Lehman Brothers
Echoes of Gekko
The sequel to Oliver Stone’s 1987 film Wall Street is set to be released this spring, and Michael Douglas is back as the deliciously unctuous Gordon Gekko. [Update – 3/11: The film’s release date has been pushed back to September.] My favorite part of the trailer (posted below) is when a prison guard, returning Gekko’s […]
Did the Obama Administration Fumble the Economy?
Four months before President Obama was sworn into office, the investment bank Lehman Brothers declared bankruptcy, setting off a panic throughout the country and much of the world. Coming on the heels of the bank bailout and the subprime mortgage crisis, President Obama’s primary focus became the economy. One of the major questions facing his […]
Did the Obama Administration Fumble the Economy?
Four months before President Obama was sworn into office, the investment bank Lehman Brothers declared bankruptcy, setting off a panic throughout the country and much of the world. Coming on the heels of the bank bailout and the subprime mortgage crisis, President Obama’s primary focus became the economy. One of the major questions facing his […]
MF Global Exposes Reach of Euro Debt Crisis
Federal regulators say hundreds of millions of dollars of customer money is missing from MF Global, the brokerage firm which filed for bankruptcy on Monday. It is unclear where the estimated $700 million has gone, and no one has yet been accused of wrongdoing. Headed by former New Jersey governor Jon Corzine, MF Global made risky bets on […]
Global Markets Rally On News From Europe
Markets around the world rallied on the news that European leaders had reached an agreement to solve the Euro zone debt crisis. The Dow Jones ended the day up 339 points and stocks appear headed for their best month since 1974. Was this the equivalent of Europe avoiding a Lehman Brothers-type disaster, or was yesterday […]