Libor-ated: U.S. prosecutors are preparing to file criminal charges this fall in the Libor-rigging scandal, and employees at more than one bank are said to be implicated, Bloomberg reports. (Earlier in the week, John Carney looked at what types of criminal charges might be filed, and writes that decades-long sentences could Read More
‘Curse of Dick Fuld’: Ken Watanabe, chief executive officer of Nomura Holdings and the driving force behind the bank’s purchase of Lehman Brothers European and Asian operations, resigned as the company indicated that insider-trading offenses committed within the company go beyond those identified by Japanese regulators. Mr. Watanabe leaves Nomura three weeks after Read More
Geithner visits Congress: Treasury secretary Timothy Geithner will testify before the House Financial Services Committee today about the rate-rigging scandal, where it figures he’ll be asked why the New York Fed failed to alert other regulators when a Barclays employee told the Fed that the bank was rigging Libor in April 2008. (Mr. Read More
“I had breakfast with the mayor,” Treasury Secretary Tim Geithner said before beginning his speech this afternoon at NYU’s Stern School of Business. “I said, ‘How is New York?’ He said, ‘New York is strong.’ I said, ‘Why is that?’ He said, ‘Because we have a great mayor.’”
The crowd—business people, media people and NYU Read More
Secretary of the Treasury and Vogue star Timothy Geithner continued his charm offensive last night in a relatively long sit-down with Rachel Maddow.
Mr. Geithner talked a lot about the “innocent victims” of the crisis, how he felt a deep “personal responsibility and obligation” to prevent another crisis, said bonuses made for a Read More
There are two ways to react to the biblically proportioned report that Lehman Brothers’ bankruptcy examiner released last Friday, which over its 2,209 pages (not counting appendices) has echoes of Grisham, Orwell and Ayn Rand.
The first is to lose faith in man. As it reveals, Lehman turns out to have used a secretive and Read More
This morning, The Times rushed out its 8,000-word, Sunday magazine profile of Rahm Emanuel–apparently not wishing to be too far behind the 4,600-word story about him that appeared in the New Republic and a 2,300-word story in The Washington Post (in addition to a column that preceded Read More
Snowmageddon 3.0 in the city! Gubernatorial Meltdown 2.0 in Albany! Anna Wintour, always prompt! Just another week in NYC, folks. Here’s our look back at a few of the lessons learned over the past seven days.
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Remember the city’s plan to root out bad teachers? Well, it’s in full swing; there have been three dismissals!
Mort Zuckerman isn’t dismissing the idea of running for the Senate. The real estate and media mogul is talking to George Pataki and Ed Cox about running as a Republican.
In fact, Read More
One thing that won’t be left behind when Goldman Sachs moves from its shabby old digs at 85 Broad Street into a shiny new tower on West Street is that dark cloud of public distrust that’s hanging over the holiday bonus season.
Yesterday, William George, a Goldman board member, told Bloomberg TV Read More