Editor
WS&T
CISO
DrKW
VP, IT Controls
JPMorgan Chase
Director, Enterprise Risk Management
BearingPoint
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Greg MacSweeney Editor WS&T |
Mike Everall CISO DrKW |
Brian Mitchell VP, IT Controls JPMorgan Chase |
Sandeep Vishnu Director, Enterprise Risk Management BearingPoint |
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Michael Lewis’ “The Big Short: Inside the Doomsday Machine”
If you ranked the people who are the most disliked by Wall Street executives, Michael Lewis is probably at the top of the list (along New York Attorney General Andrew Cuomo and probably U.S. Congressman Barney Frank). First Lewis writes “Liar’s Poker” about the excessive culture he witnessed while he was at Solomon Brothers, and now he follows it up with “The Big Short: Inside the Doomsday Machine,” a scathing critique of Wall Street and its actions before, during and after the credit crisis. Here is Lewis’ “60 Minutes” interview from Sunday’s episode, in two parts: Inside the Collapse, Part I: For Part II, click below: Continue reading "Michael Lewis’ “The Big Short: Inside the Doomsday Machine”" » Wall Street Firms Focus On Vendor Risk (video)Vendor risk is top of the mind for most Wall Street firms these days. In this video clip, Larry Tabb, CEO and founder of TABB Group, tells us how the credit crisis is changing the vendor landscape as financial organizations seek more stable larger vendors to align with. Still, when the market recovers, we will start to see more innovation, particularly from smaller independent vendors, Tabb says. Continue reading "Wall Street Firms Focus On Vendor Risk (video)" » AIG Plans to Revamp Compensation ModelAIG CEO Bob Benmosche plans to revamp the compensation model at the troubled insurer. The new model will rate employees on a 1 through 4 scale, with the top employees ranked as 1. The catch: only 10 percent of the bonus-eligible employees can be categorized as a 1, so expect a lot of anxiety at AIG as the new plan is rolled out. WSJ's Dennis Berman tells Simon Constable about a plan by insurer AIG to introduce four tiers of compensation for employees in this video clip. AIG and Backdoor Bailouts?WSJ's Dennis Berman tells Kelsey Hubbard about ongoing investigations into the bailout of AIG, including allegations of a coverup over payments made to some of the biggest banks who had exposure to the collapsed insurer. Was there a conspiracy to pay banks in full, but not make the news of the payments public? But the big questions: where was the Fed when AIG was writing the toxic contracts in the first place? Where was the oversight as AIG took on more and more excessive risk?  |
