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New York Magazine
Displaying all articles tagged:
fill the swamp
Trump Administration Brings Relief to Long-suffering Predatory Lenders
The Consumer Financial Protection Bureau just gutted another consumer financial protection.
Augustine’s Viennese Wedding Soup Is Like a Middle-European Ramen
Austrian comfort food par excellence.
Progressive 2020 Hopefuls Are Courting Wall Street Cash
But that doesn’t necessarily mean they’re secret centrists.
Wall Street Geniuses Just Can’t Figure Out How Not to Harass Women
#MeToo is “creating a sense of walking on eggshells,” according to one man, who oversees $1.5 billion in assets.
Goldman CEO Is Shocked – Shocked – to Find Fraud Is Going On in Here
CEO David Solomon said that he is “personally outraged” over his bank’s role in abetting financial fraud in Malaysia.
Steve Bannon on How 2008 Planted the Seed for the Trump Presidency
“That lit a match, and the explosion was Trump.”
Sheila Bair on What Hasn’t Changed Since the Great Recession
“The financial system we have is basically the financial system we had in 2008.”
What a Foreclosure-Boat-Tour Operator Saw During the Great Recession
“It breaks my heart to see what I had to do to a guy who had nowhere to go.”
We Are Still Living in the Ruins of the 2008 Crash
Ten years after Wall Street’s doomsday, how the financial meltdown broke the modern world and left us living in this one.
Major Investors Believe a Populist Democratic Government Is Coming
Portfolio managers are trading bank stocks for cash, fearing a Democratic takeover of the House will embolden the party’s progressive wing in 2020.
No, Democratic Populism Won’t Force Republicans to Accept Big Government
Reihan Salam wants Republicans to develop a positive agenda of universal programs the white working class will embrace. It’s not going to happen.
Regulators Fine Wells Fargo $1 Billion for Abusing Consumers
The penalty is the largest that the Consumer Financial Protection Bureau has ever imposed on any lender.
The 4 Biggest Banks Have Already Made $2.3 Billion Off Trump’s Tax Cuts
The president promised that his tax law would not favor the “wealthy and well-connected.”
The Democratic Party Is Moving Left – Except When You’re Not Looking
Senate Democrats’ support for an indefensible bank bill shows that when public interest is low, Wall Street can still run Team Blue’s show.
Goldman CEO Lloyd Blankfein Is Reportedly Preparing to Step Down
More time to let the beard grow.
Trump Bids Good-bye to Gary Cohn — and Empirical Reality
The president’s worst impulses had been constrained by deference to the stock market and corporate America. Now, he’s thumbing his nose at both.
Democrats to Gut Banking Regulations, for Bipartisanship’s Sake
In the Senate, lawmakers put aside their differences, and work together to help banks abuse consumers and jeopardize our financial system.
keeping up with the kardashians
Kylie Jenner Tweets, Snapchat Loses a Billion Dollars
The influencer tweeted that she wasn’t a fan of Snapchat’s recent redesign, which has frustrated users and worried investors.
Kylie Jenner Tweets, Snapchat Loses a Billion Dollars
Her criticism of the app exacerbated investor fears.
Money Manager Busted for Posing As Rival in Online Sex Ads
Cyberbullying hits Wall Street.
Some Wall Street Traders Preparing for ‘Big, Fat Zeroes’ in Bonus Season
Break out the tiny violins.
How a Group of Computer Geeks and English Majors Transformed Wall Street
In the 1980s, a quiet hedge fund located above a Marxist bookstore launched a revolution that would change finance (and give us Amazon).
Wall Street Has Finally Found a Way to Cash in on Sexual-Harassment Stories
A new exchange-traded fund will only invest in major corporations that have strong policies against sexual harassment.
millionaires and billionaires
Billionaire Republicans Privately Diss Trump
“He’s amusing as my friend, but he’s not very amusing as president of the United States. And I’m a Republican.”
Fake Democrat Urges Democrats to Favor Wall Street
Democrats “should strengthen ties to Wall Street,” even though America hates Wall Street.
Bank Responsible for Fearless Girl Statue Settles Gender Pay Discrimination Suit
State Street agreed to pay out $5 million on Wednesday.
