Karl On Bailouts
It is clear that there is a shortage of means of payment during a period of crisis. The convertibility of bills of exchange replaces the metamorphosis of commodities themselves, and so much more so...
It is clear that there is a shortage of means of payment during a period of crisis. The convertibility of bills of exchange replaces the metamorphosis of commodities themselves, and so much more so...
Financial-market wise guys, who had been seized with fear, are suddenly drunk with hope. They are rallying explosively because they think they have successfully stampeded Washington into accepting the Wall Street Journal solution to...
What does a socialised corporatocracy look like when the veils of “democracy” are briefly lifted? Only a week after the United States’ Federal Government effectively socialised its mortgage industry by taking over Fannie Mae...
An exodus of foreign capital is forcing Russian banks to slash lending as the international reaction to the country’s military stand-off with Georgia starts to affect the real economy. Bankers say Russia is facing...
Jerome Kerviel taught kids judo, held the door for his elderly neighbors in a posh Paris suburb — and appears to have committed one of the biggest bank frauds in history … In the...
Leading U.S. banks have reportedly been meeting with U.S. Treasury officials about creating an up-to-$100-billion fund to stave off the danger that there could be a fire sale of shaky mortgage-backed securities, collateralized debt...