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☆ Woman Could Have Prevented Great Recession; Ignored by Wall Street Men
▼ + stars: | 2024-03-04 | by ( Josie Cox | ) www.businessinsider.com time to read: +21 min

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.

Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, —, Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York

The decision also bans Trump from serving as an officer or director of any New York corporation, bans his two adult sons from serving for two years and fines his two adult sons $4 million. The blistering decision from Judge Arthur Engoron effectively eviscerates the business empire Trump built over decades – an empire that fed his ego, cemented his brand and ultimately propelled the real estate mogul to the world’s most powerful political position. “In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements," Engoron wrote. Here, despite the false financial statements, it is undisputed that defendants have made all required payments on time; the next group of lenders to receive bogus statements might not be so lucky. New York means business in combating business fraud.”Engoron anticipated finalizing his decision on damages by the end of January, but two new issues emerged that ultimately delayed the decision.

Persons: Donald Trump, Arthur Engoron, Trump, Justice Potter Stewart, Engoron, Letitia James, –, James, “, ”, he’s, He’s, ” Engoron, Trump's, Allen Weisselberg, pander, Jean Carroll Organizations: Trump, United States Supreme, Donald Trump View, New York, The New York Times, Manhattan, defaming Locations: York, New York, The

A New York judge on Friday ordered former President Donald Trump to pay $364 million in damages for fraud he committed by inflating his net worth to obtain favorable treatment from banks and insurers. The blistering 92-page ruling from Judge Arthur Engoron was replete with references to the brazen nature of the misdeeds of Trump, his adult sons and his business organization. Here are nine key quotes from Engoron’s ruling. The frauds found here leap off the page and shock the conscience.”On the reaction of Trump and his adult sons:“Their complete lack of contrition and remorse borders on pathological. Donald Trump is not Bernard Madoff.

Persons: Donald Trump, Judge Arthur Engoron, Trump, Justice Potter Stewart, ”, “, Bernard Madoff, ’, “ Donald Trump, Trump’s, Ivanka Trump, Rosemary, ” Ivanka Trump, fraudsters, Eli Bartov’s, Bartov, “ John Shubin, Mr, Shubin, Robert Unell, Unell, Birney, Donald Trump’s, Whitley Penn, Donald Bender, Mazars, Allen Weisselberg doesn’t, Allen, Weisselberg Organizations: United States Supreme, Trump Organization, ”, Trump, Deutsche, OAG, trifles, Allen Weisselberg’s Locations: York, ”, New York, ’

WASHINGTON (AP) — One fall day in 2010, retired Supreme Court Justice Sandra Day O’Connor slipped into the courtroom where she worked for nearly 25 years to take in an “amazing” sight. That was pretty amazing.”O’Connor lived to see four women serve at the same time on the Supreme Court. Political Cartoons View All 1277 ImagesO’Connor, who left the court in 2006, died Friday in Phoenix of complications related to advanced dementia and a respiratory illness, the Supreme Court said. “I had never expected or aspired to be a Supreme Court justice. —-Richard Carelli, a former Supreme Court reporter for The Associated Press who is now retired, contributed to this story.

Persons: Sandra Day O’Connor, O’Connor, “, ” O’Connor, Ronald Reagan, Samuel Alito, wasn’t, John, Donald Trump's, Alito, O'Connor, ”, Sandra Day, Bill Clinton, Ruth Bader Ginsburg, “ I’m Sandra, Ruth, ” Ginsburg, Barack Obama, Sonia Sotomayor, David Souter, “ It’s, Obama, Elena Kagan, Trump, Amy Coney Barrett, Ginsburg, Stephen Breyer, Ketanji Brown Jackson, she'd, SCOTUS, ” Ruth McGregor, O’Connor’s, Mary, David Letterman’s, Jon Stewart, John O’Connor, Scott, Brian, Jay, Potter Stewart, Richard Carelli Organizations: WASHINGTON, New York Times, Iraq, College of William, CBS, Supreme, Associated Press Locations: Phoenix, Arizona, Washington, United States, Virginia, Los Angeles

☆ Sandra Day O’Connor, First Woman on Supreme Court, Dies at 93
▼ + stars: | 2023-12-01 | by ( Jess Bravin | ) www.wsj.com time to read: 1 min

Sandra Day O’Connor , the first woman appointed to the Supreme Court and its most powerful justice for much of her tenure, died Friday at age 93. O’Connor, who retired in 2006 after 25 years on the court, died in Phoenix of complications related to advanced dementia and a respiratory illness, the court said in an announcement. Justice O’Connor was an Arizona state judge in 1981 when Republican President Ronald Reagan , fulfilling a campaign pledge to break the male monopoly on the high court, selected her to succeed retired Justice Potter Stewart. She ushered in a wave of women marking “firsts” in the early 1980s, along with America’s first woman astronaut, Sally Ride, and first woman on a major-party presidential ticket, Geraldine Ferraro.

