NEW YORK (Reuters Breakingviews) - Deutsche Bank was credited with coming through the 2008 crisis in better shape than many of its rivals. Jain, who rose from running the German lender’s global markets business to eventually become CEO, stopped by Times Square to speak with Rob Cox about the state of finance.
NEW YORK (Reuters Breakingviews) - Is global finance complicit with Saudi Arabian tyranny? Following the alleged assassination of a journalist critical of the kingdom, that’s the question leaders of the world’s biggest banks and investment firms must ask themselves before they fuel up their jets and head to Crown Prince Mohammed bin Salman’s “Davos in the Desert” in just over a week. From a strictly moral perspective, if they believe a scintilla of what has been put forward by Turkish authorities, they should bow out. But it’s not that simple.
NEW YORK (Reuters Breakingviews) - The founder of Oaktree Capital, with $120 bln of assets, doesn’t see signs of an imminent correction or crisis. But investors, particularly in the credit markets, are acting bullish in ways they’ll inevitably regret when the cycle turns, Marks told Rob Cox earlier in October.
NEW YORK (Reuters Breakingviews) - The presidency of the Richmond Fed, whose territory included two top U.S. banks, offered a unique window on the financial crisis. Wachovia needed rescuing and BofA’s deal to buy Merrill Lynch nearly collapsed. Lacker reflects on what went down and where finance is headed.
NEW YORK (Reuters Breakingviews) - Even before Lehman Brothers went belly-up, the U.S. Treasury was hatching a contingency plan. Kashkari was one of the architects of the Troubled Asset Relief Program, which plugged some $250 bln into banks. He joins Rob Cox from his current perch running the Minneapolis Fed.
NEW YORK (Reuters Breakingviews) - When General Electric decided in January 2016 to abandon its headquarters in Connecticut’s leafy suburbs for bustling Boston, the industrial company seemed in the best shape in years. The stock had quadrupled from financial-crisis lows, and GE was worth nearly $300 billion. Jeff Immelt, the chairman and chief executive, was finally putting the dark days to rest by wrapping up the biggest takeover of his tenure, the $11 billion purchase of French power group Alstom.
NEW YORK (Reuters Breakingviews) - As the chief executive of Citigroup, Pandit engineered the bank’s rescue and recovery from the crisis ten years ago. He swung by Times Square to discuss lessons learned, the things that still worry him and where he’s placing his bets on the future of the financial industry.
NEW YORK (Reuters Breakingviews) - On the day Lehman Brothers went belly-up, Merrill Lynch sold itself to Bank of America. As president of the “Thundering Herd,” Fleming was the architect of that transaction. In conversation with Rob Cox, he defends the deal, reminisces on the crisis and discusses his new venture.
NEW YORK (Reuters Breakingviews) - The biggest question left unanswered since the great financial crisis erupted 10 years ago is the following: Are some banks too big to fail? It can’t be solved because no major U.S. financial institution has come close to collapsing in the decade that followed Lehman Brothers’ failure. Only a true calamity, the conventional wisdom goes, will test the mettle of watchdogs, central bankers and politicians.
NEW YORK (Reuters Breakingviews) - Over the next few weeks, Breakingviews will publish columns and features, produce a series of podcasts and hold a special live event to mark the 10-year anniversary of the global financial crisis. Some readers may consider this overkill. We beg to differ, for a simple reason: When people forget what went awry in 2008, they risk repeating the errors of the past.