Twenty-five years after the Black Monday stock market crash of 1987, the potential for a catastrophic plunge remains, says Bloomberg. The Wall Street Journal looks back at the articles it published on the week of Oct. 19, 1987.
It seems the Times has also seen a “bootleg” copy of Greg Smith’s Why I Left Goldman Sachs, and its take is in line with what we’ve read of the book so far: “Long on Mr. Smith’s reminiscences of the pleasures of the job—handmade suits, sashimi at 30,000 feet, strawberries at Wimbledon—the former Goldman salesman’s book does not break much new ground on illegal or questionable financial practices at the firm.”
Footage of Mitt Romney’s remarks about the 47 percent voters who don’t pay taxes or depend on government assistance—”I’ll never convince them they should take personal responsibility and care for their lives”—was taken in the Florida home of Marc Leder, co-CEO of private equity firm Sun Capital Partners, said David Corn, the reporter who published video clips at Mother Jones. Mr. Leder, a part-owner in the Philadelphia 76ers, is as TPM points out, also known for his bacchanals: “At the Bridgehampton home that Leder rented for a whopping $500,000 a month, guests cavorted nude in a pool and performed sex acts, while scantily clad Russian women danced on platforms,” The New York Post reported last year.
JPMorgan’s board of directors is weighing lower bonuses for CEO Jamie Dimon and other top executives in light of the $5.8 billion trading loss the firm suffered this year, according to The Wall Street Journal; Citigroup is also looking at executive pay in an attempt to appease shareholders.
Kweku Adoboli, the former UBS trader Read More
As The Observer‘s Maureen Tkacik noted two weeks ago, Mary Schapiro, chairman of the Securities and Exchange Commission, is a popular figure in Washington. She wins high marks for her integrity, hard work and decency–qualities that often are in short supply in public life.
And yet, for all the affection, Ms. Schapiro finds herself in Read More
Few cops are as well liked as Securities and Exchange Commission Chairman Mary Schapiro. “Oh, Mary is just a really nice, good person,” former S.E.C. commissioner Isaac Hunt told The Observer. “I don’t think anyone doesn’t love Mary.”
“Mary is extraordinarily smart, open-minded and her integrity is absolutely above reproach,” said Susan W. Phillips, an Read More
Securities and Exchange Commission chief Mary Schapiro says that her agency’s report on the May 6 Flash Crash will show that regulators have a “very deep understanding” of how the exchanges work, Reuters reports.
Schapiro said she expects the SEC to release the report in the next few days. Public confidence in the Read More
The Securities and Exchange Commission will not misuse its newfound power to reject Freedom of Information Act requests, SEC chairman Mary Schapiro said today at a House of Representatives hearing.
A section of the Dodd-Frank financial reform bill signed by President Obama in July allows the SEC to turn down FOIA requests pertaining Read More
At the 410th meeting of the Economic Club of New York at the Sheraton on 811 7th Avenue this afternoon, Securities and Exchange Commission chairman Mary Schapiro discussed her agency’s scrutiny of the May 6 “Flash Crash,” what she hoped to do to prevent another Bernie Madoff from fleecing investors, and the delicate balance between Read More