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more on the man of the year
4 hours ago ago from The Center of the Universe
[ Skip to the end ] More on the Bernanke testimony: Shortly after the failure of Lehman Brothers, I was in Brazil at an international meeting, and I had a meeting there with bankers, and I asked them how the Brazilian economy was doing. And they said well, it had been doing fine, but within a week after Lehman Brothers collapsed, it was like a frigid wind descended on the economy in Brazil. And there was an enormous impact almost ...
Related contentCIBC Settles ABCP Case
8 hours ago ago from Bank Nerd
Canadian Imperial Bank of Commerce (CIBC) will be paying $22 million to settle allegations of wrong doing in connection with asset backed commercial paper. The Ontario Securities Commission orders that CIBC and CIBC World Markets pay the penalty on Monday December 21st, 2009. The province’s stock market regulator has also ordered that HSBC Bank Canada pay $6 million to settle similar allegations. These banks have also agreed to ...
Related contentBanks Bundled Bad Debt, Bet Against It and Won
8 hours ago ago from Truth is Contagious
Mr. Egol, a Princeton graduate, had risen to prominence inside the bank by creating mortgage-related securities, named Abacus, that were at first intended to protect Goldman from investment losses if the housing market collapsed. As the market soured, Goldman created even more of these securities, enabling it to pocket huge profits. Goldman’s own clients who bought them, however, were less fortunate. WRH permalink
Related contentAn account of Fed mistakes
13 hours ago ago from Mostly Economics
Binyamin Appelbaum and David Cho have a nice write-up on where Fed went wrong in this crisis. This one takes the cake: In January 2005, National City’s chief economist had delivered a prescient warning to the Fed’s board of governors: An increasingly overvalued housing market posed a threat to the broader economy, not to mention his own bank and others deeply involved in writing mortgages. The message wasn’t well received. One ...
Related contentI trust the banks any more
18 hours ago ago from Fortune 500 Global
Handelsblatt : Mr. Poullain, is a market failure, the cause of the financial crisis? Ludwig Poullain: Market failure? This is the worst word. The market works. At best, there are people who have danced on the freedom of the market and thus abused its freedom. HB: What? Poullain: First, of course, the bankers. The nature of banking has changed away from the service provider of business and money, towards ...
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Vietnam Acts to Ease Currency Stress
14 hours ago ago from Wall Street Journal
HANOI -- Vietnam's prime minister has asked seven major state-owned firms to sell all their foreign currency deposits to banks immediately, stepping up efforts to relieve relentless pressure on the country's ailing currency. PetroVietnam, Vinacomin, Vinafood 1, Vinafood 2, Lilama, Vinachem and Southern Airports Corp. will have to sell their foreign currency deposits to banks, buying foreign currencies only when they are needed, the ...
Related content2009 - the year of papering over cracks
7 hours ago ago from ZDNet Blogs
December 24th, 2009 2009 - the year of papering over cracks Posted by Phil Fersht @ 7:34 am Categories: Economy Tags: Polar Bear , Stock , Crack , Stock Market , Investment , Finance , Phil Fersht Most people I speak to can't wait for 2009 to be put to bed. People suddenly awoke to the realization that everything they have grafted so hard to achieve in their lives could be seized from them, because their economy had failed ...
Related contentVietnam’s Niche Marketing Strategy Meets Global Realities
1 hour, 15 minutes ago ago from The New York Times
HO CHI MINH CITY, Vietnam More than most countries, Vietnam has been buffeted by the ups and downs of globalization. A relatively new player on the world economic stage, it benefited from a flood of Western capital and interest in the 1990s and early this decade, only to be devastated by the reverberations of the latest economic crisis in the United States, 7,500 miles away. Vietnam's strategy for competing in the global arena and a ...
Related contentBank Of Japan Saw Deflation Easing At Nov. Meeting - FOXBusiness.com
22 hours ago ago from FOX Business
Existing users please login User Name: Password: Remember me on this computer Home / Markets / Industries / Finance Wednesday, December 23, 2009 Bank Of Japan Saw Deflation Easing At Nov. Meeting  By Michael Kitchen MarketWatch Pulse  LOS ANGELES ...
Related contentIPOs Spend 2009 'Healing' - FOXBusiness.com
2 hours ago ago from FOX Business
Existing users please login User Name: Password: Remember me on this computer Home / Markets Thursday, December 24, 2009 IPOs Spend 2009 'Healing'  By Dunstan Prial FOXBusiness  The 2009 market for initial public offerings was, not surprisingly, a ...
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