The EU Council leaders were meeting this week to determine how best to prevent a default of Greek sovereign debt by common support. The council issued a statement of support with no details as talks continue.
The EU Council leaders were meeting this week to determine how best to prevent a default of Greek sovereign debt by common support. The council issued a statement of support with no details as talks continue.
China overtakes Germany as the worlds leading exporting nation, setting a new milestone. Germany had previously supplanted the United States in 2003.
Financial markets continue to be roiled this week over fears that a European debt crisis could derail the global recovery. Investors are spooked by the debt problem in Greece – a possible precursor of what may happen in the U.S. Investors fear Greece may default on its sovereign debt, or require a bailout from already strapped European governments. Those concerns are spreading to other financially troubled governments in Europe.
The leading Central Bankers and Finance Ministers of the world’s seven major industrial nations, known as the G-7, wrapped up their first meeting of the year by pledging today to work to calm global markets and maintain government stimulus in order to help sustain a global economic recovery. Speaking for the group, Canadian Finance Minister […]
Chronicles the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the purveyors, the perils and possibilities of financial risk.
In Davos this year, mant global movers & shakers are expressing angst about the inability of Washington to effectively govern the nation. The images of ‘Tea Party’ activists, and the gratuitous levels of political hostility aimed at President Obama provide ample support for their concerns of political instability in America, and what it means to U.S. power around the globe.
The Obama administration on Monday unveiled its plans for a fresh assault on international tax cheats that officials say will help reduce the Federal budget deficit from a record $1.5 Trillion this year. President Obama also announced the Fiscal Year 2011 Budget will make critical investments in job creation and continued economic recovery, while bringing a new level of responsibility to how tax dollars are spent.
By a politically divided 5-4 decision, the Supreme Court on Thursday rolled back restrictions on corporate, including foreign interests, spending in U.S. Federal campaigns. The decision could unleash a torrent of corporate-funded attack ads in upcoming elections, and equates the rights of corporations with the rights of individual citizens.
Wrap-up of Davos World Economic Forum 2010, from FT’s Money Supply blog.
The latest from Davos: global bank regulators unite to urge large banks to embrace reform. Regulators also endorsed the more aggressive efforts by the U.S. (Obama) administration.
The deeply insidious influences of French, American and other European allies long history of imposing trade embargoes, economic isolation and financial dependence on Haiti after its 1791 slave revolt lies at the very center of why the island nation continues in its economic dysfunction to this day.
Daily update of talking points, central issues being discussed in Davos’ World Economic Forum 2010 by world leaders in politics, finance, central banks, corporate, energy, lobbyists and philanthropy.
The World’s leading banking and finance executives, industry regulators, and billionaire investors like Warren Buffet and George Soros – the Wall Street crowd writ large – will head to the annual World Economic Forum held in Davos, Switzerland this week. On the agenda will be efforts to challenge US President Barack Obama’s efforts to reform the financial industry.
Finally capitulating to voter outrage, and the very kind of “Change” he campaigned on last year, President Obama proposed tough new financial industry restrictions under what he called “the Volcker Rule” – named after Paul Volcker, the former Fed Chair.
