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The Subprime Awards: The Saddest, Most Hilarious Tales From a Battered Wall Street
The subprime crisis has massacred the city's banks — and resulted in all manner of juicy details related to the subsequent layoffs. Here we hand down awards for the juiciest of these details.
Why Banking Is a Movement
It's not just a job, it's a mentality, according to the author of the new book, 'Damn It Feels Good to Be a Banker.'
In Tough Times, Wall Streeters Forced to Make Humiliating Lifestyle Changes
Some banks are requiring that their employees cut back on necessities.
Hedgies of the Apocalypse
As the markets decline, hedge funds like Philip Falcone's and John Paulson's still manage to rake in the dough.
The Blame’s on Thain
After a startling $9 billion dollar write-down, everyone is piling on Merrill Lynch CEO John Thain.
Idiot’s Guide: Fannie Mae and Freddie Mac
Who are those farm children anyway, and why are they in trouble?
Ralph Cioffi Hangs On to His Dream House
The indicted Bear Stearns hedge-funder may lose almost everything, but he won't lose that tony Hamptons address.
Citigroup Closes Vikram Pandit's Hedge Fund
Will the CEO now stop smiling?
Jared Kushner Opens Up
The 'Observer' owner learns a little something about life through the incarceration of his father.
In Tough Times, Dick Fuld Keeps the Focus on Fashion
The Lehman Brothers CEO urges staff to dress for the job they want...to keep.
Eliot Spitzer Pimps His New Vulture Fund
On his 49th birthday, we get reports that Spitzer's legal future looks grim, but his financial plan is a good one! Oh, yeah, and he doesn't think the whole hooker thing was that big of a deal.
Spin-Class Shouter Will Not Be Silenced
Stuart Sugarman continues his fight against "spin rage."
Melvyn Weiss Heads to Club Fed
Which is maybe not as plush as we thought!
Suze Orman: ‘Women Hurt Themselves’
The financial self-help guru says that women sometimes get in the way of their own advancement.
Bear Stearns, R.I.P.
Viva the Bear alumni network!
Bear Stearns: Like ‘Titantic,’ But Without Kate Winslet
A new re-creation of the fall of Bear Stearns has Alan Schwartz as the Captain, Bruce Lisman as the Unsinkable Molly Brown, and Ace Greenberg as the string quartet.
Sandy Weill Pulls Golden Carpet From Underneath Charles Prince
In our daily industry roundup, the former Citigroup chairman second-guesses himself on the appointment of successor Charles Prince. And more!
David Holzer Is a Pretty Crappy Friend
An ex–Brean Murray trader stole $16 million from his friends and spent it on bright, shiny things and cars that go vroom. His friends are kind of mad.
AIG's Mess Continues, Right in the Middle of Spring Cleaning
Plus, lawsuits over poop, Andrew Cuomo busting lawyers, and 'USA Today' so wrong, wrong, wrong.
John Thain Boosts Merrill's Hopes, Stock Prices
After his first address to shareholders, the company's stock jumped over 7 percent.