Initial reports regarding the Deepwater Horizon disaster indicated that BP was self insured for the costs of the massive cleanup efforts that will likely be required for years to come. While BP claims to be willing to pay for all ...
A few months ago, it appeared that the "Volcker Rule" would be defeated in the United States Senate. However, the version that has been adopted in the legislation currently under consideration in the Senate includes enough of the original proposal ...
Who is Li Lu? According to his Wikipedia entry, Li Lu was an organizer of the student protests movement and took part in the Tiananmen Square protests of 1989. After the post-Tiananmen crackdown, Mr. Lu had to flee mainland China ...
Roger Lowenstein is the author of five books covering financial markets. His latest book, The End of Wall Street, was published in April. Mr. Lowenstein is also the author of an excellent biography on Warren Buffett written in 1995 which ...
In the CSPAN video shown below, former President Bill Clinton comments on the SEC charges against Goldman Sachs and provides a brief account of his views regarding the problems with the financial system. Mr. Clinton specifically cites John Bogle’s views ...
At least for now, most air travel restrictions caused by the eruption of the Eyjafjallajökull volcano have been lifted throughout Europe. Earlier reports led many observers to believe that significant insurance claims could result from this event. However, yesterday’s report ...
Burton Malkiel, professor of economics at Princeton University, is the author of A Random Walk Down Wall Street and is currently preparing the tenth edition of the book. In a recent Financial Times interview, Mr. Malkiel insists that the data ...
National Underwriter P&C magazine recently reported that the soft insurance market is showing no signs of reversing as abundant capacity combined with diminished demand combines to keep a downward pressure on rates. This is the seventh consecutive year of soft ...
According to recent reports, the massive volcanic eruption in Iceland is intensifying and showing no signs of abating after forty hours of activity. The ash plume is now 3.7 miles high and has caused major disruptions for air travel in ...
Most companies on a calendar fiscal year have released proxy statements over the past month. In addition to annual reports, intelligent investors must pay close attention to proxy statements to determine the company’s philosophy on executive compensation. Nearly every compensation ...
Robert Rubin received a total of more than $126 million in cash and stock compensation over a ten year period at Citigroup for serving as a board member and as a “strategic advisor” to senior management. However, the role never ...
Former Federal Reserve Chairman Alan Greenspan testified today in Washington before the Financial Crisis Inquiry Commission. We suggested last week that Mr. Greenspan and others who failed to foresee the crisis should simply accept responsibility and play a role in ...
Perhaps no other government policymaker has suffered as much reputational damage due to the housing collapse as former Federal Reserve Chairman Alan Greenspan. Mr. Greenspan has defended his record in recent months and recently published a paper outlining his views ...
In a video interview with The Economist, Justin Fox talks about his latest book The Myth of the Rational Market. Among other topics, Mr. Fox discusses the efficient market hypothesis, index funds, financial market bubbles, value at risk models, and ...
In a quirk that is causing a great deal of heartburn on Wall Street, the Bureau of Labor Statistics will release the March Employment Situation Report on Good Friday, April 2, 2010. The stock market will be closed for the ...
It is so fashionable these days to read stories about a rising China and declining America that any contrarian feels almost provoked to offer a rebuttal. However, it is increasingly difficult to do so at a time when the Chinese ...
It appears that the Volcker Rule is meeting a quick demise in the United States Senate only one month after it was initially proposed. the Volcker Rule is designed to limit the proprietary trading activities of commercial banks. A common ...
During the hurricane season, the news media often reports forecasted losses even before a storm makes landfall. The same was not true during the epic blizzards that impacted the Mid-Atlantic states earlier this month. While there were a number of ...