law

A friend passed me a URL now which led me to a few posts over at Bronte Capital and at Felix Salmon's blog at Reuters about a firm connected to the Biden family called Ponta Negra. T here may be a connection here to the alleged Stanford…

Over the past few days, I have written two posts regarding the increasingly acrimonious sparring surrounding Bank of America's acquisition of Merrill Lynch. The horrible self-dealing of Ken Lewis and the principal-agent problem BofA…

The Wall Street Journal is running a front-page story about John Thain today in which he  accuses Bank of America CEO Ken Lewis of lying about events surrounding the Bank of America - Merrill transaction and the ouster of Thain as a top…

Ken Lewis, the embattled CEO of Bank of America, has recently admitted to being coerced by U.S. Government officials to consummate the Merrill Lynch acquisition. The problem for Lewis is he may have neglected his fiduciary responsibility…

Marshall Auerback here. Remind me again what Larry Summers was talking about when he spoke of the US as being a "nation of laws", where "sanctity of contract" is sacrosanct? In a case of first impression that could have far-reaching…

This comes via the website The Agonist (Hat tip Scott).  I have bolded the important bits: So what are AIG’s arguments for making these bonus payments? All 450 employees of AIG in London, where the derivatives contracts were booked and…

The AIG employees who are the subject of so much venom because they have received massive bonuses while their organizatio is being propped up by $170 billion in taxpayer money are not even in the United States. They are in London.

The large bonuses at AIG have sparked yet another wave of revulsion amongst American taxpeayers. And rightfully so. This company has cost taxpayers $170 billion and counting and yet the bonuses of the same individuals complicit in the…

Last summer, as a number of sinister revelations were made about the goings-on in the financial services sector, I speculated that we would definitely see the government going after individual executives for illegal activities. I saw…

The Wall Street Journal video gives the scoop.