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- Government's Best Move in 2008? Letting Lehman Fail
- Rick Newman submits: It's conventional wisdom on Wall Street that the biggest government mistake of the last year was letting Lehman Brothers (LEHMQ.PK) fail. I guess the barons of capitalism still don't get it. Here's how the Wall Streeters see it: The March 2008 government bailout of Bear Stearns—if...
- External links 2008-12-30
- Bank Nationalization: It's No Panacea
- Rick Newman submits: Scan the headlines, and you’d think it’s a no-brainer: The government takes over the most troubled banks, whips them back into shape, then returns them to the private sector in a few years. Problem solved. Former Federal Reserve Chairman Alan Greenspan has advocated nationalizing select...
- External links 2009-02-23
- The Future of Citigroup and AIG
- Rick Newman submits: At least one thing is clear about the financial meltdown: We know who the poster children are. Lehman Brothers and Bear Stearns had their dramatic flameouts, but at this point we’ve survived their demise. Big banks like Wachovia and Washington Mutual wiped out shareholders when they...
- External links 2009-02-26
- Merrill Lynch Bonuses: A Watershed Moment
- Rick Newman submits: In the midst of the Vietnam War, an Air Force major told war correspondent Peter Arnett that it was necessary to destroy the town of Ben Tre in order to save it. The twisted logic came to encapsulate the insanity of the entire decade-long fiasco. ...
- External links 2009-03-08
- Merrill Bonuses Breed More Outrage
- Rick Newman submits: The last time Merrill Lynch tangled with the New York attorney general, it didn’t go so well. In 2002, after a bruising battle with Eliot Spitzer over conflicts between its research and investment banking divisions, Merrill finally agreed to widespread reforms, paid a $100 million fine, and...
- External links 2009-03-13
- AIG Bonuses Likely to Do an Outsized Amount of Harm
- Rick Newman submits: It used to be such a nice, benign word. “Bonus.” In Latin, it literally means “good.” Way back in school, a bonus question on a test earned you extra credit if you got it right, with no penalty if you got it wrong. When tacked onto your...
- External links 2009-03-16
- AIG Bailout: The Good, The Bad
- Rick Newman submits: "There are times when one would like to hang the whole human race, and finish the farce.” The latest surreal twists in the [[AIG]] bailout bring to mind Mark Twain, who could spot folly as if he were hunting for it with a spyglass. Had...
- External links 2009-03-18
- The AIG Bonuses: A Welcome Scandal
- Rick Newman submits: Finally. A scandal we can relate to. For the last year, something has been really wrong with the U.S. economy. But what, exactly? The collapse of Bear Stearns in March 2008 was the first indicator. The government stepped in with a $29 billion bailout, marking...
- External links 2009-03-20
- Five Lessons from AIG and Merrill Bonuses
- Rick Newman submits: Score one for common sense. American taxpayers may not have much of a say over which banks get bailout money or what a fair price for toxic derivatives may be, but basic logic is finally winning out when it comes to lavish bonuses. by Rick...
- External links 2009-03-20
- New Information Emerges About the AIG Bonuses
- Rick Newman submits: The recent Congressional hearings on [[AIG]] generated intense heat. But was there any light? Actually, quite a lot. The scandal over bonuses paid to AIG’s rogue trading unit has obviously dominated news coverage and public attention. But while explaining the bonuses, AIG CEO Ed Liddy...
- External links 2009-03-22
- Why the Government Should Stop All the Bailout Secrecy
- Rick Newman submits: You don’t need to know the details. That’s been the paternalistic approach taken by Treasury and Federal Reserve officials since last fall, as they’ve tried one maneuver after another to salvage the financial system and fix the economy. The just-trust-us strategy has backfired, badly. Now...
- External links 2009-03-24
- Why Congress Is Asking Bernanke Bogus Questions
- Rick Newman submits: Our esteemed Congress seems determined to make rapacious bankers look good. The latest spectacle involves Federal Reserve chairman Ben Bernanke explaining how he reacted when he learned last December that Bank of America BAC might back out of its deal to buy Merrill Lynch, which...
- External links 2009-06-26
- Financial Reform: An Obama Growth Industry
- Rick Newman submits: It wasn't part of the stimulus package, but President Obama's financial reform could turn out to rank among Washington's biggest job-creation programs. One contributing factor in the financial meltdown has been a patchwork regulatory system with wide gaps exploited by companies like [[AIG]], Countrywide Financial,...
- External links 2009-06-30
- Why Goldman's Fat Profits Are a Good Thing
- Rick Newman submits: It’s tempting to feel bitter, isn’t it? Many of us are sucking wind on account of the recession, with the awful sensation that things are going to get worse, not better. And here comes Goldman Sachs GS, the royalty of Wall Street, racking up a huge...
- External links 2009-07-14
- Jamie Dimon: The Man Who Could Save Wall Street
- Rick Newman submits: Are all bankers evil? Maybe not. Over the past year, it's become fashionable to trash Wall Street for unbridled greed and the rapacious use of billions in taxpayer bailout funds. Much of the outrage is justified, since Wall Street firms like Bear Stearns, Lehman Brothers (LEHMQ.PK), Merrill...
- External links 2009-10-09
- Government Stimulus Programs: Where They Stand
- Rick Newman submits: A lot of economic indicators go hot and cold these days, but here's one that's been consistently getting better: The government has been steadily withdrawing its extraordinary support for the ravaged economy. It might not seem that way. Lender GMAC is lined up for another...
- External links 2009-11-02
Additional Resources
- The Autos and Mentality That Ruined Detroit
- Rick Newman submits: The global financial crisis is suffocating the Detroit automakers, but the problems at General Motors GM, Ford F, and Chrysler have been festering for years—even when the mighty "Big Three" were earning billions. Aging factories, inflexible unions, arrogant executives and shoddy quality have all damaged Detroit. Now,...
- External links 2008-11-16
- Wreck a Company, Earn a Bonus
- Rick Newman submits: At [[AIG]], the hotshots who lost a staggering $41 billion in 2008 and injected poison into the world’s financial arteries are in line to earn at least $165 million in bonuses. Merrill Lynch MER, which lost nearly $28 billion last year, insists it must still pay $3.6...
- External links 2009-03-16
- Today's Other Bailout: $25B for Auto Makers
- Rick Newman submits: In Washington these days, an 11-figure expenditure barely attracts notice. With Congress preoccupied with the massive, $700 billion bailout plan for the financial industry, General Motors GM, Ford F, and Chrysler have finally secured Part One of their own federal rescue plan. A bill set to...
- External links 2008-09-24
- Chevy Volt: Can It Survive GM?
- Rick Newman submits: Two momentous things are happening at General Motors GM. One is GM's electric-powered car, the Chevrolet Volt, which might be a breakthrough machine if it debuts on schedule in late 2010. The other is the deepest financial crisis in GM's history, which threatens virtually every program underway...
- External links 2008-10-31
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