The Merger That Ruined Lewis
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.
Bank of America CEO Ken Lewis was the classic American success story. But he had a weakness for big deals-and his resignation was inevitable from the second he agreed to take on Merrill Lynch.
The Meltdown's 10 Biggest Losers
Allan Dodds Frank is a business investigative correspondent who specializes in white collar crime. He also is President of the Overseas Press Club of America, one of the many journalism organizations that protests the arrests of journalists abroad and repression of freedom of speech.
The whole country lost out when the U.S. economy fell off a cliff a year ago, but who are the 10 with the most egg on their faces or blood on their hands? VIEW OUR ROGUES GALLERY.
Robert Rubin's Agony
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.
What keeps the former Clinton economic star up at night? Friends blame him for the Citigroup fiasco. And Rubin can't figure out how he didn't see it coming.
The Secret Plan for Citigroup
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.
Why won't the government put Citi out of its misery and let it fail? Sources tell Charlie Gasparino the Feds have a new strategy to leave the bank in a coma.
Top 5 Phony Scapegoats
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.
Angry Americans want people to blame for the financial mess-but c'mon. Are AIG and John Thain really the reason for your retirement losses? William D. Cohan on the phenomenon of misplaced rage.
Fuming: Sandy Weill
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.
Privately, the former CEO who created the financial superpower is fuming that he hasn't been consulted during the firm's freefall-and some people close to him believe he cashed out of the stock a long time ago. Charlie Gasparino reports.
Stop Bashing Wall Street!
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.
The president has attacked corporate greed, and the media-including the author-have been brutal as well. But maybe the only way out of this financial crisis is to trust the people who helped get us into it. Like the Citigroup investment banker who gave up his 2008 bonus.
Why Has Citigroup Banked on Richard Parsons?
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.
With the government threatening to nationalize the bank, newly appointed chairman Dick Parsons is being asked to do for Citigroup what he did to save Time Warner. That's what makes Charlie Gasparino nervous.
Robert Rubin Still Doesn't Get It
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.
The former Treasury secretary leaves Citigroup oblivious to the fact that it's imploding because of the very policies he championed in government.
The 7 Who Could Have Saved Citi
Duff McDonald is a contributing editor at New York magazine and a former contributing editor at Condé Nast Portfolio. His book, Last Man Standing, about Jamie Dimon, chairman and CEO of JPMorgan Chase, was published by Simon & Schuster in October.
When Jamie Dimon was ousted from Citi, he took the bank's rising stars with him. Now, Dimon and his loyal crew are Wall Street's most triumphant survivors.
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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