ERCOT Calls On Texans To Conserve Power Amid High Summer Demand, Forced Outages
Mose Buchele, 14 June 2021
The Electric Reliability Council of Texas has asked people to conserve energy throughout the week as the supply of electricity on the Texas grid runs the risk of falling short of demand.
Texans should reduce their electricity use through Friday, ERCOT said.
It is the second time the state’s grid operator has made such a request since devastating blackouts gripped Texas in February. Continue reading “Article: ERCOT Calls On Texans To Conserve Power Amid High Summer Demand, Forced Outages”
Credit Suisse Tries to Overhaul Its Image, but Problems Remain
William D. Cohan
New York Times, 23 June 2016
Wall Street’s efforts to overhaul its culture since the 2008 financial crisis that nearly bankrupted the world’s economy have not been a resounding success, despite calls by prominent regulators to stop rewarding bad behavior.
William C. Dudley, the president of the Federal Reserve Bank of New York and one of Wall Street’s most important overseers, has twice held closed-door sessions at the bank, located in downtown Manhattan, to urge top banking executives to overhaul the behavior inside their companies. His goal has been to get bankers to think about what they should do instead of what they can do and get away with.
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William D. Cohan, a former senior Wall Street M&A investment banker for 17 years at Lazard Frères & Co., Merrill Lynch and JPMorganChase, is the New York Times bestselling author of three non-fiction narratives about Wall Street: Money and Power: How Goldman Sachs Came to Rule the World; House of Cards: A Tale of Hubris and Wretched Excess on Wall Street; and, The Last Tycoons: The Secret History of Lazard Frères & Co., the winner of the 2007 FT/Goldman Sachs Business Book of the Year Award.
William Cohan Home Page
How Wall Street’s Bankers Stayed Out of Jail
The probes into bank fraud leading up to the financial industry’s crash have been quietly closed. Is this justice?
by William D. Cohan
Any narrative of how we got to this point has to start with the so-called Holder Doctrine, a June 1999 memorandum written by the then–deputy attorney general warning of the dangers of prosecuting big banks—a variant of the “too big to fail” argument that has since become so familiar.
. . .extracting large settlements paid with shareholders’ money is not the same as bringing alleged wrongdoers to justice.