In a Washington hearing last week, the chairman of the House Banking Committee stared at one of the nation's top managers of money. Grumbled Texas Representative Wright Patman: “You can absolutely veto everything the President does
What reform could dramatically remake America and become law by Christmas?
The largest growing economic force in the world isn’t the China or India — it’s women. The economic story of burgeoning economies such as China is also the story of “factory girls,” young women who have found new spending power as a result of new economic opportunities.
A key investor with convicted swindler Bernie Madoff drowned in his swimming pool Sunday afternoon, police said.
Banks round the world have still to reveal about half of their likely losses resulting from the financial and economic crisis, the International Monetary Fund said on Wednesday, warning that there was still a “significant” risk of another downward lurch in the global recession. The IMF described credit risks as remaining “elevated” even though financial conditions have improved significantly since spring.
The terrain of the financial world has changed since the collapse of Lehman Brothers. It’s been one year since the U.S
The head of Britain’s top banking watchdog supports the idea of new global taxes on financial transactions, warning that a "swollen" financial sector paying excessive salaries has grown too big for society.
Switzerland’s largest bank will shed nearly 9,000 more employees as it tries to recover from the global financial crisis, its CEO said Wednesday. The announcement by UBS Chief Executive Officer Oswald Grubel came at the company’s annual general meeting in Zurich.
There’s an uproar about whether the government should let AIG fail, a debate re-energized by the latest revelation of bonus payments going to AIG’s executives. In fact, there’s a good case to be made that AIG should fail, and it has nothing to do with bonuses. The rescue of AIG is warping the banking system and unnecessarily extending the credit crisis.