Word: bankses
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The S&P 500 financials sector has lost 45% this year. I don't think it's because the financial sector's fundamentals worsened by 45% in six weeks. We cut the value of financial stocks in half mainly because our leadership created a run on the bank stocks by...
Twenty years after revolution swept communism from Eastern Europe, the region is in the middle of another maelstrom. The global economic crisis has hit countries like Latvia, Hungary and Poland particularly hard. Eastern Europe's boom over the past few years was fueled in part by heavy borrowing from Western...
But not acting could end up costing Western capitals more than helping out. That's because Western banks have huge exposure to emerging European economies, either directly or through local subsidiaries. Austrian banks alone have a more than $293 billion exposure to Eastern Europe, roughly 80% of the Austrian GDP...
All eyes are now on the G20 summit, to be held in London on April 2. "One way to shore up investor confidence and stop the wholesale sell-off would be to get a coordinated response from the G20," says Shearing. "The market is being driven by fear and panic...
Nor is this massive influx of Harvard undergraduates into the financial sector a recent phenomenon. For more than two decades, investment banks and consulting firms have had a firm chokehold on the postgraduate dreams of many ambitious Harvard students. Renowned journalist Jennifer 8. Lee ’98-99 has...