Andrew Ross Sorkin uses his column today to highlight to troubles of those suffering the most from the downturn: the CEOs of major banks who bought up failing competitors in the midst of the financial crisis. Jamie Dimon, J.P. Morgan’s CEO, get center stage for having to deal with Bear Stearns’ legal liabilities, but Sorkin also has some tears for Wells Fargo, which bought up Wachovia, and Bank of America, which took over Merrill Lynch.
|By: Dean Baker Tuesday October 16, 2012 7:20 am|
|By: masaccio Sunday May 27, 2012 10:52 am|
It’s stupid to say that repeal of Glass-Steagall was irrelevant to the Great Crash. I wonder which sell-out economists are whispering in the ears of pundits.
|By: masaccio Tuesday October 4, 2011 11:30 am|
Andrew Ross Sorkin isn’t afraid but balanced journalism requires him to imagine that Occupy Wall Street could turn violent and threatening and stuff.
|By: Scarecrow Tuesday July 26, 2011 12:30 pm|
Without acknowledging it, Mr. Sorkin is simply giving credence to a favorite Tea-GOP talking point, that Tim Geithner has more than enough revenues coming in to pay the interest and principal on bonds and other sovereign credit obligations. So there is no risk of “default” and it’s irresponsible scaremongering to tell granny she might not see her Social Security checks or get Medicare. The market can do the math, and that’s why investors have not panicked yet.