Wachovia Corp. ’s 2008 rescue by Wells Fargo & Co. relied on a tax break that Congress never approved, adding to the cost of U.S. bailouts, according to the vice chairman of a panel investigating the financial crisis.
Bill Thomas, founder of Bill’s Khakis, a 25-year-old, made-in-America sportwear brand worn by President Obama, vice-president Joe Biden, Glenn Beck, and others, discusses his company’s expansion this week into a new line targeted at a younger demographic, Tea Label. Ann Dugan, founder of the Institute for Entrepreneurial Excellence and Assistant Dean of the Katz Graduate School of Business at the University of Pittsburgh, joins in the discussion. Dugan suggests that in order to win over a younger audience Thomas’s team will need to focus on social media as it markets the new line. They speak with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage”.
Goldman Sachs Group Inc. was subpoenaed by the Financial Crisis Inquiry Commission after panel members said the most profitable firm in Wall Street history engaged in a document “dump” to hinder a probe.
The congressionally appointed panel assigned to probe the origins of the 2008 credit crisis heaped blame on “reckless” Wall Street firms and “weak” federal regulators, concluding the meltdown could have been avoided.
Goldman Sachs Group Inc. made Chief Executive Officer Lloyd Blankfein available for an interview with the Financial Crisis Inquiry Commission and has been more responsive to information requests from the panel, the FCIC’s leaders said.