Louise Story

New York Times

Louise Story appears in the following:

Former Auto Czar Steven Rattner Sued for Pension Fraud

Friday, November 19, 2010

New York Attorney General and Governor-elect Andrew Cuomo has brought a civil suit against former "Car Czar" Steven Rattner, accusing him of fraud in an attempt to win hundreds of millions in investments from the New York State pension system. Cuomo says he's continuing an investigation into possible criminal activity by Rattner, who has just agreed to pay $6.2 million to the U.S. Securities and Exchange Commission to settle a separate civil lawsuit.


GM Stock Price Goes Public Today

Thursday, November 18, 2010

After unexpectedly strong interest from potential investors made itself apparent, formerly-bankrupt carmaker GM raised its initial price on last night's stock offering to $33/share. This morning, the auto giant helped start off the NYSE with a Comaro's horn. Selling at $33/share should potentially net GM more than $23 billion, and allow it to pay back half of the money still owed taxpayers and the Treasury Department after last year's automaker bailout.


Ireland and Portugal Could Get Bailout From EU

Tuesday, November 16, 2010

After Greece's financial bailout by the European Union earlier this year, Ireland and Portugal could be next. Why? In part, because the European Union's economically stronger countries are sometimes obliged to take care of the economically weak, so a feared economic downturn doesn't spread. But when countries like Ireland and Portugal ask for help, there's an immediate problem: Their own interests don't necessarily align with the interests of the countries bailing them out.  

Louise Story, Wall Street and finance reporter for The New York Times, has the latest in this potential economic rescue.


British Government to Keep Closer Tabs on Investment Banking Firms

Friday, November 12, 2010

Yesterday, Britain’s government announced a plan to more closely monitor its financial services firms, including large investment banking companies. Their financial watchdog arm, called the Financial Services Authority, is going to start recording the cell phone conversations of investment bankers to try and cut down on fraud and insider trading.


G20: America and China Face Off, Economically

Thursday, November 11, 2010

The G20 Summit started earlier today in Seoul, South Korea, and high among the story lines we're watching is the economic skirmishing between China and the U.S. The U.S. has long been critical of how China has dealt with its currency, accusing China's central banks with keeping the RMB artificially low. China and other countries, meanwhile, are not happy with some of the White House's fiscal policies, most recently the Fed's plan to pump $600 billion back into the sluggish U.S. economy.


Banking Reform Could Help Reduce National Debt

Wednesday, November 10, 2010

Will the cost of our national debt drop soon as a result of the recently passed banking reform? And will that change the political debate in Washington over raising our debt ceiling?

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One More Time Around on Financial Reform?

Friday, November 05, 2010

Now that the midterm elections are over, the shakeup in Congressional committees are about to begin. Republicans have made it clear that when they take control of the House this January, they'll be targeting several key pieces of President Obama's agenda to roll back. A number of Republicans ran on repealing the president's health care reform legislation, but far fewer of them have talked about their desire to repeal the sweeping financial regulation bill passed earlier this year. Louise Story, business and finance reporter for The New York Times, explains what this means for President Obama and consumers.


Quantitative Easing: The Fed's Latest Attempt to Improve The Economy

Thursday, November 04, 2010

The Federal Reserve Bank announced Wednesday that it will once again make a large purchase of Treasury Bonds — $600 billlion worth — as part of a Quantitative Easing to help the struggling economy. The response of many to this news: "Quantitative what?" Louise Story, Wall Street and Finance Reporter for our partner The New York Times, joins the show to break it down.

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Banks Feeling the Heat on Foreclosure Problems

Friday, October 15, 2010

Shares of financial companies dropped yesterday on concerns about how reviews of home-foreclosure practices will affect their balance sheets. Louise Story, Wall Street and finance reporter for our partner, The New York Times, has been looking at analyses of how hard the blow may be for banks, and how long it might last.

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September Jobs Report: Not Quite as Bad?

Friday, October 08, 2010

The September jobs report comes out today; this month's report carries some special weight. For politicians, it's the last unemployment report Americans will hear about before the mid-term elections. For the Federal Reserve, it will affect policy when the it meets in November; many expect a loosening of monetary policy based on how the economy is faring.

