Wall Street Breakfast: Must-Know News [View article]
An AIG comeback "if" financial markets stabilize is a pretty big "if," so the taxpayer had best hope the Fed keeps ZIRP in place to support the phony recovery.
Barclays' theft of $5B from Lehman's creditors shows us the agency problem again. Lehman's managers put their own personal interests ahead of fiduciaries. What else is new on Wall Street? Maybe we need to scatter the Street's traders around the country and build brand new firms based on partnerships. That way execs risk their own capital on every decision.
Wall Street Breakfast: Must-Know News [View article]
Barclays' theft of $5B from Lehman's creditors shows us the agency problem again. Lehman's managers put their own personal interests ahead of fiduciaries. What else is new on Wall Street? Maybe we need to scatter the Street's traders around the country and build brand new firms based on partnerships. That way execs risk their own capital on every decision.