The more it says it can cope with whatever penalties are imposed on it, the more US politicians are entitled to ask whether they are high enough.
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/ 23 January 2010
More details please. On Thursday President Obama declared war on Wall Street — but what would victory look like?
It was a bad plan — but it was a plan. The refusal of the US House of Representatives to back Hank Paulson’s bail out takes us into new territory.
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/ 23 September 2008
If this is the death of Wall Street as we know it, the tombstone will read: killed by complexity.
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/ 25 September 2007
You might have expected Northern Rock to sound apologetic as queues formed outside its branches and its website was overwhelmed. Here is a bank that lent aggressively and tried to grab a big share of the mortgage market. Now its business model has been exposed as fragile and its brand damaged, perhaps beyond repair.