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A familiar face from a past economic disaster could be on the verge of profiting off the current Silicon Valley Bank calamity. SVB, taken over by the Federal Deposit Insurance Corporation at the request of California regulators, is arguably the second-biggest bank failure of its kind in America — but that clearly doesn’t mean there aren’t ways to capitalize off of its collapse. According to a report from Bloomberg, the managers of the investment banking arm of Silicon Valley Bank, SVB Securities, are seeking a “management buyout of the business.” They are reportedly looking to expedite a deal because regulators...

Major institutions should be broken up if necessary, Greenlight manager says NEW YORK (MarketWatch) -- Greenlight Capital manager David Einhorn said Monday that his hedge-fund firm is betting on the possibility of a major currency collapse and a surge in interest rates, citing ballooning government deficits in some of the world's most developed countries.The hedge-fund manager, who warned about Lehman Brothers' frailty before it collapsed last year, also said financial institutions that are deemed as "too big to fail," such as Citigroup Inc. /quotes/comstock/13*!c/quotes/nls/c (C 4.57, -0.02, -0.38%) , should be broken up. ReutersDavid Einhorn of Greenlight Capital. Greenlight has...

Ten years ago this week, I was in Madrid on a Monday afternoon, watching as some of the 26,000 employees of Lehman Brothers spilled onto a Manhattan sidewalk, their mighty investment bank suddenly non-existent. As I could plainly see, this was no mere American crisis: the streets around me were already filling with Spanish and Central American workers forced to walk away from construction projects where work had halted, permanently, their U.S. and European bank financing having suddenly vanished. Over the next couple of days, the world economy ground to a halt, some of the mightiest financial institutions of the...

WASHINGTON -- The Securities and Exchange Commission tapped Goldman Sachs Group Inc. executive Adam Storch on Friday to serve as the agency's first-ever chief operating officer of the enforcement division. The new hire represents the latest personnel change at the SEC in its effort to improve its operations following its failure to detect Bernard Madoff's massive Ponzi scheme. Enforcement Division Director Robert Khuzami created Mr. Storch's position of managing executive as part of the major re-structuring effort he announced earlier this year. Mr. Storch will oversee division operations that include budget, information technology and administrative services. He will also supervise...

Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in a coma when a string of big bank executives were arrested and sent to prison. No, what actually happened is one of the most powerful attorneys in the nation came up with a mealy-mouthed, cowardly rationale for why he let these financial thieves off the hook. Crain’s reports: Bharara was nowhere to be found when it came to charging the top executives whose...

With Ohio’s Republican presidential primary just days away, Donald Trump is taking aim at the state’s governor, rival GOP presidential candidate John Kasich, in a new attack video. -snip- “After John Kasich helped Wall Street predator Lehman Brothers destroy the world economy, he decided to run for governor of Ohio,” the narrator of the Trump ad says. “John Kasich has been an absentee governor, spending most of his time everywhere but Ohio. Especially Michigan, the latest disaster in his failing presidential bid. Kasich gave Ohio Obamacare and increased our budget more than any other governor in the U.S.”

Donald Trump came out in full force against Ohio Gov. John Kasich in his home state on Saturday, accusing him of destroying the coal industry, knocking his involvement in Lehman Bros. and saying he is weak on immigration, among a slew of other criticisms. He also denounced Kasich for supporting the Trans Pacific Partnership trade agreement and the North American Free Trade Agreement.

Republican presidential candidate Donald Trump on Saturday blamed rival John Kasich for the economic collapse and the North American Free Trade Agreement (NAFTA). “Kasich was a managing director” at Lehman Brothers, Trump said at a rally in Dayton, Ohio, on Saturday. “He was right in there dealing with the big boys, all the people who dealt the horrible decisions." Trump ripped Kasich earlier this week for his time at the investment bank, claiming that the Ohio governor “helped Wall Street predator Lehman Brothers destroy the economy.” “He voted for NAFTA,” Trump said Saturday.

Donald Trump officially added John Kasich to his list of "no-action, all-talk politicians" Friday afternoon, hitting the Ohio governor harder than usual in his first attack ad against him. The 30-second spot, first tweeted out by Trump, will air throughout the Buckeye State, according to the Trump campaign. The ad comes just days before Ohio's primary on Tuesday and claims Kasich "helped Wall Street predator Lehman Brothers destroy the world economy" and criticizes the Ohio governor for spending time in states other than his own. Kasich joined Lehman's investment banking division as managing director in 2001, working there until the...

Republican Ohio gubernatorial candidate John Kasich tried to persuade two state pension funds in 2002 to invest with Lehman Brothers while he was the managing director of the investment banking house’s Columbus office. In a reply to questions, Kasich campaign officials acknowledged that the former Columbus-area congressman helped arrange the two meetings between Lehman officials and representatives of the Ohio Police and Fire Pension Fund and the Ohio Public Employees Retirement System, known as OPERS.

