The Risks of Speaking Out About Wall Street's Risk-Taking

Tuesday, September 14, 2010

Not many people on Wall Street were willing to speak out about the excessive risks that they saw on Wall Street as the financial meltdown began. Louise Story, Wall Street and finance reporter for our partner, The New York Times, tells the stories of two men who pointed out the risks they saw, and paid the price for it.

Bank Analyst Richard Bove was sued by Bank Atlantic after he published a report. He recently won his legal case.

Ilya Eric Kolshinsky was an executive at the ratings agency Moody's. He filed suit on Monday, saying that after he testified in front of Congress about how ratings were assigned to collateralized debt obligations before the financial metldown, his former employer tried to damage his reputation.

Leave a Comment

Email addresses are required but never displayed.