The UK is preparing to criminalize the manipulation of exchange rates and other financial benchmarks. Apparently that was legal until now.
The Zillionaire Oil Trader Selling 'Old-Fashioned Heritage' Crap in Vermont
Max Abelson, a Bloomberg reporter who specializes in stories that make very rich and powerful finance guys look like horrible assholes, today turns his attention to Andrew Hall, the oil trader who received a $100 million annual payday from Citigroup just after the entire global economy collapsed, thereby becoming a…
Yesterday's Wall Street Chaos Captured in Audio
Today marks the second day of Wall Street jitters, with the Dow Jones Industrial Average dropping 350 points this morning before rebounding somewhat this afternoon. It doesn't compare to the freakout that unfolded yesterday, though.
Let's Come Up With A Better Metaphor For Today's Wall Street Crisis
As you are probably aware, the stock market today fell faster than a newborn foal on roller-skates, then rebounded like Shaq on stilts. No, that's not right. Can we think of a better metaphor for what happened today than "roller-coaster?"
Was Today's Stock Market Plunge Caused By a Typo?
Today was a rollercoaster of a day on Wall St. as a massive sell-off sent the Dow plummeting 1,000 points before rebounding a bit. What caused the sudden dip? It might have been one trader's tiny, but huge, typo.
Drudge Report Showcases the Least Sympathetic Populist Rage Ever
Rick Santelli and a bunch of traders are furious! They are outraged at Barack Obama's crazy mortgage plan which will maybe stave off a couple foreclosures. [Update: New video with the best of Rick's rage!]
CNN Captures Forlorn Traders in Rare Gladsome Mood
Every year on Christmas Eve, traders on the floor of the New York Stock Exchange stop their trading to sing "Wait 'Till the Sun Shines, Nellie." It's extra poignant this year, see?
Rating The Media Winners (And Losers)
Although the business media can't sell any ads during an economic meltdown like the one we're having now, it sure is a great chance for reporters to make names for themselves. Business reporters absolutely live for the periodic destruction of the American economy. This is their Normandy! After the jump, we survey the…
The Best Of Sad Floor Traders
No doubt these are sad times. The economy is crashing and burning in a terrific, America-changing (oh and probably the rest of the world too) flameout. No image—not a hobo running for a boxcar, not a Dorothea Lange migrant mother pensively contemplating the fate of all things—captures the ruinous emotions of the past…
26-Year-Old Not-At-All Rogue Trader Named Chip Totally Fired
Things are super-fun in finance right now! Richard "Chip" Bierbaum, who is related to megasocialite Tinsley Mortimer (his stepfather is Tinsley's husband Topper's father's brother! Parse that!), and five of his bosses were cruelly let go from Calyon, the i-bank arm of Credit Agricole SA, over monster losses of $353…
Traders Are Pussies, Too
Overlooked in the brouhaha over the NYT's series about the rich and richer was this gem from yesterday's Post, about Wall Street traders getting laid off as the markets go electronic. The article quotes one Howard Lasher, "veteran trader," as saying that traders are now visiting psychologists because of all the…
