Echoes of Black Tuesday
Nomi Prins is author of It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street (Wiley, September, 2009). Before becoming a journalist, she worked on Wall Street as a managing director at Goldman Sachs, and running the international analytics group at Bear Stearns in London.
Eighty years ago today, the stock market dove more than 11 percent on record volume. The crash, like our own, was a wakeup call for change, says Nomi Prins-but Obama isn't heeding the lessons of FDR and changing the banking landscape.
Why Washington Won't Prevent Another Meltdown
Jeff Madrick is a contributor to the New York Review of Books and a former economics columnist for the New York Times. He is editor of Challenge Magazine, visiting professor of humanities at Cooper Union, and senior fellow at the New School's Schwartz Center for Economic Policy Analysis. He is the author of Taking America, The End of Affluence (Random House) and The Case for Big Government.
The U.S. can't rely on the proposed House bill to protect the economy from another crash. Relying on regulators won't work, says Jeff Madrick-instead, the government should start by dividing banking activities.
The End Is Near!
Jeffrey Leeds is president and co-founder of Leeds Equity Partners, a private-equity firm based in New York. He is a director of Education Management Corp., RealPage, and SeatonCorp, and a trustee on the United Federation of Teachers' Charter School Board in New York.
But in a good way. Financier Jeffrey Leeds talks with Liaquat Ahamed, author of the acclaimed Lords of Finance, about why the bear market is actually a good thing-and how much longer it will last.
Obama's Role Model Is... Bush?
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.
Despite the Clintonites in the cabinet, Obama's opening act looks a lot more like Dubya's.
Why Obama Can Spend, Spend, Spend
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.
A decade after Bill Clinton made Democrats the party of fiscal responsibility, the president-elect is about to turn the tables.
Congress wants a 'car czar' to oversee $15 billion in emergency loan bailout. But does anyone outside of Washington think one man can force a turnaround of a deeply-troubled business culture? It won't be an easy job. Favorite Paul Volcker has powerful support-but The Daily Beast's top pick for the job is Roger Penske, the race car driver turned billionaire.
Obama's Council of Elders
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.
How octogenarians Paul Volcker and Felix Rohatyn found their way back into the White House power circle.
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.
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 new book about the financial crisis, The Sellout, was published by HarperBusiness.
Rachel Kramer Bussel is the editor of Peep Show: Erotic Tales of Voyeurs and Exhibitionists, Bottoms Up and over 25 other erotica anthologies, and hosts and curates In The Flesh Reading Series.
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