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.
Why Did Visa and MasterCard Get Off Scot-Free?
Adam Hanft is a decoder of the consumer culture and our branded planet. He blogs for The Huffington Post and FastCompany.com. He is also the co-author of Dictionary of the Future and is founder and CEO of the marketing and branding firm Hanft Raboy. Follow him at Twitter.com/hanft.
As Obama and Congress, fed by populist rage, crack down on bank credit-card issuers, they've let off the two giants most responsible for plastic run amok: Visa and MasterCard.
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.
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.
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.
Christopher Buckley's books include Supreme Courtship, The White House Mess, Thank You for Smoking, Little Green Men, and Florence of Arabia. He was chief speechwriter for Vice President George H.W. Bush, and is editor-at-large of ForbesLife magazine. His new book is Losing Mum and Pup, a memoir. Buckley's Daily Beast column is the winner of an Online Journalism Award in the category of Online Commentary.
Jeffrey Koterba is an acclaimed syndicated political cartoonist. Since joining the Omaha World-Herald in 1989, he has been a finalist for Editorial Cartoonist of the Year from the National Cartoonists Society and has placed second in the National Headliner Awards. His work is distributed through King Features Syndicate to 400 newspapers nationwide, and has appeared in such publications as the New York Times, the Chicago Tribune, and the Washington Post, among others.
Leslie H. Gelb, a former New York Times columnist and senior government official, is author of Power Rules: How Common Sense Can Rescue American Foreign Policy (HarperCollins 2009), a book that shows how to think about and use power in the 21st century. He is president emeritus of the Council on Foreign Relations.
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.
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