Investors lost while regulators slept
Early in 2003, as word spread of Bernard Madoff’s remarkable financial acumen, French bank Société Générale considered making a sizable investment with him. It sent a team of analysts…
Early in 2003, as word spread of Bernard Madoff’s remarkable financial acumen, French bank Société Générale considered making a sizable investment with him. It sent a team of analysts…
Monday was one of the most wrenching days in the history of the American financial system. One blue-blooded investment bank, Lehman Brothers, sought shelter under Chapter 11 bankruptcy laws, while another, Merrill Lynch & Co., announced it had sold itself at…
Did we say that the Fed’s rescue of Bear Stearns was a “limited bailout.” Yes, we did in an editorial March 18.
Oops. It seems the bailout is now looking bigger. The original plan called for Bear’s shareholder to get a…