Word: bankses
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Ultimately, however, skeptics say changes in the classroom won't translate to an equal shift in the way real-world business operates. Morici says that Wall Street's compensation structure rewards risky business, and that's at the heart of the problem. "Until the banks are compelled to reform their...
Now, moreover, even if valuations in the U.S. financial sector get more appealing should the market rout intensify, there's another factor in play: governments in East Asia and the Gulf want their funds to help domestic companies, not foreigners. On Thursday, for example, Beijing's CIC announced it would...
The irony in that rise is that Austria has rarely had it so good. Growth and investment have easily outpaced the E.U. average for years; banks are profiting from new markets in eastern Europe and the former Soviet Union. The capital Vienna, flush with tax revenues, looks almost imperial again...
Sentiment was boosted by a 3.9% jump in the Dow Jones Industrial Average and by reports that the U.S. Treasury Department and Federal Reserve are discussing a massive plan to purchase soured mortgages from American financial institutions. Treasury Secretary Henry Paulson said after a late-night meeting in Washington that...
The big Sept. 19 gains were driven to some extent by bargain hunting. After tumbling about 45% from highs reached late last year, Asian stocks now trade at roughly 10 times 2008 earnings - which means they're relatively cheap. Although Asia's economic growth is expected to slow over the...