Jeb Bush And John Kasich’s Work At Lehman Spotlights Different Revolving Door Between Business and Government. Republican presidential rivals Jeb Bush and John Kasich bring to their campaigns their experience as governors of major battleground states, but they also share a resume line from their time in the private sector. The Florida and Ohio pols both worked at the ill-fated Wall Street investment bank Lehman Brothers just as the firm was racking up vast losses for their states' respective pension systems. While Kasich has denounced Wall Street greed and Bush has criticized lawmakers who become lobbyists, during their time at...

Ohio Gov. John Kasich loves talking about his record in office, his knack for balancing the budget and his controversial decision to back Medicaid expansion. But there's one part of his resume he's less inclined to discuss: the years he spent as a senior executive at Lehman Brothers. Kasich joined Lehman's investment banking division as managing director in 2001, working there until the firm's collapse in September 2008 unleashed global panic and served as the catalyst for the financial crisis. The Republican governor's past work at arguably the most deeply vilified Wall Street firm -- so despised that in the...

Donald Trump released a blistering new ad slamming John Kasich in Ohio on Friday, hitting him for his past ties to Lehman Brothers and absence from his home state while on the campaign trail. “After John Kasich helped Wall Street predator Lehman Brothers destroy the world economy, he decided to run for governor of Ohio," a fast-talking narrator intones. -snip- The video then cuts to a map of the U.S., with states where Kasich has spent a great deal of time and resources campaign shaded in blue, with a red question mark over Ohio. "John Kasich has been an absentee...

The Federal Reserve has put forward new rules aimed at addressing one of the primary causes of the 2008 financial crisis -- the financial exposures that the biggest banks had with each other. The Fed is proposing new limits on that exposure. It hopes the new rules will prevent the type of crisis that engulfed the U.S. financial system in September 2008 when the collapse of Lehman Brothers raised fears about the stability of other banks that had made loans to Lehman. [...] The rules would implement a portion of the Dodd-Frank Act passed by Congress in 2010 in response...

-snip- As president of the United States, I will use all the powers of my office to disrupt the political culture of a dysfunctional Washington, D.C. We need to clean house and it must start by eliminating the crony capitalism that is pervasive throughout the federal government. There are tens of billions of dollars of corporate welfare subsidies tucked into the federal budget. -snip- The influence peddling industry in Washington will fight every step of the way to defend their fiefdoms and special favors. It is going to take a president with a stiff spine and a proven record of...

Donald Trump's latest comments earned him a rebuke from a Jeb Bush spokesman for "trafficking in false conspiracy theories" about the former investment bank Lehman Brothers, where Bush worked for a stint after leaving the governor's office in Florida in 2007. Amid Trump's 33 attacks against the Bush family in a 35-minute interview with The Washington Post, he managed numerous times to drop his suspicions that Bush's high salary from Lehman was a "reward for helping direct Florida state funds to the firm, whose collapse in 2008 helped kick off the Great Recession," The Post reports. "That’s a Hillary Clinton...

Ohio Gov. John Kasich and Sen. Ted Cruz are millionaires. Their Republican primary opponent Scott Walker, the governor of Wisconsin, may be in debt. The disparity in wealth in the Republican presidential primary was on display Monday, as the Federal Election Commission released personal financial disclosures filed by three of the GOP presidential contenders. The candidates are required to report details about their finances in order to qualify for the first 2016 primary debate, which will be hosted by Fox News in Cleveland on Thursday. Cruz, who has spent most of his life working in government, listed at least $2.1...

Obama's cconomic narrative of the mortgage crisis gnores the facts. He has put free-market capitalism at the root of the current mortgage industry debacle, denying the real history of government interference in that market. On September 15, with banking giant Lehman Brothers filing for bankruptcy protection, Obama was given the opening to begin weaving his anti-capitalist storyline. And that he did. Artfully blurring the mortgage industry crisis with generalized tax policy, Obama declared, "I certainly don't fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It's a philosophy we've had for the last...

Democratic Presidential candidate Barack Obama was quick to blame the bankruptcy of Wall Street giant Lehman Brothers on Republicans’ “failed philosophy”. Obama’s September 15 comments were repeated throughout the media--yet reporters have not noted Obama’s glaring conflict of interest—the Lehman debt owed to a bank owned by the financier who loaned millions of dollars to Tony Rezko.

As it sought to recruit well-heeled investors, an untested and unprofitable Miami company named InnoVida brought aboard a trusted Florida figure in 2007: Jeb Bush, the former governor and the brother of a sitting president. For potential stockholders, the imprimatur of Mr. Bush, who joined InnoVida as a paid consultant and a member of the board of directors, conferred credibility on the young start-up. That credibility did not last long. It turned out that the leaders of InnoVida, a manufacturer of inexpensive building materials, had faked documents, lied about the health of the business and misappropriated $40 million in company...