banking

10 articles
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What I Saw When I Crashed a Wall Street Secret Society

The first known infiltration of the finance fraternity Kappa Beta Phi.

Excerpted from Young Money.
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The Hunt for Mukhtar Ablyazov: Banker, Criminal, Fugitive, Victim?

Searching for the alleged Kazakh Bernie Madoff.

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What Is to Be Done About the Banks?

On the dangerous state of U.K. banks—“an existential threat to British democracy, a more serious one than terrorism, either external or internal”—and how it can be fixed.

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Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

Libor, ISDAfix, and how the big banks do business.

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Alan Greenspan on His Fed Legacy and the Economy

"Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit. In the midst of a conversation, she said to me, “Do I understand the thrust of your position? You are not certain you exist?” I hesitated a moment, and I said, “I can’t be sure.” And she then said to me, “And who, by chance, is answering that question?” With that little exchange, she undermined the philosophical structure I had built for myself. "
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Bank of America: Too Crooked to Fail

Anyone who wants to know what the Occupy Wall Street protests are all about need only look at the way Bank of America does business. It comes down to this: These guys are some of the very biggest assholes on Earth. They lie, cheat and steal as reflexively as addicts, they laugh at people who are suffering and don't have money, they pay themselves huge salaries with money stolen from old people and taxpayers – and on top of it all, they completely suck at banking. And yet the state won't let them go out of business, no matter how much they deserve it, and it won't slap them in jail, no matter what crimes they commit. That makes them not bankers or capitalists, but a class of person that was never supposed to exist in America: royalty.
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Can Brian Moynihan Save Bank of America?

The CEO of the US’s biggest bank doesn’t have much charisma or a track record, but he’s “doing as well as any little Dutch boy can—sticking his fingers in the dike.”

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What Good Is Wall Street?

“For years, the most profitable industry in America has been one that doesn’t design, build, or sell a single tangible thing.” The case for why investment banking is socially useless.

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The Billion-Dollar Shack

A reporter heads to Nauru, a tiny island nation in the Pacific, to track down the hub of a worldwide money-laundering operation—a shack filled with computers, air-conditioners, and little else.