archive

Where did the money go?

From Axess, where did the money go? A special issue on the financial crisis. An interview with Doug Henwood of Left Business Observer. Daniel Gross on the little-known reason why investment banks got too big, too greedy, too risky, and too powerful. From FT, Philip Stephens on how the big banks rigged the market. Tunku Varadarajan on how Wall Street made money soaking savers and taxpayers, rather than adding value. A review of The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It by Scott Patterson. More and more on Too Big to Fail: Inside the Battle to Save Wall Street by Andrew Ross Sorkin. Raghuram Rajan on a better way to reduce financial sector risk. Banks make money, literally, money is their output, but social guarantees are their input — should they be the ones making money? The Wall Street Pay Puzzle: Do big bankers deserve their high salaries? From Too Much, a review of "What is Fair Pay for Executives?" by Venkat Venkatasubramanian; an article on Wall Street’s bonus binge in perspective: A relative handful of Americans will take home more this year than half the nation’s taxpayers combined — when will the White House wake up? An interview with Neil Barofsky, special inspector general of the Troubled Asset Relief Program. A review of Freefall: America, Free Markets, and the Sinking of the World Economy by Joseph Stiglitz (and more and more and more and more and more and more and more). The Needle’s Eye: Why America’s economic recovery needs the Global South. From American Scientist, can control theory save the economy from going down the tubes?