Duh. The truth is that the only reason they did this and ignored the obvious was greed: Former Bear Stearns Chief Executive Officer James Cayne said Wednesday that his firm’s risk level was too high in the year before it collapsed. "That was the business," Mr. Cayne told a hearing held by the Financial […]
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Jonathan Tasini's Ruminations on Work, The Economy, and PoliticsTag Archive | "Bear Stearns"
Execs Kept Their Wealth
Posted on 24 November 2009.
I am not shocked in the least by this story: Bear Stearns and Lehman Brothers paid their executives largely in stock, and that stock lost most or all of its value when those companies collapsed. Many people on Wall Street say these examples help make the case that pay incentives were not what caused […]
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Sen. Obama Speaks on The Economy
Posted on 28 March 2008.
This morning, Sen. Obama is scheduled to give a major address on the economy. Yours truly is scheduled to appear on CNBC’s "Power Lunch" (hey, I didn’t come up with the name) at 1:20 p.m. (Eastern Time). I may not have a chance to post the entire speech here before the CNBC gig but […]
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Sen Clinton, You Want WHO To Fix Our Economic Mess?
Posted on 26 March 2008.
I have been waiting to hear what the presidential candidates have to say about how to address the financial crisis gripping the country, and the international markets. Very little of substance has been said, beyond vague pronouncements—until yesterday. Sen. Hillary Clinton released a plan, which, in my humble opinion, underscores why another Clinton Administration would […]
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More People Out Of Work
Posted on 21 March 2008.
This just out via the Associated Press: The number of newly laid off workers filing for unemployment benefits rose last week to the highest level in nearly two months, providing more evidence that the weak economy is having an adverse impact on the labor market. The Labor Department said Thursday that applications for jobless […]
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More People Out Of Work
Posted on 21 March 2008.
This just out via the Associated Press: The number of newly laid off workers filing for unemployment benefits rose last week to the highest level in nearly two months, providing more evidence that the weak economy is having an adverse impact on the labor market. The Labor Department said Thursday that applications for jobless […]
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More Collapsing Hedge Funds–Inevitable
Posted on 25 June 2007.
You can hear the nervous Nellies on Wall Street expressing worries that so many of us have raised for a long time about hedge funds and the private equity funds that operate outside the scrutiny of the government. Today’s front-page Wall Street Journal article is an expression of the concern: Â The near-meltdown of two […]
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