Articles

  • Posted Sunday, November 15, 2009 - 8:10pm
    Foreclosed house photo by David McNew/Getty Images.

    We know what you’re thinking: Why isn’t anyone in jail? By the summer of last year, it was clear that the subprime housing market was a catastrophe. Junk mortgages had been offered to janitors or day-care-center operators, and financial institutions had sold the debt to funds. Much of it was garbage. But we thought otherwise—because the credit-rating agencies told us so. Time after time, Fitch, Moody’s, and S&P were asked to evaluate securitized mortgage tranches, on behalf of the very issuers who pay their fees. Time after time, they blessed them with a AAA rating.

    TAP Tagline: 

    Credit-Rating Agencies Caused the Recession. So Why Aren’t They in Jail?

    • Chris Thompson is a writer living in Brooklyn.
    Foreclosed house photo by David McNew/Getty Images.
  • Google Gives Ground on Book Settlement


    Posted Sunday, November 15, 2009 - 3:13am

    Google, in response to authors, publishers, critics, lobbying efforts and renewed focus on antitrust laws in Washington, is changing its tune on books. As the Washington Post writes, the company filed a revised legal settlement that, “scaled back its ambitious plan to digitize books from U.S.

    • Paul Smalera has written for Condé Nast Portfolio, The New York Times and The New York Observer among others. He blogs at true/slant.
  • More Madoff Accomplices Nabbed


    Posted Saturday, November 14, 2009 - 6:13am

    Federal prosecutors have charged two men with providing the technical support that enabled Bernie Madoff to conduct his massive Ponzi scheme. The Wall Street Journal says, “They face a maximum of 30 years in prison for allegedly conspiring to falsify the books and records of the firm, as well as creating programs that enabled Mr.

    • Caitlin McDevitt is an editorial assistant at The Big Money.
  • Wonk Watch 11.13.09

    Posted Friday, November 13, 2009 - 6:18pm

    Brad DeLong tackles the future of the US budget and deficit, but doesn't place much faith in Congress for being able to manage it. He quotes Doug Elmendorf--Director of the Congressional Budget Office--and Matthew Yglesias as they discuss the nation's economic future and the politics that they believe gets in the way. All three focus on medium-term future, between 2012 and 2020.

    • Matthew McKnight is an intern at The Big Money.
  • Nissan's Zero Worship


    Posted Friday, November 13, 2009 - 6:16pm

    Nissan LeafAbove, you can see the business end of a Nissan Leaf, the 100-mile-per-charge, all-electric car that Nissan will begin selling next year (the charging ports are located right between the headlights). I attended a sunsplashed media even in the parking lot of Dodger Stadium today (read: it was toasty hot, even for November).

    • Matthew DeBord has written about the auto industry for the Washington Post, the Los Angeles Times, the Huffington Post, and Car Design News.
  • The Job Interview from Hell


    Posted Friday, November 13, 2009 - 4:32pm

    We've all had them, but Google (GOOG) seems to spawn more than its fair share. Lately, the Googlesphere's been buzzing about some of the search company's notoriously arcane interview questions, which seem designed to simultaneously test your math/engineering skills and unnerve you to see how you'll react under pressure.

    • Chris Thompson is a writer living in Brooklyn.
  • Posted Friday, November 13, 2009 - 3:43pm

     

     

  • Starbucks' Via Boils Over


    Posted Friday, November 13, 2009 - 2:16pm

    Are baristas and customers growing annoyed by Starbucks' (SBUX) "hard-sell" tactics for Via, the new instant-coffee product?

    • Dan Mitchell has written for The New York Times, The Chicago Tribune, The MInneapolis Star-Tribune and Wired.
  • Word of the Week

    Posted Friday, November 13, 2009 - 2:05pm

    The Wall Street Journal had a report this morning about former bank executives starting up “blind pools.” Like “dark pools,” which TBM explained recently, these things sound murky. How do “blind pools” work? Like this: Investors commit money to a certain fund.

    • Caitlin McDevitt is an editorial assistant at The Big Money.
  • Posted Friday, November 13, 2009 - 1:56pm
    School desk by Ryan McVay/Getty Images.

    The Department of Education is having the most decadent Employee of the Month contest ever. On Thursday it released applications for its $4 billion “Race to the Top” program, a competition designed to reward the states most in line with the Obama administration’s educational values. The idea is to bait states into Obama’s reform agenda with the promise of millions of dollars, and then highlight the ones who do it best.

    School desk by Ryan McVay/Getty Images.