business writer and former Wall Street investment banker
William Cohan is an American business writer and former Wall Street investment banker. A former columnist for Bloomberg News, he is the author of Money and Power: How Goldman Sachs Came to Rule the World and the forthcoming Why Wall Street Matters.
Wall Street is welcomed back to Washington After financial disaster in 2008, President Obama distanced himself from "fat-cat bankers." Candidate Donald Trump roasted Hillary Clinton's ties to Wall Street. But as President, he's recruited a Who's Who of alumni from hedge funds, J.P Morgan Chase -- and especially Goldman Sachs -- as economic advisors. He says he'll relieve the financial industry of "burdensome" regulations. But critics are asking: what about all those promises to working people? Politicians and pundits may be demanding answers, but we hear that Trump supporters don't care about his advisors -- if he can "Make America Great Again."
Barclays, LIBOR and Banking Culture The latest global financial scandal may be the biggest of all, involving a benchmark used to set interest rates for contracts worldwide. It's the London Interbank Offered Rate, or LIBOR . As the world learns more about international banking, one public policy expert calls it a "cheating culture." We hear about the growing LIBOR scandal and what it might mean for $350 trillion in contracts -- from multi-national business and municipal government bonds down to mortgages and student loans. Photo: Bob Diamond, then-CEO of Barclay's UK, speaks at the World Economic Forum Annual Meeting in Davos, Switzerland, January 27, 2012.
The LIBOR and Why It Matters The London Interbank Offered Rate , or LIBOR, is what banks charge each other to borrow money, and it's not just for financial wonks and accountants. It's also used as a benchmark to set rates for $350 trillion in contracts: commercial loans, home loans, car loans and credit cards, including yours. Now it turns out that major banks may have manipulated the LIBOR for their own profit. Are they being run by a "cheating culture?" Would regulation of the latest global financial scandal help or should bankers be required to risk their own money, not everybody else's?
Remembering George H.W. Bush A balanced look at George H.W. Bush includes: the smear campaign that won him the White House, his successes in war and diplomacy, and his almost forgotten role as an environmental president. Also what lies ahead for the UK, if there’s no agreement on Brexit?
Heading for the fire exit Thousands of Californians are spending the holidays deciding what to do next after devastating wildfires. The Camp Fire – in northern California – took out nearly an entire town, killing at least 86 people. And the Woolsey Fire, closer to home, left 3 people dead, chewing through nearly 100,000 acres in L.A. and Ventura Counties. Ken Pimlott knows those names all too well. He heads up the California Department of Forestry and Fire Protection, and today is his last day on the job.
It’s a wonderful state California’s story needs a rewrite, and Zocalo Public Square commentator Joe Mathews knows just the man for the job.
One Year Later: Rebuilding from the Thomas Fire This week marks one year since the Thomas Fire descended on the city of Ventura. It burned more than 500 homes within city limits. Since then, roughly half of those properties have received the green-light to start construction, but only a handful have actually broken ground. We visit one neighborhood where some of the first homes are getting rebuilt.
