I was surprised to see a chairman of the Federal Reserve Bank of New York was resigning, and then realised from the reports it was a non-exec. Institutional Risk Analyst put it in perspective: “And speaking of the fall of the elites, FRBNY Chairman Steve Friedman finally resigned yesterday, ending a scandalous period when the [...]
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Better add Vanity Fair and yes, Rolling Stone, to your reading list if you want to understand the financial crisis. No longer are Banking Technology, the Economist and the FT enough. In the current Vanity Fair Michael Lewis, of “Liar’s Poke” fame, delves into the role played by AIG Financial Products. “Here is an amazing [...]
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Could American consumers come out of this crisis with a little help from Washington? The Obama administration is pushing a new consumer protection agency to regulate the bankers, and the bankers are going to do their best to kill it. This agency would focus solely on the consumer and the proposed legislation would give it [...]
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“It’s kind of sad to see a show dying,” remarked one public relations person on the opening day of SIFMA. The most common comment during the event was how the conference had shrunk since last year. Some of that is simply a function of the economic crisis, said one vendor. Firms are guarding their resources [...]
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