edited by: Tracy Coenen,
Accounting Editor
Last night I saw upon the stair
A little man who wasn’t there
He wasn’t there again today
Oh, how I wish he’d go away
-- Hughes Mearns, 1899
An under-appreciated power of the bloggers is the capacity for a two-way conversation, right out in full public view.
That was my reaction, anyway, to Francine McKenna’s December 7 post, [...]
The House passed legislation Friday that would seek to avoid another financial crisis through a restructuring of the financial regulatory system. However it rejected, by 223-208, an amendment that would have effectively killed the Consumer Financial Protection Agency, replacing it with a council of existing regulators.
[...]It’s interesting to note what is happening in banking as the financial crisis develops. The Bank of England has noted the following for the third quarter of 2009:
External liabilities of banks and building societies operating in the UK fell by $86.9 billion during Q3 2009. The largest fall in [...]
The Dubai government refused to guarantee the huge debts built up by its conglomerate Dubai World, dashing investor hopes that the latest episode in the global financial crisis might be swiftly resolved.
In an interview on local television, the director general of Dubai’s department of finance, Abdulrahman [...]
Did you know that a director from Goldman Sachs (with ownership of company stock) was also serving as a director of the New York Federal Reserve as it funneled bailout funds to Wall Street at the height of the financial crisis?
Appalled? Well, at least it won't happen again: that loophole was closed' [...]
New reports show that the Federal Deposit Insurance Corporation (FDIC), the institution responsible for bailing out troubled financial institutions so as to avoid nasty scenes like this one, may have overexerted itself during the latest financial crisis. According to the government corporation’s quarterly bank profile, a snapshot of the [...]
This financial crisis has been one long headache brought on by deception, confusion and incomprehension. Unless you have a Ph.D. in economics, your eyes probably glazed over long ago at long-winded descriptions of credit default swaps, collateralized debt obligations, mortgage-backed securities and the [...]
Eric Dash, of the New York Times, posted a fascinating article on the pathology of a financial crisis. It includes information discovered by government investigators who are performing financial autopsies on over 100 banks that have collapsed in the United States. They have already looked at over 40 financial [...]
Famed financial titan Goldman Sachs, one of the few Wall Street players to come out of the financial crisis relatively well, may have realized, perhaps, that defending billions of dollars in bonuses, all while saying you’re doing God’s work, might not be the best way to endear [...]
Alistair Darling should levy a ÂŁ5bn "empty property tax" on up to a million homes left vacant by absentee landlords, to help meet the costs of the financial crisis, trades unions will argue tomorrow.
The TUC wants the chancellor to charge five times the usual council tax [...]
In the midst of this financial crisis, many seem to be reconsidering the wisdom of completely repealing Glass Steagall (in this 10th year anniversary). Apparently those are the views of two former Chairmen of Citigroup and Paul Volcker.
While these are certainly important figures, they are arriving late to the view. At [...]
