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Bankers, Brokers and Bandits
Bankers, Brokers and Bandits
Looking at past financial crises, through the eyes of people who went through them, helps us better understand what this one means, and where we might be headed. Hear this special series of interviews.
Music featured in the "Bankers, Brokers and Bandits" series: "Borgnine Krupa" performed by "We Stain Porcelain" for the album "The First Flush Compilation"
Laid Off and Better Off
Friday, October 17 2008
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Bankers, brokers and bandits: Laid Off and Better Off
Jim Piccillo
Jim Piccillo spent long days in the mortgage banking industry working towards his dreams of a corner office, BMW, huge house, and exotic vacations. Those dreams were shattered in August when he was laid off. Though money is tight, Jim now says that being laid off was the best thing that ever happened to him. He spends more time with his two young daughters, has rediscovered his faith, and he is about to launch a new home-based business.
Contact UsTrader by Day, Drummer by Night
Thursday, October 16 2008
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Trader by Day, Drummer by Night
Chris Stewart
Chris Stewart is a stock trader in Chicago who thrives on the intensity of ups and downs in the market. Lately, he's been getting all the intensity he can handle. But Chris has his own way of handling the pressure: he wrangles his way onto the stage with rock bands to play percussion. Now he's a semi-regular performer with the Dave Mason band and has met many of his boyhood idols.
- Check out Dave Mason's band
- See some photos of Chris playing the drums
Soul of a Scandal
Wednesday, October 15 2008
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Soul of a Scandal
Diane Buckshnis
Diane Buckshnis remembers another time when the economy suffered because of the decisions of financial leaders, regulators, and politicians: the 1980s Savings and Loan debacle. Diane was a government examiner when she got assigned to the case that would become the symbol of the S & L scandal - the Keating case. Diane talks with host Dick Gordon about what she learned working on the infamous Keating case and what she thinks about today's financial meltdown.
Losing the Bank
Tuesday, October 14 2008
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Losing the Bank
Joe Rusnak
Today we begin a special series looking at the financial crisis through the eyes of people who've been there.Â
Joe Rusnak helped found a bank in a small town in Ohio. As he tells Dick Gordon, it was his baby -- until a financial storm hit: the network of banks to which Joe's bank belonged got caught up in a fraud scandal. The governor shut down 71 banks, including Joe's. It was the low point of Joe's professional life. Then out of nowhere, Chase Manhattan contacted Joe to buy his bank on extremely favorable terms. The bank was saved but at the price of losing its soul. Joe left after a year, and he is happy to be retired completely from the banking business now.
The Perfect Switch
Jim Shaw
The story of former bank executive Jim Shaw is the mirror image of Joe Rusnak's. Jim remembers when he was called into a secret meeting and told to pack his bags, hit the road, and take over a bank that had just gone belly up. Jim's team was given from five o'clock on Friday afternoon until 8 o'clock Monday morning to make a seamless transition. Jim talks with Dick about the pressure to pull off the perfect switch.
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