Posts Tagged ‘Wall Street’

A closer look at Mr. Richard Whitney. This week on Your Financial Editor.

Thursday, October 31st, 2013

Take a deeper look into the life of Richard Whitney, from president of the NYSE to crook.  A man whose actions led to the securities regulations we find today.  Join my guest, Malcolm MacKay, and I this Saturday as we discuss his book, Impeccable Connections: The Rise and Fall of Richard Whitney.

Listen from anywhere by logging onto WFMD and clicking the listen live button – Saturday morning at 8:00 on AM 930 WFMD.

About this week’s guest:


Malcolm MacKay is a lawyer and businessman who, as a boy and young man, knew Richard Whitney in his post-prison years. MacKay has thought about Whitney, and why he did what he did, all his life. A graduate of Princeton and Harvard Law School, he lives in Brooklyn, New York.

A raw, visceral “behind the scenes” look at Lehman Brothers’ financial meltdown and collapse. This week on Your Financial Editor.

Wednesday, October 17th, 2012

My guest this week was a brilliant, obsessive trader at Lehman Brothers before its collapse. Jared Dillian will take us through a colorful account of the final years of the financial firm, from 9/11 at their Ground Zero offices through the firm’s bankruptcy, including vivid portraits of  the insane trading-floor culture, the financial meltdown, and the company’s ultimate collapse.  His book, Street Freak: A Memoir of Money and Madness is a must read!

Listen from anywhere by logging onto WFMD and clicking the listen live button – Saturday morning at 8:00 on AM 930 WFMD.

About this week’s guest:

Jared Dillian graduated from the United States Coast Guard Academy in 1996 with a B.S. in Mathematics and Computer Science, and from the University of San Francisco in 2001 with a Masters in Business Administration, concentration in Finance. Jared worked for a small floor market maker on the Pacific Options Exchange from 1999-2000, and was a trader for Lehman Brothers from 2001 to 2008. He specialized in index arbitrage and ETF trading. Jared is the author of Street Freak: Money and Madness at Lehman Brothers, published by Simon and Schuster, which was named the number one general business book of 2011 by Bloomberg Businessweek.

Idiots in the Park

Friday, November 18th, 2011

Yesterday I had a meeting in the financial district of New York City.  It just so happened that the office building where my meeting took place was right beside Zuccotti Park (the owner of the building also owns the park), where the Occupy Wall Street (OWS) protesters are based.  So, even though I had already been exposed to some of the riff raff the previous day when I was at the New York Stock Exchange, I couldn’t pass up the chance to walk over to the park and see first-hand what the “movement” is all about. 
Now, I have to admit that I have been following the protesters with moderate interest, however, once I arrived in New York, the subject was everywhere…front page of the newspapers, television news reports, radio reports, and of course seeing the protesters in person.  I am a strong supporter of free speech, and I assumed that the OWS folks would get their message together, have an organized agenda, rely on some intelligent, well-spoken representatives to convey that message, and move forward. 
Boy was I wrong!  The people I saw in Zuccotti Park and in other areas are just on an extended vacation and trying to stretch their 15 minutes of fame.  NYC Mayor Michael Bloomberg (who is a gutless, no-backbone billionaire), finally had the NYPD clear the park for sanitary reasons.  The protesters, along with their tents, sleeping bags, trash, etc. were booted from the park, to their extreme displeasure.  The filth and health hazards they created were so bad that water cannons had to be used to return the park area to acceptable conditions.  While conducting their cleaning, the NYC sanitation employees found drug paraphernalia (dozens of needle syringes), pipe weapons and other hazardous trash items.
When I walked over the park, a man was standing in the front line of the protesters holding a sign about equality.  I was OK with that, but then he opened his mouth and started shouting “ %&$#?! the sanitation workers…The NYC sanitation workers are scabs”!
And there it was, plain as day 10 feet away from me.  Some ignorant protester was cursing and demeaning a blue-collar worker for simply doing his job (and doing it well, I might add – the park looked great).  So what did this over-sized oaf (he looked like Shrek) want?  Was it to punish the so-called 1%?  Or, was it just his (their) insecurity and entitlement attitude that drove them to these protests looking for way to force the redistribution of income and wealth?
Can you imagine what this guy would do if offered the opportunity to handle any substantial amount of money?  I mean, if he won’t support the city worker who is doing his job (and cleaning up the protestors’ mess because they went to the bathroom in Zuccotti Park where they were ate and slept), why would we believe that he would give money to a church food pantry, a home for abused children, a water treatment project for a village in Africa?
They are the 99% all right…99% idiot!

Banker’s thriller unmasks real risks to financial markets, this week on Your Financial Editor

Thursday, August 25th, 2011

My guest this week drew on his extensive experience in global markets and advising governments, companies and financial institutions around the world to write a fascinating fictional story of the very real risks our financial markets still face!

Join me this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

H.T. Narea is a graduate of Georgetown University’s School of Foreign Service and has focused his career on global emerging markets, advising governments, companies and financial institutions around the world on debt restructuring, infrastructure projects, M & A, private equity, debt trading and syndicated finance.

