blame game

You lost it because banks are monopolistic monsters. Just ask an affiliate of a corpse and a German state bank. Read more »

  • 14 May 2010 at 12:20 PM

Regulators Focus on Waddell Trade in Market Plunge

We thought Waddell & Reed was swallowed up ages ago by some big bank. But apparently the money management firm is still around. . .and helped to trigger the massive slide in the market last week.

According to an internal CME document obtained by Reuters, Waddell sold 75,000 S&P e-mini futures contracts in a 20 minute span on May 6 during the market crash and subsequent rebound. Read more »

  • 25 Jun 2009 at 5:03 PM

Wall St. Firing Squad Coming Together

The newest manifestation of Congress’ insatiable appetite to play the Wall St. blame game will be unleashed soon. The 10-member Financial Crisis Inquiry Commission will have about 18 months to determine once and for all how last year’s meltdown happened. For those hoping to get in on the fun, it appears as though there are 7 seats left.

A short list of names has emerged for the Financial Crisis Inquiry Commission that includes former Republican presidential candidate Fred Thompson; former Democratic head of the Commodities Futures Trading Commission Brooksley Born; and Alex Pollock, a fellow at the conservative think tank American Enterprise Institute, according to a source familiar with the matter.

Nominees emerge for US panel on Wall Street meltdown [Reuters]