Overall though, economists are predicting the September report will not show too much change in unemployment figures. Businesses are still slow to hire, but layoffs are not rising. There may not be much in the way of job growth, and many, many Americans are still unemployed, but fewer people are losing their jobs.


US Hints at Frustration With Chinese Monetary Policy

Thursday, October 07, 2010

New York Times finance reporter Louise Story breaks down Timothy Geithner's speech on monetary policy at the Brookings Institution and explains a new House bill that could allow trade sanctions on China based on the artificially low value of the Chinese RMB.


Should the Government Have Earned More from TARP?

Tuesday, October 05, 2010

Under the unpopular bank bailout program, the Troubled Asset Relief Program, better known as TARP, the government invested money in struggling banks, and eventually got something in return. But the program's end got Louise Story, Wall Street and finance reporter for our partner The New York Times, thinking about whether the big banks got a better deal than the government did, when everything was said and done.


What Defines 'Middle Class?'

Tuesday, September 28, 2010

Is it income or material possessions? Is it the ability to have a parent raise their children as opposed to a nanny or daycare? Is it being a homeowner or owning your vehicle? Is it a state of mind? These are some of your answers to the question we posed yesterday: What signifies middle class to you?


Wall Street: Money Never Sleeps ... or Does It?

Friday, September 24, 2010

Today, one of the greatest screen villains of the past quarter century returns in “Wall Street: Money Never Sleeps.”

This time, Gordon Gekko, again played by Michael Douglas, returns to the investment banking world just in time to see it crash and burn ... and of course, in time to benefit from it crashing and burning.

But while some fans of Gekko and "Wall Street" are thrilled with the prospect of a sequel, we’re more interested in knowing whether the movie is good, the facts accurate, and what we might learn from it.

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Movie Date: Wall Street: Money Never Sleeps

Thursday, September 23, 2010


Rafer and Kristen (and special guest New York Times Wall Street and finance reporter Louise Story) discuss "Wall Street: Money Never Sleeps."

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Recession is Officially Over, Small Businesses Still Struggle

Tuesday, September 21, 2010

Stocks surged on Monday, following an announcement from the National Bureau for Economic Research that the recession has been over since June of 2009. 

You can be forgiven if this comes as news to you — it's come as news to many people, not least the small business owners who've been struggling to survive in an economy where credit is tight, health care costs are high, and consumers and investors remain skittish.


Bleak Forecast for New US Poverty Rate

Thursday, September 16, 2010

The Census Bureau will release its annual Income, Poverty and Health Insurance Coverage report today and the expectations are grim.


Dick Fuld Testifies Before the Financial Crisis Inquiry Commission

Thursday, September 02, 2010

Former Lehman Brothers chief executive Richard Fuld testified before the Financial Crisis Inquiry Commission on Wednesday. He described his frustration that his firm did not get the help that other firms later got from federal regulators. Louise Story, Wall Street and finance reporter for The New York Times, explains what we're learning from the FCIC, which is tasked with finding out what caused the financial and economic crisis in 2008.


Income Inequality May Have Big Costs For Economy, Country

Monday, August 30, 2010

A small group of economists are trying to study whether income inequality may have contributed to the economic collapse. The income gap in the years leading up to the recent recession, which is often compared to the Great Depression, has a striking resemblance to the income equality in 1928, when the top 10 percent of earners received nearly half of the total income. Finance reporter Louise Story wrote about this theory for The New York Times earlier in August, and we spoke with her about the income gap on The Takeaway last week.

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Does Income Inequality Lead to Financial Crisis?

Friday, August 27, 2010

There's long been a growing gap between the rich and the poor in the United States, but some believe that disparity could actually cause more harm than previously thought. A group of economists, sociologists, and legal scholars are saying there may be a correlation between income inequality and financial crises. One possible link between the two, according to David A. Moss, an economic and policy historian at the Harvard Business School could be the fact that Wall Street titans wield power that, in turn, allows them to promote policies which benefit them, but not necessarily the financial system as a whole.

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