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The last time we realized the financial system had sold us out—this was way back in 2001/2002—one of the results was a half-a-billion-dollar settlement with Wall Street’s stock analysts. As you might recall, investment banks had a bad habit of issuing overly rosy opinions of companies, particularly the ones the banks were courting for other sorts of business. Twelve companies, including Merrill Lynch, Bear Stearns, Citigroup, Goldman Sachs, Lehman Brothers, J.P
If there is one thing that Africa can learn from the global financial crisis it’s that the West doesn’t always get it right, Nobel Peace Laureate Wangari Maathai told CNN. “It sends a message that anyone can make a mistake
While global markets tumble, investors such as Tony Yeung in Hong Kong are betting that China "will be the first to recover from the global crisis."
David Lance Arneson, who helped trigger the global phenomenon of role-playing games as co-inventor of "Dungeons & Dragons," has died at the age of 61.
After the pageantry and splendor of audiences with the Queen and dinner at Downing Street, G-20 leaders could be forgiven a sense of anti-climax as they arrived for work Thursday for a summit heralding a "new era of international partnership," according to British Prime Minister Gordon Brown.
The G-20 summit began Thursday, with leaders looking to repair a rift after France and Germany threatened to withdraw their support unless tough new rules were agreed to regulate the world’s financial markets. U.S
World leaders meeting at the Group of 20 summit "cannot afford half-measures" as they try to hammer out ways to address the global financial crisis, President Obama said Wednesday.
French President Nicolas Sarkozy wants a "real transformation" of international financial regulations out of this week’s G-20 summit in London, a spokesman said Tuesday amid reports that Sarkozy will walk out of the gathering if he’s not satisfied.
Asia’s economic growth will tumble to the slowest pace since the 1997-1998 Asian financial crisis, the Asian Development Bank (ADB) said in a report released Tuesday. “The short term outlook for the region is bleak as the full impact of the severe recession in industrialized economies is transmitted to emerging markets,” said Jong-Wha Lee, acting chief economist for the ADB. The Asian Development Outlook 2009 forecasts that economic growth in developing Asia will slip to 3.4 percent in 2009, down from 6.3 percent last year and 9.5 percent in 2007.
British Prime Minister Gordon Brown said Monday he believed world leaders would "rise to the challenge" at this week’s G-20 summit by agreeing firm measures to set about tackling the global financial crisis. Brown, who hosts Thursday’s meeting in London, has spent the past few weeks courting a succession of world leaders in a bid to persuade them to sign up to a package of proposals he has described as a “global new deal,” including tighter financial regulations and further government stimulus measures. But other leaders have distanced themselves from Brown’s agenda, with German Chancellor Angela Merkel apparently speaking for other European leaders when she expressed skepticism this weekend about the wisdom of pouring further public money into economies already in recession