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March 19, 2008 |
Bernanke: Federal Reserve
Worldnet Daily
Despite the varied theories espoused by many establishment economists, it was none other than the Federal Reserve that caused the Great Depression and the horrific suffering, deprivation and dislocation America and the world experienced in its wake. |
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March 18, 2008 |
U.S. Treasury fears Islamic strings on investments
Worldnet Daily
The U.S. Treasury is struggling with how to handle any political or Islamic ramifications as Persian Gulf sovereign wealth funds look to make substantial investments in capital-poor American banks and securities firms. |
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March 17, 2008 |
Fed abandons dollar in new round of rate cuts
Worldnet Daily
Wall Street opened Monday nearly 200 points down after a weekend in which Bear Stearns, the 85 year-old securities firm, and Carlyle Capital Corp., an investment fund run by one of the country's largest private equity firms, each went bankrupt..
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March 17, 2008 |
Sharia products help Prudential make as much profit in Asia as in UK
Guardian
Prudential is looking to expand into Egypt as the executive who runs the insurer's fast-growing Asian business seeks other markets with scope for rapid growth. |
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March 16, 2008 |
Goldman Sachs to reveal $3bn hit
Telegraph (UK)
Goldman Sachs, Wall Street's most powerful investment bank, will this week announce asset writedowns worth about $3bn (£1.5bn), its biggest jolt to date from the crisis threatening to engulf the world's financial markets. |
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March 16, 2008 |
Moral hazard tossed out as Fed saves Bear Stearns
Int'l Herald Tribune
What are the consequences of a world in which regulators rescue even the financial institutions whose recklessness and greed helped create the titanic credit mess we are in? Will the consequences in the United States be an even weaker currency, rampant inflation, a continuation of the slow bleed that we have witnessed at banks and brokerage firms for the past year? |
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March 16, 2008 |
U.S. central bank chief shifts to crisis mode
Int'l Herald Tribune
As chairman of the Federal Reserve, Ben Bernanke has long argued that a central bank should base its policies as much as possible on consistent principles rather than seat-of-the-pants judgment. |
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March 16, 2008 |
Fed just made matters worse, says Carlyle
Financial Times
This week’s emergency credit market intervention by the US Federal Reserve was supposed to ease the liquidity crisis for struggling financial groups such as Carlyle Capital Corporation.
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March 16, 2008 |
Bear Stearns worth less than its own office building
New York Times
Bear Stearns, pushed to the brink of bankruptcy by what amounted to a run on the bank, agreed late Sunday to sell itself to JPMorgan Chase for a mere $2 a share, narrowly averting a collapse that threatened to cascade through the financial system. |
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March 16, 2008 |
Bear Stearns: Share price from $170 to $2 in 13 months
Wall Street Journal
Bear Stearns Cos. reached an agreement to sell itself to J.P. Morgan Chase & Co., as worries grew that failing to find a buyer for the beleaguered investment bank could cause the crisis of confidence gripping Wall Street to worsen. |
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