VEA Vice Chair Nell Minow was a guest on the Motley Fool Money podcast this week to discuss Archegos Capital and the failure of due diligence and CEOs and the failure to establish a consistent, brand-supporting message on political issues and campaign contributions.
Tag: wall street
DealBook Briefing: What WeWork Faces After Its C.E.O. Steps Down – The New York Times
Andrew Ross Sorkin writes about the fallout from the collapsing IPO of WeWork, following the semi-resignation of founder Adam Neumann (he is staying on as Chairman), quoting VEA Vice Chair Nell Minow, who appeared with Sorkin on CNBC yesterday to discuss the IPO. His ouster may force a reckoning at several longtime WeWork backers: •…
What the CFPB ‘Commission’ Debate Is Really About | Bank Think
Corporations are happily preparing their wishlists for getting rid of consumer and employee protections under the new administration and the Republican-controlled Congress and Senate. Look for them to be disguised as “reform,” as pointed out in this piece from Adam J. Levitin in American Banker. The financial services industry is pushing hard for Congress to…
Nell Minow Interviews the Authors of “What They Do With Your Money”
VEA Vice Chair Nell Minow interviewed Stephen Davis, Jon Lukomnik, and David Pitt-Watson on their new books, What They Do With Your Money: How the Financial System Fails Us and How to Fix It. Reminiscent of the 1940 classic Where Are the Customers’ Yachts?, this is a reasoned but devastating takedown of the skewing of…
The SEC approved Investor’s Exchange’s (IEX) bid to be a new US stock exchange and fight high-frequency traders — Quartz
Very important news — after brutal, highly politicized delays, IEX has finally been approved by the SEC. The Securities and Exchange Commission (SEC) today voted to allow Investor’s Exchange (IEX) to operate as a public stock exchange. It will be the first public exchange to employ techniques specifically designed to thwart manipulative strategies used by…
The New Agenda For Taking On Wall Street
More than 20 progressive organizations representing millions of voters are putting their weight behind a five-point agenda for the next stage of Wall Street reform. What these groups will formally announce Tuesday, in an event featuring Massachusetts Sen. Elizabeth Warren, sets a high but practical standard for what a candidate would have to embrace to…
Biggest banks are still too big to fail: Fed’s Kashkari – MarketWatch
The nation’s biggest banks remain too big to fail and pose significant risk to the economy, said Neel Kashkari in his debut speech as the president of the Minneapolis Fed on Tuesday. “While significant progress has been made to strengthen our financial system, I believe the [Dodd-Frank] Act did not go far enough,” Kashkari said…
Definition of Chutzpah: WSJ’s Pity for “Demonized” Wall Streeters
Even for the Wall Street Journal, this is over the top. Bret Stephens whines that he just can’t understand why people keep picking on “the most demonized people in America,” people who work on Wall Street. How can that be? All the ones he knows are prodigiously bright and slyly funny, reasonably wealthy but rarely…
Don’t Break Up the Banks. They’re Not Our Real Problem. – The New York Times
One of the real-life Big Short guys says that financial reform is working and we should not break up the banks. More than eight years after the financial crisis, many people say that the large banks still pose a threat to the economy and should be broken up. Such a view captures the justifiable anger…
Wall Street banks report Q4 2015 earnings
Goldman Sachs’ earnings report on Wednesday morning marked the sixth of the ‘Big 6′ Wall Street banks to report Q4 2015 earnings in the past two weeks. The company’s $5 billion settlement with the Department of Justice took a chunk out of Goldman Sachs’ net revenue, as EPS dropped from $4.38 in Q4 2014 to…
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