Stock market news today September 13

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10 years after the financial crisis, Wall Street
pessimist Albert Edwards thinks we’re at risk of another major
meltdown

It’s been 10 years since the bankruptcy
of Lehman Brothers triggered a
devastating financial crisis, and not everyone is convinced we’re
in a much better place.

The outspoken Societe Generale
strategist Albert Edwards is
one of those people. Known for his long-running, often outlandish
bearish forecasts,
Edwards is not impressed with the progress we’ve made. Or,
perhaps more accurately, he’s skeptical of the progress
we think we’ve made.

Drawing much of Edwards’ ire are central bankers. Sure, their
accommodative policies helped dig the US out of the hole it dug
for itself in and before 2008, but Edwards argues that they’re
culpable in causing the ordeal. They ignored warning signs and
dismissed anyone who raised concerns, he says.

Goldman Sachs announces major leadership shakeup as
incoming CEO David Solomon picks his team

Goldman Sachs announced a big shakeup to its leadership team
Thursday
as incoming CEO David Solomon moved to put his management team in
place before taking over from Lloyd Blankfein.

Goldman named John Waldron, one of three co-heads of the
investment banking division, to president and chief operating
officer, and effectively Solomon’s No. 2, according to memos the
firm sent to employees today. Waldron’s new role will become
effective Oct. 1.

Stephen Scherr, the head of the consumer and commercial banking
division, will become as chief financial officer, as CFO Marty
Chavez shifts to become one of three co-heads of the securities
division.Upstart exchange IEX snags its first listing from Nasdaq

The ex-Barclays CEO once dubbed the ‘unacceptable face of
banking’ thinks banks should be taking more risks today

With the 10-year anniversary of the collapse of Lehman Brothers
just two days away,
many key figures from the financial crisis have taken the
opportunity in recent days to reflect on their part in it.

Most have spoken of their regrets from the time, but largely
struck a positive tone on the changes to the financial system
that have occurred since then to make the world safer.

Former Barclays CEO Bob Diamond has struck a slightly different
tone, however. He said in an interview on Thursday that banks
need to be taking more risks today, not fewer.

Citigroup has found a new way to offer hedge funds
obscure data that can give them an edge 

Alternative data sets aren’t so alternative anymore.

At least according to Citigroup, which last
week started giving clients access to data collected and analyzed
by Thinknum, a four-year old startup which provides insights
into a company’s health that aren’t readily available from
conventional sources like financial reports and economic
indicators.

The banking giant becomes one of the first on Wall Street to give
its clients access to one of the myriad vendors that have sprung
up in the last few years selling obscure data sets.

In markets news