMorgan Chase told ...

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The Leonard Lopate Show

The End of Wall Street

Friday, April 09, 2010

Roger Lowenstein tells the full story of the end of Wall Street as we knew it. In The End of Wall Street he weaves together a financial, economic, and sociological thriller. He explains the origins of the crisis and looks at the lessons that should be learned from the ...

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The Leonard Lopate Show

Acting Out

Friday, April 09, 2010

On today’s show, financial journalist Roger Lowenstein gives us a blow-by-blow account of the biggest financial crash since the Great Depression. Then, a look at “method acting” and Lee Strasberg… we’ll talk about his legacy with his widow and with acting teacher Lola Cohen. Also, Robocop director Paul Verhoeven (who ...

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Studio 360

Celluloid Speculation

Friday, April 09, 2010

Hollywood is no stranger to stories of Wall Street: from references to the Depression in the classic Gold Diggers, to botched commodities trading in 1983's Trading Places, to Oliver Stone's Wall Street 2, due out later this year.  Now it seems investors are ...

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The Leonard Lopate Show

The Devil’s Casino

Wednesday, April 07, 2010

Vicky Ward tells the story of the four close friends who re-created Lehman Brothers—setting out to prove that ambitious and savvy men with no financial training could take on the Ivy-League-educated white shoe bankers on Wall Street. In The Devil’s Casino: Friendship, Betrayal, and the High Stakes Games Played ...

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The Leonard Lopate Show

Among Friends

Wednesday, April 07, 2010

On today's show we’ll get a glimpse into how Lehman Brothers’ was undone from within. Then, Norris Church Mailer talks about her complicated 30-plus-year marriage to Norman Mailer. Also, Henri Cartier-Bresson was one of the most influential photographers of the 20th century, We’ll talk to his widow and to the ...

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The Leonard Lopate Show

13 Bankers

Tuesday, March 30, 2010

Simon Johnson, professor at MIT’s Sloan School of Management and a senior fellow of the Peterson Institute for International Economics, gives an account of recent U.S. financial history and the showdowns between American democracy and Big Finance. In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, ...

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The Leonard Lopate Show

Rich Histories

Tuesday, March 30, 2010

On today’s show guest host Mike Pesca fills in for Leonard Lopate. He’ll speak with MIT professor Simon Johnson about U.S. financial history and how the six megabanks still standing control more than 60 percent of the country’s GDP! Then, Josh Axelrad explains why he left Wall Street for a ...

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The Leonard Lopate Show

The Big Short

Tuesday, March 16, 2010

Michael Lewis gives an account of how the U.S. economy was driven over the cliff. His latest book The Big Short: Inside the Doomsday Machine, is an insider’s view of the people behind the financial collapse—the villains, a few heroes, and those who look very foolish: high government officials, ...

Comments [13]

The Leonard Lopate Show

Wheeling and Dealing

Tuesday, March 16, 2010

Michael Lewis offers a post mortem on how the global financial system crashed and burned—and who is to blame. Then, Jeff Daniels and Janet McTeer discuss starring in the latest incarnation of Yasmina Reza’s play “God of Carnage.” Also, Helen Simonson talks about her debut novel, Major Pettigrew’s Last Stand—it’s ...

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The Leonard Lopate Show

No One Would Listen

Tuesday, March 09, 2010

Harry Markopolos talks about his years spent investigating Bernie Madoff and his $65 billion Ponzi scheme. While much has been written about Madoff's scam, few know how Markopolos and his team uncovered it years before it unraveled. In No One Would Listen: A True Financial Thriller, Markopolos details how ...

Comments [28]

The Brian Lehrer Show

Washington Check-In with Mara Liasson

Wednesday, March 03, 2010

National political correspondent for NPR Mara Liasson checks in on health care, banking reform and the latest from Washington.

Comments [27]