Lehman Brothers

Dina Powell’s Global Foundation Helped Polish Goldman Sachs’ Shattered Image

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.

Dina Powell

Puerto Rico Bankruptcy Puts Pressure on California, Illinois, Connecticut

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.

Puerto Rico protest (Spencer Platt / Getty)

Deutsche Bank May Be on Verge of Lehman Brothers Moment

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.

Deutsche Bank (Hannelore Förster / Getty)

Watch: Trump, Kasich Spar Over Taxes, Lehman Brothers

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 Just Nationalized $6 Trillion of Stock Losses

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.

Mao (Greg Baker / AFP / Getty)

Crash Alert: International Reserves Fall First Time Since Lehman Brothers

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.

The Associated Press