Word: bankses
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It is true that the Great Depression of the 1930s was a crisis of liquidity. Stocks plunged, banks went under, and the value of assets disintegrated. Our current policies would have been appropriate in the Great Depression, but they are not appropriate now. Liquidity problems are not the source of...
Why not? Because what we have is not a crisis of liquidity but rather a crisis of confidence. With tremendous excess reserves, it is obviously not the case that banks are not lending money because they do not have the money to loan. Instead, they are afraid that other institutions...
Young middle-class couples like Gong and Wang are key to China's economic future - just as China's future may determine how long the global recession lasts. They are part of the population cohort the government hopes will boost domestic consumption, which takes up a mere 35% of the...
Iraq's coffers may technically be burgeoning with billions of petrodollars, but over the summer, the vaults of some branches of the country's two main state-owned commercial banks, the Rafidain and Rasheed, were empty. A kink in the supply chain owing to miscommunication among several financial bodies meant...
The back-and-forth can feel esoteric, but, in fact, it goes to the heart of solving the problem. "If losing firms are sucking up all the credit, then isn't the [correct] policy response to let banks cancel lines of credit?" asks Octavio Marenzi, CEO of the banking consultancy...