What was made can be unmade.
JPMorgan Chase and Wells Fargo may have venerable names, but they and the pseudo-venerable Citigroup and Bank of America are all products of countless mergers and agglomerations.
There is no rule of markets that requires a financial system dominated by four cobbled-together, lumbering behemoths.
It has been noted repeatedly that almost no top bankers have faced serious consequences for their actions in the financial crisis. But there is a Wall Street corollary that might be even more pernicious: good guys are punished.
After the worst crisis since the Great Depression, President Obama has unleashed an unusual force to regulate the financial system: a bunch of empty seats.
The most notable thing about the first-ever news conference of the Federal Reserve chairman, Ben S. Bernanke, last week was what wasn't discussed: banking regulation.
A former Moody’s analyst describes how the ratings agency’s culture has remained the same, despite pledges to operate differently after the financial meltdown.
About The Trade
Recent Stories by Jesse Eisinger
- Nice Little Agency You Got There
- The Fed Hates To Burst Your Bubble
- The Sorry State of Bank Apologies
- Big Investors Push for Auditors to Sign Financial Statements
- Mary Jo White was Supposed to Turn Around the S.E.C. She Hasn’t.
- Does Valeant’s Cost-Cutting Go Too Far?
- BlackRock Doesn’t Need A Scarlet Letter