The meltdown of Wall Street…will it happen again? This week, on Your Financial Editor.

Thursday, September 30th, 2010

Did Wall Street become a self-serving and ultimately destructive profit machine?  Chasing Wall Street’s best player, Goldman Sachs has been the trend for the last two or three decades; should they continue to mimic the actions of the top players?  Find out this week with Chris and his guest, Suzanne McGee, author of Chasing Goldman Sachs, How the Masters of the Universe Melted Down Wall Street…and Why They’ll Take Us to the Brink Again.

Join us this this Saturday morning at 8am on AM 930 WFMD, or listen from anywhere on your pc by logging onto and clicking the listen live button.

About the author:

Suzanne McGee is the contributing editor at Barron’s.  Previously on staff for the Wall Street Journal, she is a veteran reporter on the financial markets, having also written for the New York Post, Institutional Investor,, and the Financial Times.  McGee regularly appears on Bloomberg Television, and is a Loeb Award winner for a multimedia series on consumer culture in China.

Wall Street Survives No Matter What is Thrown at It…

Wednesday, May 5th, 2010

Wall Street.  A name and place that everyone in the developed world recognizes…have you ever visited Wall Street?  It is a wonderful place, and I highly recommend a visit if you ever have the opportunity.  Wall Street was formalized in 1792 by traders and speculators who had, informally, gathered for years to conduct business in our wonderful country.  How important was Wall Street in its earlier days?  Well, 1789, George Washington took the oath of office on the balcony of Federal hall overlooking Wall Street on April 30th, 1789 during our first U.S. presidential inauguration.

Wall Street, and all of lower Manhattan, has grown and for 25 years has been the financial heart of the world.  It seems no matter what is thrown at it; market crashes, scandals, horrific terrorist attacks, political meddling, etc., Wall Street continues to not only survive, but thrive.  I feel that the U. S. financial markets are the most efficient “man-made” things on earth.  They can prove more people wrong in a single day than anything else I have ever seen.  Wall Street doesn’t care about your age, sex, nationality, or pedigree.  I have seen people totally broke by the market in one day no matter if they were a blue collar worker who decided to “play” with his family’s life savings or a multi-billionaire who thought the market was going to “zig” and instead it “zagged”.   Wall Street has taken, and of course created, fortunes in a shorter time than it takes to read this blog.  That my friend, is what makes the financial markets, and Wall Street in particular, so fascinating – I for one am very proud that we have her.

Is Wall Street all good?  Absolutely not.  But what is?  Is our country all good, our society, the church, business, your cooking all good?  Of course not.  but, just like with all of those things (less some peoples’ cooking), there is much, much more good than bad.  Let’s face it, unfortunately the media does a great job of emphasizing all of the negatives in the world.  I can say that our financial markets and most financial markets offer wonderful opportunities.  Should the occasional greedy Wall Street guy or girl be beaten in the town square?  Sure – but so should the dentist who tells you that you need a filling when you really don’t, so he can fill his pockets.  Or the HVAC guy who says you need a whole new furnace when you really just need a good duct cleaning.  Or the guy you bought your last car from, who used a power drill to reverse the miles on the odometer.  My point here is, do these things happen?  Yes they do.  But there many more honest, credible, and genuinely nice people in the world that we all come across and do business with.

There is a lot of political hay being made right now at the expense of those who work on Wall Street, and you, the investor.  I have said for some time now that the damage coming out of Washington D.C. to our economy and financial markets is fifty-fold of what is being done by those dishonest few on Wall Street.

Friendship, Betrayal, and High-stakes Games. Inside Lehman Brothers – this week on Your Financial Editor!

Thursday, April 29th, 2010

Chris Murray - Host of YFE

They were the Rat Pack of Wall Street.  Four best friends, a decorated war hero, an emotional hippie and two regular guys with big hearts and dreams.  This week on Your Financial Editor, Chris Murray and his guest will take you deep inside the rise and fall of the oldest partnership on Wall Street, Lehman Brothers.  You will get an insider’s view of the main players, their friends and families, and the treachery, greed and corruption that tore them apart.  Saturday morning on AM 930 WFMD or listen from your PC on

About this week’s guest:

Vicky Ward is the author of  The Devil’s Casino, a remarkable novel about four men who dreamed of being “the good guys of finance” on Wall Street.  Ms. Ward not only takes you inside the financial world, but inside the culture, the families, and the rivalries that led to the fall of Lehman Brothers.  She has been a contributing editor to Vanity Fair since 2001, and specializes in investigative reporting.  She is also a weekly contributor to the Huffington Post and a contributor to CNBC.  Her work has appeared in many high profile publications, and she has profiled CIA agent Valerie Plame, Morgan Stanley, Brooke Astor and Kate Moss and many other well-known figures.  Ms. Ward is native Briton, holds a master’s degree from Cambridge University, and has lived in New York City since 1997.