BankThink

There needs to be stronger incentive for bankers to behave, far-reaching cultural changes spurred by directors and a unilateral commitment to stamp out money-laundering schemes.

Receiving Wide Coverage ...

Did Greg Smith Do Goldman a Favor?: More news outlets are echoing Dealbook's assessment of former trader Greg Smith's purported tell-all "Why I Left Goldman Sachs: A Wall Street Story" by stating that the book, due out today, isn't much of a tell-all at all. The FT says while Smith's account "paints an unflattering picture" of the investment firm, it doesn't "contain any blockbuster discoveries that could to lead to trouble for...

Receiving Wide Coverage ... Times Are a-Changin': Sort of. On the silver anniversary of the Oct. 19, 1987, Black Monday stock market crash, the New York Times and the Wall Street Journal make prominent note of the event. "A Repeat of '29? Depression in '87 Is Not Expected," declared the Journal in a second-day story that it resurrects on its web site this morning. The Times went even gloomier the day after. "Does 1987 Equal 1929?"...

We need more experts who can investigate what happened and identify the perpetrators of attacks rather than simply focus on protecting our critical infrastructure.

Receiving Wide Coverage ...

Citi's Shakeup, Day Two — Receiving Unsolicited Advice and Reassuring Everyone: Yesterday saw the introduction of new CEO Michael Corbat, and today Citi's rolling out the man who installed him atop the bank. Michael O'Neill "represents a new generation" of bank directors, the Times declares, citing his "unusual" decision to visit Citi's trading floors and take a close look at the bank's business lines after he became chairman of the bank earlier...