Cash for gamblers: Government bankrolls hedge fund bets

The Wall Street Journal reports today that large banks have resumed lending money to hedge funds and other institutional investors. A closer look at this at this development reveals painful conflicts and new depths of fraud perpetrated against taxpayers.
The Wall Street lending machine, also known as the prime brokerage business, exists because commercial banks that [...]

The Wall Street Draft: How to Revive Interest in a Financial Career among Students

Over the last two decades, much has been made about Wall Street firms attracting the best young intellectual talent from our nation’s top colleges and universities.  In a different era, the business, finance and economics majors were funneled into management training programs at General Electric or IBM.  Engineering majors designed planes for Boeing, weapons for [...]