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Scenes From A Meltdown

  1. scenes from a meltdown
    Hank Paulson’s Valley of the Dolls MomentAt one point during the early bailout negotiations, the former Treasury secretary nearly turned to drugs.
    By Jessica Pressler
  2. white men with small things between their legs
    You Know What Was Really Lacking at Today’s FCIC Hearings?The thing that puts the circus in media circus.
    By Jessica Pressler
  3. what we have here is a failure to communicate
    Goldman Sachs CEO Says Geithner Never Asked Him About Taking a Haircut on AIG SwapsIt “never came up.”
    By Jessica Pressler
  4. scenes from a meltdown
    CIT Finally Files for BankruptcyTaxpayers can kiss their $2.3 billion goodbye.
    By Adam K. Raymond
  5. white men with money
    CIT CEO Jeffrey Peek Resigns, FinallyHis legacy isn’t looking so good.
    By Jessica Pressler
  6. tragicomedy
    The Pandit-Blankfein Dialogues: Wait, Did I Call You or Did You Call Me?A financial-crisis comedy of errors.
    By Jessica Pressler
  7. scenes from a meltdown
    Who Came Off Best in The New Yorker’s Epic Crisis Story?We pick a winner, because the world needs more heroes.
    By Jessica Pressler
  8. voices carry
    Which ‘Titan of Finance’ Nearly Burst Into Tears During a Phone Call With the Treasury?We know, probably all of them. But one had a particularly difficult time holding it together.
    By Jessica Pressler
  9. scenes from a meltdown
    BBC’s Lehman Brothers Movie Actually Sounds Pretty AwesomeThe British dramatization of the collapse of Lehman Brothers may not be as poncey as we feared.
    By Jessica Pressler
  10. early and awesome
    Treasury Secretary Was Aggressive With RegulatorsPassive aggressive.
    By Jessica Pressler
  11. scenes from a meltdown
    Administration Denies CIT Group Further AidBankruptcy for New York’s small-business lender looks imminent.
    By Jessica Pressler
  12. scenes from a meltdown
    Liz Peek May Not Be a TARP Wife Much LongerNew York–based lender CIT Group is in peril, and so is the anonymous TARP wife’s lifestyle.
    By Jessica Pressler
  13. scenes from a meltdown
    Bankrupt Lehman to Spend $6 Million on Old ChairsEven in death, the storied investment firm has money problems.
    By Jessica Pressler
  14. scenes from a meltdown
    Are We Solving the Financial Crisis the Same Way We Got Into It?There’s a lot of fake money floating around again.
    By Jessica Pressler
  15. scenes from a meltdown
    TARP-Supported Banks Plan to ‘Game the System’ by Buying Each Other’s TrashIt’s Friday, which means there’s news about financial institutions they hope you’ll drink away over the weekend.
    By Jessica Pressler
  16. scenes from a meltdown
    ‘Financial Fool’s Day’ Protesters Attack London Banks With Fruit, Light Sabers, and Their Bare HandsOn the eve of the G20 summit, crowds of people have taken to the streets in London for what one anarchist group called “Financial Fool’s Day.”
    By Jessica Pressler
  17. scenes from a meltdown
    Hedge-Funders React to Possibility of Increased RegulationThey’re a little defensive about being financially profiled.
    By Jessica Pressler
  18. scenes from a meltdown
    AIG Executive Writes Resignation Letter, Tells Edward Liddy Where to Stick ItIt’s better than the scene in ‘The Devil Wears Prada’ where Anne Hathaway throws her cell phone in the fountain!
    By Jessica Pressler
  19. scenes from a meltdown
    Tim Geithner Is Asking for Enhanced Powers“This is an extraordinary time and the government has been forced to take extraordinary measures,” the Treasury secretary said to Congress today.
    By Jessica Pressler
  20. scenes from a meltdown
    White-collar Women Turning to StrippingUm, we’ve heard.
    By Chris Rovzar
  21. scenes from a meltdown
    Treasury Plan Rebrands “Toxic Assets” in Hopes of Selling Them to Private InvestorsInvestors will enjoy the smooth clean taste of ‘legacy assets’ from now on.
    By Jessica Pressler
  22. scenes from a meltdown
    Lehman Brothers Paying Off Debt the Old-fashioned WayThey’re having a yard sale!
    By Jessica Pressler
  23. the rich hunt
    Busload of Crazies to Tour Homes of AIG Executives This WeekendThis is so much worse than the ‘Sex and the City’ bus tour.
    By Jessica Pressler
  24. scenes from a meltdown
    The Howard Beale GenerationOur new era of righteous indignation.
    By Michael Idov
  25. scenes from a meltdown
    AIG Puts Building on the BlockBut it may not do them much good.
