Word: bankses
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Finance has become one of the most international of industries, with major banks spreading their activities across numerous countries and continents, yet regulation still takes place on a national or even more local basis. When banks run into trouble, it's unclear who is supposed to help or how. The...
For the moment, though, the priority remains trying to stabilize a global financial system that has become worryingly volatile. Announcing Britain's plans to recapitalize its major banks and reach out for a broader international solution, Prime Minister Gordon Brown didn't mince words. "This is not a time for...
One thing that has him spooked is the price of credit-default swaps for major U.S. banks - a derivative that provides insurance against the possibility that they might default on their debt, dooming them to bankruptcy. According to data provided by Bloomberg using a model devised by JP Morgan, the...
Weiss believes these banks are far less likely to run aground than the panic-induced price of credit-default swaps would suggest. But since the demise of Bear Stearns and Lehman Brothers, "people have no idea how sound banks are," he says, so "the whole financial system is locking up...
While John McCain and Barack Obama debate the tough economic situation, Harvard Square’s homeless community has been living it. According to a 2008 homeless census conducted by Cambridge for the ninth year in row, the city has witnessed a 10 percent increase in homeless individuals between 2006...