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Global Financial Crisis (2008-2009)

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The 'Alchemists' Who Control The Purse Strings Of The Economy

In a new book, Washington Post economics writer Neil Irwin looks at an elite group of policymakers from around the word who manage the money supply, and explains how money can come from -- and disappear into -- thin air based on the decisions of these influential men and women.


'Sutton': America's 1920s, Bank-Robbing 'Robin Hood'

In his first novel, J.R. Moehringer writes from the point of view of Willie Sutton, whom he calls the "greatest American robber." Moehringer says writing historical fiction helped him deal with the anger he felt toward banks after the global financial crisis in 2008.


Did The Fed Help Banks While Ignoring The Risks?

The Federal Reserve shrugged off warnings and let banks pay shareholders billions of dollars in dividends last years, despite warnings from the Federal Deposit Insurance Corp. ProPublica investigative reporter Jesse Eisinger says banks should have been forced to set aside the money as a rainy-day cushion.


How The Financial Crisis Created A 'New Third World.'

In Boomerang, writer Michael Lewis tells the stories of the countries hit hardest by the 2008 financial crisis. He also profiles some people who bet against European governments and are likely to make millions if and when they default.


Rating The Wall Street Ratings Agencies

When Standard & Poor's recently lowered the U.S. government debt rating for the first time in history, it set off a firestorm of criticism, from the Obama administration to Wall Street. The downgrade raised questions about the influence of S&P and other agencies, which also faced blame in the financial crisis of 2007-'08.


Why Prosecutors Don't Go After Wall Street.

New York Times financial reporter Louise Story explains how guidelines issued by the Justice Department in 2008 have allowed prosecutors to take a softer approach to corporate crimes. To this day, no high-level executive has been charged in a case related to the 2008 financial crisis.


How Some Made Millions Betting Against The Market

ProPublica reporters Jake Bernstein and Jesse Eisinger recently won the Pulitzer Prize for their stories about the banks and hedge funds that realized what was happening to the U.S. economy while it was happening -- and then made vast fortunes by betting against the markets and creating fake demand.


Untangling The Complex Foreclosure Mess.

After the housing bust, banks hired many people to handle foreclosure paperwork -- and many mistakes were made. New York Times columnist Gretchen Morgenson explains what the paperwork mess means for the banking industry and the economy.


Reich Blames Economy's Woes On Income Disparity

Economist Robert Reich argues that the economy isn't going to get moving again until we address a fundamental problem: the growing concentration of wealth and income among the richest Americans. He explains his fears for America's economic recovery in Aftershock: The Next Economy and America's Future.

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