Profile of Greg MacSweeneyEditorial Director
Member Since: 5/8/2014
Blog Posts: 734
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology.
Articles by Greg MacSweeney
posted in April 2009
CBS News is reporting that a Justice Department criminal investigation is trying to figure out just how AIG crumbled. Sources say investigators are digging into whether Joseph Cassano, the former head of London-based AIG Financial Products, and two of his top deputies -- Andrew Forster, an executive vice president, and Thomas Athan, a managing director -- committed securities fraud and other federal crimes.
Crucial regional banks are expected to fail the Fed's "stress tests," reports CBS News' Priya David and investors are waiting for more details that will be release later today.
Today it's harder to rely on share volume as a stock-market indicator than it used to be, says Tim Mahoney, chief executive of BIDS Trading. Mahoney says we are witnessing a transformation in the marketplace as "the role of the market maker has moved from a person to a computer."
Ever since taxpayer money was handed out to U.S. banks, the question has been "where did the money go?" TARP warns that one out of ten bailout dollars could be lost to fraud, amounting to possibly $100 billion or more.
Many banks are expected to fail the "stress test," leading the market into a tumble, reports CBS News correspondent Priya David.
A critical watchdog report out this morning on the Troubled Asset Relief Program (TARP) says Tim Geithner's Treasury Department needs to do a better job of tracking how banks are using TARP money.
John Garvey, partner at PricewaterhouseCoopers, discusses whether more job losses lie ahead, specifically in the financial sector, as well as how financial firms are completely restructuring their business.
A little more than 11 months ago I wrote a blog that called for 9 percent unemployment by May 2009. At the time, the forecast received some criticism - mostly from people in denial about the severity and depth of the financial crisis. Well, it looks like 9 percent national unemployment is a reality, but if you read on, there is good news to report as well.
As the G-20 gets underway, regulation is the big theme, and countries are starting to pledge their support to do what's necessary to help their economies.
Google has formed Google Ventures, a $100 million venture capital fund that will invest in new technology companies in a broad range of industries.