    By Chris Rovzar
  26. scenes from a meltdown
    Live-Blogging the AIG Bonus HearingThe juiciest bits of today’s congressional hearing.
    By Jessica Pressler
  27. scenes from a meltdown
    Ricky Gervais to Elmo: ‘Do You Know What Necrophilia Is?’The comedian brings a sunny day to cloudy Sesame Street.
    By Chris Rovzar
  28. scenes from a meltdown
    Bank of America Married a Stranger With SecretsNew, suspicious information about Merrill Lynch has Bank of America rifling through its traders’ belongings, looking for clues.
    By Jessica Pressler
  29. scenes from a meltdown
    Dodd Asks for $500 Billion Credit Line for FDICSo it can bail out the banks who are also receiving Treasury funds.
    By Jessica Pressler
  30. scenes from a meltdown
    Unemployment Up to 8.1 Percent in February651,000 jobs were lost that month alone.
    By Chris Rovzar
  31. scenes from a meltdown
    Citigroup Breaks the BuckOh no.
    By Jessica Pressler
  32. scenes from a meltdown
    AIG Lost $62 Billion, So We’re Giving Them $30 Billion MoreActually that’s not fair. They only wrote down $61.7 billion, which is a whole $0.3 billion less than they were expected to lose.
    By Jessica Pressler
  33. scenes from a meltdown
    Madison Avenue Types Wishing on ‘Chinese Proverb’A chain e-mail is gaining traction among an unlikely group of Manhattanites.
    By Beth Landman
  34. scenes from a meltdown
    Tim Geithner Has to Work Out This Economy Thing All by HimselfNo wonder he looks so nervous all the time.
    By Jessica Pressler
  35. scenes from a meltdown
    Metropolitan Museum of Art Closing StoresNow where will we get the lacquered imitation scarab-beetle brooches we get for Gammy every Christmas?
    By Mary Reinholz
  36. Murdoch: ‘Nations Will Be Redefined and Their Futures Fundamentally Altered’’I AM William Wallace!’
    By Chris Rovzar
  37. scenes from a meltdown
    Bernanke: If Our Plan Works, Then It Will WorkThe Fed chairman sounded a somewhat Rumsfeldian note in his largely gloomy report on the state of the economy this morning.
    By Jessica Pressler
  38. scenes from a meltdown
    Why the Government Is Hesitant About the Whole Nationalization ThingIn a nutshell.
    By Jessica Pressler
  39. scenes from a meltdown
    Meanwhile, AIG Needs to Borrow Another Few Billion or SoIt’s just a loan. It won’t spend it on spas this time. For real!
    By Jessica Pressler
  40. scenes from a meltdown
    McGraw-Hill Kills Book Critical of S&PWriter Barry Ritzholz gets slammed by his publisher for taking down their ratings subsidiary in a book.
    By Hugo Lindgren
  41. scenes from a meltdown
    Greenwich Village High School Won’t Open Next YearThe educational brainchild of a handful of Waverly Inn types didn’t make nearly enough money to start admitting students.
    By Chris Rovzar
  42. scenes from a meltdown
    Long Island Has Its Own Junior-Varsity MadoffWell, maybe it’s more like a Pee Wee Madoff.
    By Chris Rovzar
  43. scenes from a meltdown
    AIG’s Edward Liddy LITERALLY Forfeited His Own Salary, Okay, Cuomo?It’s a self-righteous smackdown!
    By Jessica Pressler
  44. the greatest depression
    Sun Crosses World, Leaving Economic Wreckage in Its WakeAsian markets fell in massive selloffs, followed by European markets. And guess who’s next?
    By Chris Rovzar
  45. We Are Not the Only Ones Obsessed With Neel KashkariThe Craigslist fantasies are already awaiting your fulfillment, Neel.
    By Chris Rovzar
  46. It Was InevitableAnd we can’t believe we didn’t think of it first. A Tumblr blog called ‘Sad Guys on Trading Floors’? Come on!
    By Chris Rovzar
  47. scenes from a meltdown
    Why Did the Rescue Bill Fail?We can think of at least four reasons, right off the bat.
    By Jessica Pressler
  48. scenes from a meltdown
    Dow Down 750 PointsThe Dow records its biggest closing point drop in history.
    By Jessica Pressler
  49. scenes from a meltdown
    Four New York Representatives Voted Against the BailoutDems José Serrano, Kirsten Gillibrand, Maurice Hinchey, and Republican John Kuhl were among those who shot down the bill.
    By Chris Rovzar
  50. scenes from a meltdown
    Citigroup to Buy Wachovia’s Banking OperationsThough the FDIC is quick to assure customers that Wachovia has not ‘failed,’ the government spent the weekend helping Citigroup finance a deal.
    By Chris Rovzar
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