Word: bankses
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The Dubai debacle triggered immediate concern about a new wave of financial problems rippling through global markets. Stock-market indexes plummeted, the cost of insuring against a default by Dubai jumped and the dollar strengthened as investors rushed back into greenbacks. On Friday afternoon, stock markets made something of a...
Dodd and Banking Committee ranking Republican Richard Shelby are handling the creation of a consumer-protection agency, something the banking industry strongly opposes. Senators Mark Warner of Virginia and Bob Corker of Tennessee are trying to figure out which governmental bodies - the Fed, the FDIC or a newly created entity...
Evidence pointing to excessive risk-taking by executives at investment banks Bear Stearns and Lehman Brothers continues to emerge more than a year after the two investment banks collapsed in 2008—this time from a paper released online this weekend by three Harvard Law School affiliates.
The study’s conclusions come less than a week after the heads of two major banks wrote editorial pieces in The Washington Post and the Sunday Telegraph calling for greater regulation and accountability in light of the financial crisis.
How do we fix Wall Street? By facing the music now. Toughen up borrowing requirements by banks. Increase oversight, especially when it comes to regulating derivatives. Perhaps enact a 21st century version of Glass-Steagall. And don't allow any institution to become too big to fail. Does that mean...