Word: bankses
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But even the unprecedented Fed decision was quickly discounted by the market. Chris Low, chief economist of FTN Financial, said buying commercial paper was a "very good move," but explained that "investors almost have to see things work now before they'll believe them." In particular, Low pointed out, investors...
It is sad that so few journalists in the media wrote or broadcast critically about global financing, investment banks and subprime loans - before the crisis of the last weeks. Investment banks and their CEOs and staff were hailed as heroes. Now they suddenly are the villains. The role of...
Legislation that will allow the Treasury to use $700 billion to help institutions in distress is also potent proof of the crisis’ gravity. Betting on the decline of selected financial firms’ stocks, known in finance as “short-selling,” is now...
Subsequent bombings of government buildings, banks and police departments lead the FBI to declare the Weathermen a domestic terrorist group. Only one explosion - a pipe bomb placed on a San Francisco Police Department window ledge in February 1970 - resulted in death. It was never conclusively attributed to the group.
For the most part, Asian banks have remained unscathed and economies relatively robust compared with other parts of the world. But tumbling Asian stock markets, marked on Monday by near-panic selling, is signaling just how little confidence there is among bankers and investors that the $700 billion bailout of...