Bear Stearns' Trail of 'Lies'
William D. Cohan, a former senior-level M&A banker on Wall Street, is the author of The Last Tycoons: The Secret History of Lazard Freres & Co, and his new best seller House of Cards: A Tale of Hubris and Wretched Excess on Wall Street.
An unearthed filing reveals the prosecutors' playbook against the two $1.5 billion hedge fund managers whose indictment helped expose the mortgage crisis.
Geithner's Stress Test Sham
Frank Partnoy is a law professor at the University of San Diego and has written several books about financial markets, including The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals (just out from PublicAffairs).
Wall Street's fiscal report cards came out Thursday afternoon. Frank Partnoy argues they prove only one thing: the government will go to any lengths to prop up the nation's worthless banks.
Bank of America Smackdown!
Charles Gasparino is CNBC's On-Air Editor and appears as a daily member of CNBC's ensemble. He is a columnist for the Daily Beast and a frequent contributor to the New York Post, Forbes, and other publications. His forthcoming book about the financial crisis, The Sellout, is scheduled to be published later in 2009.
Shareholders will vote on BofA CEO Ken Lewis' fate today (odds 50/50). But Charlie Gasparino says Lewis' battle with former Merrill chief John Thain has devastated the credibility of both men.
Wall Street flexed its earnings muscles this week: Goldman Sachs, JPMorgan Chase, and Citigroup reported surprising billion-dollar profits. So is the worst finally behind us? A breakdown of the latest reasons to be skeptical or go dance in the streets.
Bair: The End of Big Banks?
Should there be a permanent ban on banks the size of, say, Citigroup? That's what FDIC chair Sheila Bair hinted at on 60 Minutes last night. Clip above; full segment here.
Buffett Slams Democrats
Warren Buffett makes no secret of having voted for President Obama, but that doesn't mean he's thrilled about the earmarks in his stimulus bill. Clip above; full interview here.
The Bear Stearns Lucky Bastards
William D. Cohan, a former senior-level M&A banker on Wall Street, is the author of The Last Tycoons: The Secret History of Lazard Freres & Co, and his new best seller House of Cards: A Tale of Hubris and Wretched Excess on Wall Street.
Thanks to a top-secret settlement, a small group of Bear Stearns investors is getting back every cent they lost. The Daily Beast's William D. Cohan on who's pocketing $1 million checks-and why Wall Street is furious.
Lloyd Grove is editor at large for The Daily Beast. He is also a frequent contributor to New York magazine and was a contributing editor for Condé Nast Portfolio. He wrote a gossip column for the New York Daily News from 2003 to 2006. Prior to that, he wrote the Reliable Source column for the Washington Post, where he spent 23 years covering politics, the media, and other subjects.
Jacob Bernstein is a senior reporter at The Daily Beast. Previously, he was a features writer at WWD and W Magazine. He has also written for New York magazine, Paper, and The Huffington Post.
Peter Beinart, senior political writer for The Daily Beast, is a professor of journalism and political science at City University of New York and a senior fellow at the New America Foundation.
Gerald Posner is The Daily Beast's Chief Investigative Reporter. He's the award-winning author of 10 investigative nonfiction bestsellers, ranging from political assassinations, to Nazi war criminals, to 9/11, to terrorism. His latest book, Miami Babylon: Crime, Wealth and Power—A Dispatch from the Beach, was published in October. He lives in Miami Beach with his wife, the author Trisha Posner.
Martin Jacques is the cofounder of the UK think tank Demos, writes a regular column for The Guardian, and is a visiting research fellow at the London School of Economics Asia Research Centre. His new book, When China Rules the World, is available now.
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