Dear Reader,
John Fund, a top editor on the Wall Street Journal's editorial page, sent me this thoughtful column written by Pulitzer-prize winning journalist Walter Lippman, dateline May 16, 1939, written when President Franklin D. Roosevelt was in office.
I urge you to read Lippman's column.
In it you might see some strikingly prescient insights, portents and curious parallels to the ... read more
Emails and documents exclusive to FOX Business reveal serious concern among government officials over potential conflicts of interest involving Bank of New York Mellon in the bailout programs.
FOX Business received the emails and documents after it won a Freedom of Information Act lawsuit against the US Treasury to disclose details of the government's bailout programs.
BONY Mellon is now the ... read more
Top executives at GE Capital, the finance unit of General Electric, told its annual investor meeting today that, even under the worst case scenario outlined in the government's new stress tests for banks, GE Capital should break even this year and that it is well-capitalized.
However, GE Capital, which conducted its own internal stress tests even though it is not a bank and the government is ... read more
One of the brilliant minds at Fox News is James Farrell, an analyst here who tracks and dissects the most complicated business stories.
I'm giving Farrell the floor today because he has insightful, sharp and smart things to say on the news that Fannie Mae (FNM) and Freddie Mac (FRE) will pay retention bonuses to its employees like the ones criticized by lawmakers for employees at AIG (AIG). ... read more
Last fall, Congress held a hearing in October about findings that AIG executives hid from its auditors the extent of its risky products as losses soared in AIG's financial products division, according to information obtained by lawmakers.
Given this potentially fraudulent activity, given that Congress heard about this controversy, given that taxpayers now own 79.9% of AIG, why are taxpayers ... read more
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March 26, 2009 02:29 PM EDT
Back to the Future
Dear Reader, John Fund, a top editor on the Wall Street Journal's editorial page, sent me this thoughtful column written by Pulitzer-prize winning journalist Walter Lippman, dateline May 16, 1939, written when President Franklin D. Roosevelt was in office. I urge you to read Lippman's column. In it you might see some strikingly prescient insights, portents and curious parallels to the ... read more
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