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« February 2009 | Main | April 2009 »
What Will the G20 Meeting Accomplish?March 31, 2009 @ 10:15 AM | By Greg MacSweeney
As world leaders prepare for the G-20 summit, it's become clear that stimulus package increases won't be on the table. American Public Media’s European correspondent Stephen Beard tells Steve Chiotakis what likely will be accomplished at the meeting.
Watch Out for the Conficker Worm
March 31, 2009 @ 10:04 AM | By Greg MacSweeney
CNET's Natali Del Conte shares tips with Maggie Rodriguez about the April 1 ''Conficker'' worm, which could steal financial information and other data from computers. However, while experts are concerned about the complexity of the worm, they don't know if this virus is the real deal, or an April Fool's hoax.
How Can Firms Comply With Regs, While Downsizing Their Compliance Department? (video)
March 31, 2009 @ 10:02 AM | By Melanie Rodier
Companies are downsizing their operations as well as their headcount in internal audit and compliance. But they still need to comply with regulatory requirements, which are increasing.
continued...Geithner Responds to Krugman’s Bank Bailout Critique
March 30, 2009 @ 09:54 AM | By Greg MacSweeney
Treasury Secretary Tim Geithner responds to Nobel Prize-winning economist and New York Times columnist Paul Krugman’s critique of President Obama’s bank bailout with NBC’s David Gregory on “Meet the Press.”
Visit msnbc.com for Breaking News, World News, and News about the Economy
Obama Meets with Senior Bankers Today
March 27, 2009 @ 09:39 AM | By Greg MacSweeney
WSJ.com is reporting that President Obama is expected to meet with several high profile bankers in Washington as he seeks to gain support for the latest plan to stabilize the financial sector.
American Public Media’s Marketplace Morning Report has more on the bank executives' meeting with President Obama.
South Park's Stan, Lex Luthor Ask for Government Bailouts
March 27, 2009 @ 07:04 AM | By Penny Crosman
Stan in South Park and villain Lex Luthor apply for government bailouts, office workers visit the Twittersphere, a flight attendant tries a new way of presenting safety information, and a hamster eats popcorn on a piano.
South Park’s Stan Asks for a Government Bailout
Stan finds out how Washington makes its handout decisions.
continued...
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Are Those Assets 'Toxic,' 'Dodgy,' 'Devalued' or Just 'Legacy'?
March 24, 2009 @ 03:20 PM | By Penny Crosman
There's a widening dichotomy in the way industry observers describe subprime-related financial instruments, such as those included in the financial rescue plan the Treasury Department announced yesterday: what some call “toxic,” "troubled" or “dodgy" assets, others (such as the current Administration) refer to as simply “legacy" assets. They’ve certainly been suffering a liquidity problem and probably performance issues, but are these assets truly "toxic"? On the other hand, are they a gift, as the word "legacy" implies?
continued...Comment on this blog entry
Obama Works the Tonight Show; Sesame Street Explains the Madoff Scandal
March 20, 2009 @ 06:49 AM | By Penny Crosman
It's been a good week in financial-crisis comedy. President Obama starred on the Tonight Show last night, talked about bonuses and the financial industry and cracked a few good jokes; Sesame Street's Ernie and Cookie Monster came up with a concise explanation of Bernard Madoff's Ponzi scheme; Samantha Bee at the Daily Show crafted a witty, cutting segment on short sellers.
Obama Works the Tonight Show
President Barack Obama’s interview with Jay Leno last night was more dignified, serious and articulate than funny, but that seems appropriate for a sitting President. He called for common-sense financial regulation, explained that the AIG bonuses did have a legal basis and defended Tim Geithner's work as Treasury Secretary. On the lighter side, he reported that his daughters are unimpressed with Air Force One and when asked about the much-discussed, yet-to-arrive family dog, joked, “This is Washington, and that was a campaign promise.” (Actually, Obama said the dog “will be there shortly.”) Obama’s best line of the night (in my opinion): “They say if you want a friend in Washington, get a dog.”
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Citi CIO Out, Replacement Sought
March 19, 2009 @ 03:45 PM | By Penny Crosman
Meredith Levinson, senior online editor of CIO magazine, just told me that Citi's CIO, Marty Lippert, left the organization earlier this week. She got a copy of the memo the company released internally announcing Lippert's departure and wrote a story about it. According to the memo, Lippert is going back home to Canada for personal reasons.
continued...Comments(1)
TGIF: Treasury Secretary Geithner is Looking for Good Ideas
March 13, 2009 @ 06:31 AM | By Penny Crosman
Tim Geithner's visit to Saturday Night Live; the Late Show's visit to Wall Street.
Geithner's Open to Suggestions
On Saturday Night Live, Tim Geithner (played by Will Forte) sought ideas for resolving the financial crisis.
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Madoff Plea: "I Believed It Would End Shortly"
March 12, 2009 @ 01:46 PM | By Penny Crosman
The Wall Street Journal has unearthed the text of Bernard Madoff's guilty plea, which he read in court this morning. It's fascinating reading for anyone who has wondered over the last three months how and why he perpetrated his massive $50 billion investment scam. He says he fell into this during the recession of the '90s, when institutional investors were demanding higher returns than the markets were providing.
continued...Comments(1)
TGIF: Daily Show Skewers CNBC’s Wall Street Coverage
March 06, 2009 @ 07:19 AM | By Penny Crosman
Jon Stewart critiques CNBC’s financial news reports; Jimmy Fallon’s fundraising efforts on behalf of investment bankers; Louis C.K. explains that we’re all too spoiled; a ride on the “high-five” escalator.
Daily Show Takes on CNBC
Jon Stewart compares Wall Street-related predictions and recommendations by CNBC pundits with actual events.
continued...Comment on this blog entry
Morgan Stanley and Citi Execs Speak On Record About Pending Merger
March 05, 2009 @ 05:05 PM | By Penny Crosman
In early February, we ran a story about the pending merger of Citi’s Smith Barney brokerage unit with Morgan Stanley’s global wealth management unit (Citi/Morgan Brokerage Merger Presents Disruption and Opportunity). At the time, nobody from either firm would speak on the record. To some extent this was understandable, as the deal won’t even be finalized until the third quarter of this year. However, there seems to be a lot of curiosity among our readership about this merger and the article was our most-read online story for about two weeks.
continued...Comment on this blog entry
Who Are Merrill's 10 Million Dollar Men? (video)
March 05, 2009 @ 12:28 PM | By Melanie Rodier
The Wall Street Journal’s Kelsey Hubbard and Susanne Craig zoom in on Merrill’s $10 m dollar men, who they describe as “a really interesting collection of people” who include those who ran successful divisions, those whose divisions posted massive losses, and those who were paid huge retention bonuses..
continued...Comment on this blog entry
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