Is it worth trying to put a price on the natural world, when things like water and food are priceless? Yes, says Paul Sutton - without knowing the value of the environment, we might not value it at all.
Graham Beal led the Detroit Institute of Arts through the city’s financial crisis.
Les Ward
Graham Beal, the Director of the Detroit Institute of Arts, recently announced that he will be retiring after fifteen years at the helm. Two of his achievements particularly stand out. The first is his…
Syriza leader Alexis Tsipras is odds-on favourite to emerge as the next prime minister in Greece.
EPA/Orestis Panagiotou
Marianna Fotaki, Warwick Business School, University of Warwick
The snap election called in Greece for January 25 has renewed speculation about the country’s uncertain future as left-of-centre Syriza looks likely to capitalise on the unprecedented unpopularity of the…
The collapse of Lehman Brothers was a pivotal moment in the most recent financial crisis. The next crash may feature another bank failure.
Reuters
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…
Small beer? Bank fines and the culture they punish.
Steve James
The biggest open secret in the financial world has been confirmed. Regulators in the UK, the US and Switzerland have announced massive fines for some of the world’s largest banks for a manipulation of…
Shifting bank risk to taxpayers is deeply unpopular, and there is an alternative.
Lisa Norwood/Flickr
In the last decade or so, the global financial landscape has endured two major shocks - the first with the 2007 collapse of the sub-prime mortgage market in the United States, and the second emanating…
Any banking system reforms must target all institutions.
AAP
Banks borrow short and lend long. So if all of a bank’s depositors suddenly want their money, the bank would be unable to pay them. A bank may have made great loans but it can only unwind these loans slowly…
Lending standards are so tight that even former Fed Chairman Ben Bernanke, center, who until recently was one of the most powerful people in the world, can’t refinance his mortgage.
Reuters
It’s clear mortgage standards have gotten too tight when even a former Federal Reserve chairman who makes as much as US$250,000 per speech cannot refinance his home. Ben Bernanke complained about his inability…
We’re using less petrol – there’s a recession on, you know …
Antony
Readers of the Financial Times would have recently encountered a story that encompasses the paper’s version of bad/good news when it comes to the oil business. According to the author Daniel Yergin, the…
The European Central Bank (ECB) has announced the results of “stress tests”, which assess whether or not banks will fail, or require a taxpayer-funded bailout, if the economy were to turn sour. 130 banks…
The long and slow-stunted recovery of the eurozone economies is a major source of concern for the IMF and international bankers. Six years after the collapse of Lehman Brothers signalled the onset of the…
Central bankers Glenn Stevens and Janet Yellen: both converts to macroprudential regulation.
William West/AAP
Perhaps the most interesting type of reform to have emerged from the global financial crisis is the call for “macroprudential” regulation. Macroprudential regulation, in broadest terms, seeks to manage…