Before joining the Silicon Valley Bank as the Chief Administrative Officer (CAO) in 2007, Joseph Gentile served as the Chief Financial Officer (CFO) at Lehman Brothers’ Global Investment Bank before the public collapse in 2008.
The best that Sam Bankman-Fried could hope for at the start of this week was that his crypto exchange FTX would turn out to be the equivalent of Bear Stearns. Instead, it turned out to be Lehman Brothers.
Germany is facing a “Lehman Brothers” collapse that could spark a domino effect leading to a severe recession, the economy minister warned.
NEW YORK — In the midst of a public relations nightmare, White House Deputy National Security Adviser Dina Habib Powell took charge of Goldman Sachs’s global charitable foundation, helping to resurrect the big bank’s shattered image after Goldman was implicated in practices that contributed to the financial crisis of 2007-2008.
Puerto Rico’s world-record $116 billion bankruptcy filing represents a massive liability risk for auditors who will likely demand that highly-indebted states — such as Connecticut, Illinois and California — disclose more liabilities, write down assets, and curtail debt issues.
Following the U.S. Justice Department’s demand for $14 billion to settle a mortgage-backed securities probe, several big hedge funds moved their derivative holdings from Deutsche Bank to other firms to avoid the risk of another Lehman Brothers-style liquidity squeeze.
Republican presidential candidates Donald Trump and Ohio Governor John Kasich got into a confrontation over taxes and Kasich’s time at Lehman Brothers at Wednesday’s Republican part two presidential debate on CNBC. Kasich said, “I’m the only person on this stage
China’s stock market had what traders call a “Dead Kitty” bounce on Thursday as the communist authorities dispatched police and security personnel to “encourage” insider-buying and to arrest short sellers. With the Chinese market still highly inflated even after falling $3 trillion in value, China took action last night to “nationalize” about $6 trillion in losses.
Gasparino: If Jeb won’t tell you what Jeb exactly did while working on Wall Street, in the interests of transparency and disclosure, I will try.
International reserves, which measure global savings available for financial market investment, have fallen twice this century: once in the first quarter of 2009, and once in the fourth quarter of 2014. That most recent reserve drop is causing some analysts to warn that conditions for a crash may be building.
China’s Shanghai futures market crashed by the maximum 10 percent, and trading was suspended on January 19th, while Shanghai Composite Index fell by 7.7 percent. Both events were the worst day of trading since shortly after the Lehman Brothers bankruptcy launched the financial crisis six years ago.
