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Louise Story


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Third-Party Descriptions

July 2007: Journalist.

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RoleNameTypeLast Updated
Employee/Contractor/Fellow/Freelancer (past or present) New York Times Source Dec 1, 2012
Student/Trainee (past or present) Yale University Organization Jul 27, 2007

Articles and Resources

27 Articles and Resources. Go to:  [Next 7]

Date Fairness.com Resource Read it at:
Dec 01, 2012 As Companies Seek Tax Deals, Governments Pay High Price

QUOTE: states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains. The cost of the awards is certainly far higher....A portrait arises of mayors and governors who are desperate to create jobs, outmatched by multinational corporations and short on tools to fact-check what companies tell them....Many of the officials said they feared that companies would move jobs overseas if they did not get subsidies in the United States. Over the years, corporations have increasingly exploited that fear, creating a high-stakes bazaar where they pit local officials against one another to get the most lucrative packages.

New York Times
May 31, 2011 S.E.C. Case Stands Out Because It Stands Alone

QUOTE: How Mr. Tourre alone came to be the face of mortgage-securities fraud has raised questions among former prosecutors and Congressional officials about how aggressive and thorough the government’s investigations have been into Wall Street’s role in the mortgage crisis.

New York Times
Apr 27, 2011 A.I.G. to Sue 2 Firms to Recover Some Losses

QUOTE: A.I.G. is preparing several suits against banks, like Bank of America and Goldman Sachs, that created the $40 billion in mortgage bonds… The company says it believes the banks issued misleading statements about the quality of the mortgages within those bonds.

New York Times
Apr 10, 2011 JPMorgan Accused of Breaking Its Duty to Clients

QUOTE: While the clients lost nearly all their money, JPMorgan collected nearly $1.9 billion from Sigma’s demise, according to the suit. That’s because as Sigma’s troubles worsened, JPMorgan lent the vehicle billions of dollars and received valuable assets in the form of a security deposit.

New York Times
Dec 11, 2010 A Secretive Banking Elite Rules Trading in Derivatives

QUOTE: Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk. In theory, this group exists to safeguard the integrity of the multitrillion-dollar market. In practice, it also defends the dominance of the big banks.

New York Times
Jul 29, 2010 Citigroup Said to Pay $75 Million in Subprime Case

QUOTE: Citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis, according to two people briefed on the settlement.

New York Times
Jul 19, 2010 Goldman Employee Denies Fraud

QUOTE: Days after Goldman Sachs agreed to pay $550 million to settle securities fraud claims, a midlevel employee of the bank filed a 13-page reply denying the charges and sought dismissal of the case.

New York Times
Jun 29, 2010 In U.S. Bailout of A.I.G., Forgiveness for Big Banks

QUOTE: When the government began rescuing it from collapse in the fall of 2008 with what has become a $182 billion lifeline, A.I.G. was required to forfeit its right to sue several banks — including Goldman, Société Générale, Deutsche Bank and Merrill Lynch — over any irregularities with most of the mortgage securities it insured in the precrisis years.

New York Times
May 18, 2010 Clients Worried About Goldman’s Dueling Goals

QUOTE: Goldman’s bets against WaMu, wagers that took place even as it helped WaMu feed a housing frenzy that Goldman had already lost faith in, are examples of conflicting roles that trouble its critics and some former clients. While Goldman has legions of satisfied customers and maintains that it puts its clients first, it also sometimes appears to work against the interests of those same clients when opportunities to make trading profits off their financial troubles arise.

New York Times
May 12, 2010 Prosecutors Ask if 8 Banks Duped Rating Agencies

QUOTE: The New York attorney general has started an investigation of eight banks to determine whether they provided misleading information to rating agencies in order to inflate the grades of certain mortgage securities, according to two people with knowledge of the investigation.

New York Times
May 04, 2010 Crisis Panel to Probe Window-Dressing at Banks

QUOTE: It’s an open secret on Wall Street that many big banks routinely — and legally — fudge their quarterly books. But now Washington is taking a hard look at a range of maneuvers that help banks dress up their financial statements, and raising some uncomfortable questions about banks’ bookkeeping.

New York Times
Apr 23, 2010 Rating Agency Data Aided Wall Street in Mortgage Deals

QUOTE: One of the mysteries of the financial crisis is how mortgage investments that turned out to be so bad earned credit ratings that made them look so good. One answer is that Wall Street was given access to the formulas behind those magic ratings — and hired away some of the very people who had devised them.

New York Times
Apr 16, 2010 S.E.C. Accuses Goldman of Fraud in Housing Deal

QUOTE: Goldman Sachs, the Wall Street powerhouse, was accused of securities fraud in a civil lawsuit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly intended to fail.

New York Times
Apr 12, 2010 Lehman Channeled Risks Through ‘Alter Ego’ Firm

QUOTE: It was like a hidden passage on Wall Street, a secret channel that enabled billions of dollars to flow through Lehman Brothers. In the years before its collapse, Lehman used a small company — its “alter ego,” in the words of a former Lehman trader — to shift investments off its books.

New York Times
Mar 31, 2010 Pay of Hedge Fund Managers Roared Back Last Year

QUOTE: in a startling comeback, top hedge fund managers rode the 2009 stock market rally to record gains, with the highest-paid 25 earning a collective $25.3 billion, according to the survey, beating the old 2007 high by a wide margin.

New York Times
Oct 05, 2009 Report on Bailouts Says Treasury Misled Public

QUOTE: The inspector general who oversees the government’s bailout of the banking system is criticizing the Treasury Department for some misleading public statements last fall and raising the possibility that it had unfairly disbursed money to the biggest banks.

New York Times
Jun 11, 2009 Bank Chief Tells of U.S. Pressure to Buy Merrill Lynch

QUOTE: ... Kenneth D. Lewis, Bank of America’s embattled chief executive, walked into yet another Congressional hearing room...lawmakers turned the spotlight on personalities who were not seated in the chamber: the federal officials who had pushed him to complete a troubled merger with Merrill Lynch late last year, despite knowing that huge losses riddled the once-mighty Wall Street firm.

New York Times
Jun 10, 2009 U.S. Saw Problems on the Way at Merrill

QUOTE: The documents provide a glimpse into the government’s role in one of the most controversial moments of the financial crisis — the hastily arranged acquisition of Merrill by Bank of America. While that deal saved Merrill and averted a financial firestorm, it left Bank of America scrambling to deal with a company whose losses were far greater than it had bargained for.

New York Times
Jun 07, 2009 U.S. to Propose Wider Oversight of Compensation

QUOTE: The Obama administration plans to require banks and corporations that have received two rounds of federal bailouts to submit any major executive pay changes for approval by a new federal official who will monitor compensation...part of a broad set of regulations on executive compensation...

New York Times
Dec 18, 2008 On Wall Street, Bonuses, Not Profits, Were Real

QUOTE: Merrill’s record earnings in 2006 — $7.5 billion — turned out to be a mirage. The company has since lost three times that amount, largely because the mortgage investments that supposedly had powered some of those profits plunged in value. Unlike the earnings, however, the bonuses have not been reversed.

New York Times

27 Articles and Resources. Go to:  [Next 7]