Even as millions of people have lost their jobs during the pandemic, the soaring stock market since the spring has delivered outsize gains to the wealthiest Americans. And few among the superrich have done as well as corporate executives who received stock awards this year. Edward Stack, chief executive of Dick’s Sporting Goods, and William … Read more
By Bill Dudley After the U.S. financial system came to the brink of collapse in 2008, Congress and regulators spent years on renovations designed to prevent that from ever happening again. More than six months into a global pandemic that has delivered another monumental shock, it’s worth asking: Were the reforms successful and sufficient? The … Read more
By Jeanna Smialek and Deborah B. Solomon WASHINGTON: As the coronavirus began shuttering the global economy in March, critical parts of US financial markets edged toward collapse. The shock was huge and unexpected, but the vulnerabilities were well known, the legacy of risk-taking outside of regulatory reach. To head off a devastating downward spiral, the … Read more