“Floyd’s killing sparked widespread protests in the streets and calls for racial justice in Fortune 500 boardrooms. But while corporate America’s official responses often felt like crisis PR disguised as philanthropy, Netflix’s approach stood out.”
COBOL, an old coding language that not many people know about, controls the world’s financial systems.
What a 19th-century scammer can teach us about women, lying, and economic boom-and-bust cycles
In 2016, Wells Fargo paid a $185 million fine for alleged fraud on its own customers without an admission of guilt. Has anything changed?
A man receives a non-negotiable junk mail check for $95,093.35 in the mail, and decides to deposit it in his bank account as a joke. It actually clears his account: The first friend I phoned informed me that it was no mistake at all. Just standard bank policy, crediting my account with the dollar amount […]
The Bank of England’s Andrew Haldane on banking, risk and how to bring social and financial equity back into the system: Consider the effects of the too-big-to-fail problem on risk-taking incentives. If banks know they will be bailed out, those holding their debt will be less likely to price the risk of failure for themselves. […]
The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma — investors and counterparties would shun firms that used the central bank as lender of last resort — and that needy institutions would be reluctant to borrow in the next crisis. Clearing House Association fought Bloomberg’s lawsuit up […]