On this year in 2008, Lehman Brothers, filed for bankruptcy. The firm’s stunning collapse—it was the largest corporate bankruptcy in American history—precipitated the demise of the global financial system and the onset of the Great Recession. Founded in the mid-1800s, Lehman Brothers had a good run, and donated a lot of money to politicians in an effort to advance its vision. Hillary Clinton, for example, was a top recipient of Lehman Brothers cash.
The Wall Street Journal reports on yet another shady connection between Hillary Clinton, a major foreign corporation, and the Clinton Foundation. Here is the gist:
Vox has written an insightful explainer on why buying a certain brand of shoe doesn’t necessarily make you a good person. The piece also, perhaps unintentionally, explains a lot about the young liberal hipsters who read Vox.
Hillary Clinton has a problem. She is seeking the presidential nomination of a party that, at least superficially, doesn’t think very highly of Wall Street. Her Democratic rival Bernie Sanders, for example, is a principled liberal who voted against the controversial TARP bailout in 2008 (which Hillary supported), and supports legislation to break up big banks. Hillary, however, believes Wall Street is actually pretty good, especially when it comes to funding her political campaigns, paying her lots of money to give speeches, and donating to the Clinton Foundation.
Elizabeth Warren is trolling Hillary Clinton again. The liberal darling tweeted a not-so-subtle jibe aimed at the Democratic frontrunner on Thursday, touting the support of Hillary’s opponents for a lobbying reform bill authored by Sen. Tammy Baldwin (D., Wis.).
Wall Street bankers prefer Hillary Clinton over Bernie Sanders by a wide margin, a Free Beacon analysis has found. In the second quarter of 2015, here’s how much money each candidate reported receiving from employees of Goldman Sachs, Morgan Stanley, JPMorgan, Citigroup, Blackstone, and individuals listing their employer as “hedge fund.”
Clinton son-in-law Marc Mezvinsky a terrible hedge fund manager. You shouldn’t give him your money, unless you’re more interested in gaining political access to the Clintons than you are in earning an actual financial return on your investment. On second thought, what’s the difference?
Major Hilary Clinton donor JPMorgan Chase announced Thursday it would lay off more than 5,000 employees over the next two years. The move would eliminate roughly 2 percent of the company’s workforce as part of an overhaul aimed at replacing human tellers with automated technology.
POLITICO reports that former Lehman Brothers CEO Dick Fuld, speaking publicly for the first time since the 2008 financial crisis that caused his former firm to declare bankruptcy, offered a decidedly unapologetic take on his role in the risky trading practices that precipitated the crisis: