Tagged: economic downturn

Goldman executives questioned

The Congressionally appointed Financial Crisis Inquiry Commission exploring the 2008 crash questioned executives from Goldman Sachs, the world’s most profitable bank, about how much it makes trading derivatives — those complex financial bets that helped bring down the economy.  Goldman Chief Financial Officer David Viniar said they had no way of determining its derivatives data […]

G-20 nations pledge to deal with debt

The Group of 20 industrialized nations wrapped up their meeting in Toronto promising to have their government deficits by 2013 and “stabilize” debt loads by 2016, signaling to domestic political audiences and international markets that they’re serious about reducing stimulus spending.  But economics Professor Laurence Kotlikoff, author of “Jimmy Stewart is Dead” about the future […]

Financial regulatory bill agreed on

House and Senate conferees finally worked out a compromise bill aimed at reshaping financial regulations to avoid another Crash of ’08, with a final vote set for next week and President Obama expected to sign it by July 4th.  As expected: many winners and losers.  One controversial provision gives the SEC authority to require stockbrokers to […]