Daily Archives: January 21, 2010

John Gapper

Before Barack Obama said anything today about his second Glass-Steagall, the story was evident from who stood next to him, and who was banished down the row of public officials.

To President Obama’s right was “this tall guy”, the 6′ 7″ Paul Volcker, who has until today been a lone voice in his administration calling for structural reform on Wall Street. Further along was Tim Geithner, the Treasury secretary, who has until now resisted it in favour of tighter regulation. Read more

John Gapper

Back to Irene Rosenfeld, who despite her degree in psychology, appears to have upset an awful lot of people with Kraft’s £11.6bn takeover of Cadbury.

Having made herself unpopular in the UK by acquiring the maker of Cadbury’s Dairy Milk and the Curly Wurly, she has alienated Warren Buffett, her biggest shareholder, who regards it as “a bad deal”. Read more