Fed Chair Warns Trump Not to Roll Back Wall Street Regulations
Janet Yellen offered a vigorous defense of financial reform on Friday — and may have jeopardized her future at the central bank in the process.
Instead of a Reassuring Senior Communications Director, Trump Chose the Mooch
At a time when the White House could benefit from a steady, respected hand to run the communications shop, Trump went in a very different direction.
Gary Cohn Is the Front-runner to Replace Yellen As Fed Chair: Report
The former Goldman Sachs president could soon lead one of the most powerful regulators of Wall Street.
GOP Congressman Loses $17 Million on Biotech Stock
Chris Collins got House Republicans discounted shares in a biotech firm. Now he’s facing an ethics investigation, and the stock has plummeted.
Goldman Sachs Accused of Giving ‘Lifeline’ to Venezuela’s Socialist Dictator
As Nicolás Maduro’s forces kill protesters and poor Venezuelans starve, the bank’s bond deal put $865 million into the ruling regime’s coffers.
art du jour
Statue Beside It
“It has nothing to do with feminism.”
Markets Start to Wonder If the President Might Be an Incompetent Lunatic
Wall Street was sure Trump would be a disaster, until he won. Now, its blind euphoria at the prospect of tax cuts is starting to fade.
Chaos in Washington Dimming Prospects for GOP Tax Cuts
Congress was already running out of time to enact tax reform this year. Now all hell has broken loose, and Wall Street isn’t thrilled.
Trump Says Infrastructure Plan Is ‘Largely Completed,’ Just Weeks Away
But then, the president says a lot of things.
Republican Uses Obama’s Wall Street Speaking Fee to Justify Dodd-Frank Repeal
A testament to the GOP’s shameless mendacity — and the former president’s misjudgment.
Barack Obama Reportedly Accepts $400,000 for a Wall Street Speech
Obama is poised to make nearly twice his presidential pension for delivering remarks at a conference run by Cantor Fitzgerald.
Why It’s Going to Take Another Financial Catastrophe to Fix Wall Street
The man who oversaw the bailout in 2008 is not optimistic about the banking industry under President Donald Trump.
The GOP Just Voted Against States’ Rights to Shield Wall Street From Competition
Republicans just a passed a bill that expands federal regulation, discourages saving, and restricts competition, for Wall Street’s sake.
Hedge Fund Giant Bill Ackman Admits Valeant Investment Was a ‘Big Mistake’
His firm, Pershing Square Capital, took $4 billion in losses on an investment in pharma company.
After Health-Care Flop, Markets Worry Trump Is ‘All Talk, No Action’
After Trumpcare failed to reach the House floor, Wall Street loses confidence in the president’s capacity to deliver a large corporate tax cut.
The Markets’ ‘Trump Bump’ May Be Over
Stocks saw their steepest drop since Trump’s election, as investors fret about the president’s legislative prowess.
Yet Another Goldman Sachs Banker Is Headed for the Trump Administration
Wall Street sees Deputy Treasury Secretary nominee Jim Donovan as a check on Steve Bannon’s economic nationalism.
Bill Ackman Finally Cuts His Losses on Valeant
The billionaire hedge-fund manager staked his reputation on turning around the controversial pharmaceutical company. That was a bad bet.
This Dude Humping the ‘Fearless Girl’ Statue Is the Actual Worst
“It was utterly revolting.”
Trump Announces Plan to Let Wall Street Scam America Again
Forcing financial advisers to do what’s best for their clients is “like putting only healthy food on the menu,” says Gary Cohn.
For Wall Streeters Who Bet Long on Trump, It’s Bonus Time
After getting behind their very unlikely candidate, a few financiers are salivating over the dividends.
Trump Picks Wall Street Lawyer to Enforce Laws on Wall Street
New Securities and Exchange Commission chairman Jay Clayton does not seem like a drain-the-swamp kind of guy.
The GOP Wants to Drain the Swamp of Wall Street’s Enemies by Any Means Necessary
Richard Cordray can’t be fired without cause from the Consumer Financial Protection Bureau until 2018. But the GOP is determined to find a cause.
Here’s What the Markets Expect From President Trump
Trump’s America will be a great place for banks and for-profit colleges — but not for hospitals — according to the Wall Street hive mind.