Word: bankses
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The role of proprietary trading - when banks buy and sell investments for their own accounts rather than their clients - and other principal investments in the financial crisis is getting new scrutiny. On Thursday, Feb. 4, the Senate Banking Committee held its second hearing in a week on President Obama's...
"To a certain extent, proprietary trading was the key driving force that was behind the disaster," says Jeremy Berkowitz, a finance professor at the University of Houston. "For whatever the reason, Lehman and other banks decided to take positions in mortgages, and when those positions went south, so did the...
Sure, the authoritarian rulers in Beijing can sometimes implement policies more efficiently than the argumentative democrats of the West. That's exactly why Beijing's recession-busting stimulus plan proved more effective than Washington's. With no political debate to get in the way, China's bureaucrats splashed money everywhere...
While scientists and politicians debate the complexities of global warming, skiers and boarders have simpler concerns about the earth's weather patterns - namely where the best snow will fall. With low-altitude resorts being denied loans by banks and statistical projections suggesting that winter sports below 2,000 m will...
But it was the largest firms that survived the crisis. Could one argue that financial firms need to get bigger, not smaller? There is no evidence that large, multiplatform banks are more efficient or able to sustain risk than smaller banks. When I was on Wall Street, we used to...