Wall Street's Bonus Hypocrisy
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.
Firms like Goldman Sachs are about to announce billions in year-end bonuses. Charlie Gasparino on how banks are rewarding themselves while still gambling with America's money.
Love Trumped Money
Abby Ellin regularly writes the "Vows" column for the New York Times, and previously wrote the "Preludes" column for that newspaper about young people and money. Her work has appeared in a range of publications, including Time, Marie Claire, More, Self and Glamour. She is the author of Teenage Waistland, but her greatest claim to fame is naming “Karamel Sutra” ice cream for Ben and Jerry's.
A year ago, when the financial system melted down, many predicted that Wall Street's cash-fueled relationships would, too. But a funny thing happened on the way to divorce court: Love won over.
Which Bank Could Implode Next?
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.
The G-20 leaders will meet in Pittsburgh Thursday to discuss slashing banker bonuses, but they're focusing on the wrong threat. Nomi Prins handicaps who will prompt the next meltdown.
Wall Street's Bonus Addiction
Dr. Doug Hirschhorn is one of the premier trading coaches on Wall Street, whose client list includes Deutsche Bank and numerous billion-dollar hedge funds. The co-author of The Trading Athlete and the forthcoming 8 Ways to Great, he is a former columnist for Trader Monthly, and a regular commentator on CNBC.
As Citigroup lobbies Washington for more money to pay bonuses and big banks set aside an additional $36 billion for compensation, one of Wall Street's top psychological coaches explains why, no matter the outcry, Masters of the Universe will always think they're worth it.
Former NYSE Chairman Grasso Speaks
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.
In part one of an exclusive interview, former NYSE chairman Richard Grasso opens up to Allan Dodds Frank about the AIG bonus debacle, what Eliot Spitzer did right, and why Citibank is too big to fail. Tomorrow: What Grasso knows about Bernie Madoff.
How to Shake Down the Banks
Matt Miller is a management consultant, a senior fellow at the Center for American Progress, and the host of public radio’s popular political week-in-review, Left, Right & Center. His new book is The Tyranny of Dead Ideas.
From prison, Bill Lerach, America's premier class-action lawyer, has a roadmap to get all that bonus money back from the Wall Streeters who got us into this mess.
Wall Street's New Bonus Outrage
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.
The disclosure that near-bankrupt Merrill dished out a staggering $209 million for 10 bankers takes this scandal beyond the absurd-and possibly into criminal territory. Will the Feds prosecute?
You Don't Deserve to Be Rich
Matt Miller is a management consultant, a senior fellow at the Center for American Progress, and the host of public radio’s popular political week-in-review, Left, Right & Center. His new book is The Tyranny of Dead Ideas.
The sooner we shed our illusion that people end up financially where they deserve to, the faster we'll fix the economy.
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.
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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