The London Times has a whiff of a scandal and is all over it. Apparently JP Morgan withheld $17 billion from Lehman, causing their financial crisis last month that led to their collapse. Bankruptcy hearings are underway and the details are expected to be brought up in open court. Of course, they were asked to [...]
Congress was given a choice. Do something, or face global economic meltdown. Reports are coming in today from the New York Times of the late night meeting between the Fed, Treasury, SEC and the leaders of Congress. As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, [...]
That’s what you get for invading your neighbor. Regulators halted trading at midday (9am BST) on Russia’s main stock indices – the rouble-denominated Micex and the dollar-denominated RTS – following a similar suspension yesterday. Russia has been badly affected by the global financial crisis, and has suffered as stocks have sunk in Europe and Asia. [...]
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