Traders react with dismay after stocks plunged in September 2008 following the collapse of Lehman Brothers.
Instead, we need to burn the entire system of financial regulation to the ground and replace it with something that supports investing the way it's done today.
German stock market after US election, November 9, 2016.
The fall of the Berlin wall was supposed to usher in ‘the end of history’, an eternal age of capitalist economics and liberal-democratic politics. It hasn’t turned out that way.
At least someone gets a microphone.
The bank's recent scandal probably would never have happened had senior management only listened to Wells Fargo's whistleblowers.
The U.S. could do with a shot in the arm too.
Bear syringe via www.shutterstock.com
Although the Fed delayed raising rates this month, it has signaled it intends to wean the U.S. economy off its unprecedented monetary stimulus. Now the question is whether Congress will take the handoff.
In Wells Fargo’s case, a discussion often wasn’t required.
Wells Fargo via www.shutterstock.com
Regulators fined Wells Fargo US$185 million for fraudulently opening up more than two million fake deposit and credit card accounts. Will the victims get their pound of flesh from those responsible?
Good investment? What do your friends think?
Research suggests how your online friends experienced the housing collapse affected how you perceived your local real estate market.
Greece has seen a spike in poverty levels.
New research shows how the financial crisis led to a dramatic shift in poverty across Europe.
Pleading with the EU: Italian prime minister, Matteo Renzi.
The Italian banking system is on the verge of a crisis. Direct state intervention is needed to solve the problem.
Looking behind the headline numbers.
There are plenty of reasons to reject the consensus that Brexit will be costly to the UK economy.
A plummeting pound, bonds at an all time low, stocks and commodities in freefall. The UK just spooked the world.
Will Padilla’s pleas to Washington go unanswered?
The island, which missed a debt payment earlier this month, faces 'disastrous' consequences if a solution to its spiraling crisis isn't found soon.
Wall Street has been difficult to tame.
Sanders and Clinton have been trading blows over who’d be best to reform Wall Street, but new research suggests they may not have the ‘authority’ to do it.
A study in resilience.
Ice bath via www.shutterstock.com
Markets have been on a rocky ride all year on concerns another recession looms. Here are a few lessons we can learn from the last one.
Subprime loans could ease not only the housing affordability crisis but rising homelessness as well.
The Hollywood flick recalls subprime's role in the 2008 financial crisis, but, by helping more low-income households buy a home, the loans can help ease the affordability crisis and homelessness.
GE’s shift away from finance may mean more focus on other products, such as jet engines.
Jet engine via www.shutterstock.com
GE's push into finance nearly crippled the company, just as the broader US shift in that direction almost collapsed the global economy.
In bank stress tests, what’s worse: runs or lemons (the other kind)?
Lemons via www.shutterstock.com
US regulators chose to reveal detailed information to the public about the state of the banks. They were able to be so transparent, without triggering a run, because of a strong fiscal backstop.
The FDIC sold nearly 500 banks in the financial crisis, losing $90 billion in the process.
Water bank via www.shutterstock.com
The FDIC – and taxpayers – lost US$90 billion selling almost 500 failed banks. Where did all those banks go?
Bulls dominate Wall Street but behind them always lurks a big bear.
Wall St bull via www.shutterstock.com
Bankers are back to their old ways, putting the global economy at risk just six years after standing at the brink of another Great Depression.
By George there are a lot of protestors here!
The Weekly Bull
From their inception, austerity policies have been promoted as necessary for economic recovery. Throughout Europe, the demand to cut spending and deficits is presented not as a choice but a requirement…
The collapse of Lehman Brothers was a pivotal moment in the most recent financial crisis. The next crash may feature another bank failure.
The subprime crisis and the subsequent failure of Lehman Brothers came as such a shock – and the repercussions were so severe that when the time came to mount a response, policy makers were as surprised…