Word: principall
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The role of proprietary trading - when banks buy and sell investments for their own accounts rather than their clients - and other principal investments in the financial crisis is getting new scrutiny. On Thursday, Feb. 4, the Senate Banking Committee held its second hearing in a week on President Obama's...
The intern, of course, wasn't the only one who was risking the firm's dollars. McDonald, himself a relatively junior trader, had a Lehman-funded trading account of $450 million. In the years leading up to the financial crisis, Lehman Brothers built up huge positions in real estate, derivatives...
But academics and economists and even some Wall Streeters say proprietary trading and other principal investments played a much larger role in the losses that were at the heart of the financial crisis. What's more, if the firms had been barred from using their own money to buy mortgage...
This is comparable to what is happening in America’s inner-city school system, and is a reality for many of the children who attend such schools. The teachers, and many students, realize that the educational system is failing them, and that they are ill prepared to face...
Okay we're totally kidding, but he did share the stage at the Guggenheim with some of ballet’s biggest stars—namely Damian Woetzel, a former principal dancer at the New York City Ballet and recent Kennedy School grad who was nominated by Obama to serve...