In the latest variation on the theme that the September 2008 Lehman Brothers bankruptcy was in reality a calamity for civilization, and perhaps would have been better avoided, the Financial Crisis Inquiry Commission has published a series of emails revealing that officials faced heated debate and high uncertainty over what to do about Read More
It’s October 2008, the middle of the global financial apocalypse, and Treasury Secretary Henry Paulson has kayaked to a private island. The most expensive government spending act in American history passed a day earlier, but now he’s hunting redfish. “I felt like myself for the first time in a long while,” he sighs in On Read More
In her first major speech in New York City since becoming New York’s junior senator, Kirsten Gillibrand looked out onto a room of business leaders gathered at the Hilton this morning, and began talking about her mother, grandmother and then, seemingly her entire life story.
“She was introducing herself, literally,” said one person in Read More
The economy lost 533,000 jobs in November, raising the official US unemployment rate to 6.7%. When you add to that the number of people who have given up their job searches or are working part time when they would rather work full time, our real unemployment rate is probably closer to 12.5%. Over the last Read More
Mayor Michael Bloomberg has returned to planet Earth. With a white-cheeked gibbon swinging from branch to branch and a Malayan Tapir drooping its head over a muddy puddle behind him at the Bronx Zoo, on Nov. 24, Mr. Bloomberg explained why, after all the talk over the last couple of years about the stratospheric national Read More
With the announcement last week that its top seven executives would forgo annual bonuses for 2008, Goldman Sachs continues to demonstrate why it has always stood out from the rest of Wall Street as a leader that represents the best in capitalism. By giving up tens of millions of dollars in compensation, Goldman’s chief executive, Read More
In his first public appearance in New York since July, U.S. Treasury Secretary Henry Paulson, arguably the nation’s most powerful person right now, talked about efforts to stem foreclosures and advocated closer ties with China as a means to strengthen the U.S. economy.
"While some see China as a threat that must be Read More
Standing onstage with Bill Clinton and Lance Armstrong at the opening session of the Clinton Global Initiative in the New York Sheraton this morning, Bloomberg appeared to hint strongly (as if his maneuverings to this point weren’t a strong enough indication) that he likes the idea of running again for mayor.
Armstrong, who was there Read More
The Bush administration’s top economic people, including Treasury Secretary Henry Paulson, are expected today to propose new lending rules that are suppose to prevent a repeat of the current credit crisis, according to the Wall Street Journal.
Chief among the proposals will be those dealing with mortgage lenders and brokers. Mr. Paulson said Read More