$800 billion more in loans and debt programs? Go above and beyond the $700 billion bailout? What, dip into taxpayers' dollars to take care of errant spenders? Axe the taxpayers even further to rescue the footloose? I'm tired of this mess, of reading reams about the nonsense that's spreading across the US market, across world … Continue reading Oh, mercy, where in the world is this rescue headed!
In four steps, Paul Krugman presented his view of the current financial crisis: Foreclosures and defaults - a consequence of the burst housing bubble - caused a plunge in the prices of mortgage-backed securities i.e. those assets whose values are derived from mortgage payments Due to the above losses, numerous financial institutions experienced a drying … Continue reading Making sense, after the gobbledegook of financial juggernauts…
The New York Times has brought this interesting series about the surge in consumer debt and the lenders who made it possible. Some of the views and comments from readers are also engaging.
Rather than layoff middle-rung executives, banks like Merrill Lynch and Morgan Stanley have been moving their middle men (and a few women) to the Middle-East or South Asia - most often to Mumbai, India's financial hub. The 'fortunate few' may have been relocated by their company, while numerous others who were already laid off after … Continue reading Wall Street moves to Dalal Street… Is that right? How nice!