Persons: Sandra Day O’Connor, O’Connor, Ronald Reagan, Potter Stewart, America’s, Sally Ride, Geraldine Ferraro Organizations: Supreme Locations: Phoenix, Arizona

☆ Former US Supreme Court Justice Sandra Day O’Connor dead at 93
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +8 min

[1/5] U.S. Supreme Court Justice Sandra Day O'Connor speaks during an interview with Reuters Editor-in-Chief Stephen Adler at the 92nd Street Y in New York March 15, 2012. Chief Justice John Roberts recalled O'Connor as having "blazed an historic trail as our nation’s first female justice." "We at the Supreme Court mourn the loss of a beloved colleague, a fiercely independent defender of the rule of law, and an eloquent advocate for civics education." Her 1981 appointment by Republican President Ronald Reagan made her the Supreme Court's first woman justice nearly two centuries after the Supreme Court was established in 1789 but her place in history went beyond breaking men-only barriers. The Supreme Court, which has had a 6-3 conservative majority since 2020, overturned the landmark Roe ruling in 2022.

Persons: Sandra Day O'Connor, Stephen Adler, Shannon Stapleton, Sandra Day O’Connor, O'Connor, John Roberts, Roberts, George W, Bush, Samuel Alito, Ronald Reagan, you’ve, Roe, Wade, Republican George W, Democrat Al Gore, O’Connor, Harry, Ada Mae, Rehnquist, John, Warren Burger, Reagan, Jimmy Carter, Justice Potter Stewart, “, Barack Obama, Bill Trott, Daniel Wallis Organizations: U.S, Supreme, Reuters, REUTERS, Rights, Republican, Democrat, Chicago Tribune, Stanford University, Arizona, Democratic, Senate, Ladies, White, Thomson Locations: New York, Phoenix, Arizona, Georgia, Texas, Florida, El Paso , Texas, Los Angeles, San Mateo County , California, United States, West, Reuters Washington

WASHINGTON (AP) — Retired Supreme Court Justice Sandra Day O’Connor, an unwavering voice of moderate conservatism and the first woman to serve on the nation’s highest court, died Friday. When she retired, Justice Clarence Thomas, a consistent conservative, called her “an outstanding colleague, civil in dissent and gracious when in the majority.”She could, nonetheless, express her views tartly. “I had never expected or aspired to be a Supreme Court justice," she said. The retired justice was relieved that he was comfortable and happy at the center, according to her son, Scott. “It has been a great privilege indeed to have served as a member of the court for 24 terms,” the justice wrote.

Persons: —, Sandra Day O’Connor, O’Connor, John Roberts, “, Roberts, ”, John O’Connor, Ronald Reagan, Roe, Wade, Casey, Samuel Alito, George W, Bush, Democrat Al Gore, Clarence Thomas, tartly, unwisely, ” O’Connor, Bill Clinton, Ruth Bader Ginsburg, Mary, Scott, ” Bush, Potter Stewart, Alzheimer’s, Brian, Jay Organizations: WASHINGTON, Senate, Democrat, Iraq, College of William, Office, Legislature, Washington, Republicans Locations: Phoenix, American, ”, Arizona, Vermont, Virginia, Afghanistan, Rose, Los Angeles, United States

☆ When Does a Style Become a Classic?
▼ + stars: | 2023-09-11 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +2 min

When does a style become a classic? I have read all the discussions about whether skinny jeans are still in, but if a particular style is a classic, isn’t it always in? It’s pretty much impossible to pinpoint a moment when a piece of work becomes a classic because the label is one that gets added in hindsight. (Except, perhaps, for the word “pulviscular,” which as far as I am concerned is an instant classic.) One of the reasons a classic is a classic is that it can morph to reflect contemporary styles while never losing its core identity.

Persons: Nisha, Potter Stewart’s, “, ”, you’ll, Lazaro Hernandez, Jack McCollough, Proenza Schouler Organizations: v . Ohio, The New York Locations: New York, v .

☆ Opinion | Kids Know Books About Abuse Are Not Pornography. ‘Moms’ Should, Too.
▼ + stars: | 2023-05-07 | by ( Patricia Mccormick | ) www.nytimes.com time to read: +1 min

Last year, a parent at a Virginia school board meeting stepped up to a microphone and read a passage from my book, “Sold.” The scene she chose to read, informed in part by my own experiences of sexual abuse, describes the sexual assault of a 13-year-old girl by an older man. There is no graphic language or obscenity in the passage; the story is told from the point of view of a child — in the words of a child — and conveys her confusion, terror and physical pain. It made the list thanks, in part, to Moms for Liberty, a right-wing organization that has created a playbook that’s been used across the country — by people who in some case are not even parents — to lobby to have books removed from libraries and classrooms. These challenges are not grass-roots responses to books coming home in students’ backpacks; they are campaigns orchestrated by a national clearinghouse with shadowy funding and apparent links to groups such as the Heritage Foundation. “Moms” in Texas, Florida, Idaho, Pennsylvania and elsewhere have all read the same passage and have used similar language to challenge the book.

Observers often disagree at the time whether the economy is already in recession, and sometimes afterwards whether a recession has occurred or just a “soft patch” in an otherwise uninterrupted business cycle expansion. But the same surveys show the much larger service sector still reporting marginal growth, keeping the economy as a whole out of recession so far. Chartbook: U.S. economic indicatorsThe Institute for Supply Management's (ISM) service sector index stood at 51.9 in April (with more businesses reporting expanding activity than contraction) compared with a manufacturing sector index of just 47.1. In April, the ISM services index was in only the 15th percentile for all months since 1997 compared with the manufacturing index in only the 9th percentile. If the manufacturing sector has already fallen into recession, the services sector is only just avoiding it at the moment.

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