Henry Paulson is far from the hero in the story of the Wall Street meltdown. Associate Professor Steve Keen argues he is in fact the villain, and may be heading for an ignominious end.
Economy
The credit crisis now has its tentacles firmly around Europe
Iceland, Ireland, England, Belgium, Germany, France: you can add them to the list of nations scrambling to save key financial institutions, writes Glenn Dyer.
Mayne: America needs a new CEO and finance director
The financial problems in the US might be solved in a big hurry by a new President, but putting someone else in charge won’t hurt either, writes Stephen Mayne.
Even if the bailout got through, $700bn is not enough. Here’s why
$700bn sounds like a,ot of money, and it is. But it’s trying to bail more than 10 times that much. Adam Carr, senior economist at ICAP Australia, explains why it won’t be enough to forestall a recession.
Media wrap: Will the bailout work?
With tentative agreement reached between Democrats and Republicans on the details of the bailout, now US lawmakers are waiting, fingers crossed. Compiled by Thomas Hunter.
Europe jittery as credit crisis spreads to UK, Belgium, Germany
The US might have reched agreement on a bailout package, but the problems are only just starting for Europe, writes Glenn Dyer.
RBA keeping close tabs on bailout progress
The Reserve Bank significantly boosted the amount of cash in money markets over the weekend, reports Glenn Dyer.
All news is bad news for US jobseekers
Job numbers due out this week are expected to show a significant rise in job losses. And some of them might be from non-finance based companies caught short in lending arrangements, writes Glenn Dyer.
Forget Wall Street, this is the real bailout plan
Buried by the flood of bad financial news and the wobbly fate of the $US700 billion bailout, US politicians are are close to pulling off a swifty of epic proportions, writes Glenn Dyer.
NZ, Ireland now in recession. Who’s next?
Regardless of the bailout plan’s fate, economies continue to slow sharply, with Ireland and New Zealand both sliding into full blown recessions within 24 hours of each other. By Glenn Dyer.
ASX AGM descends into farce
A riproaring criticism of the press was only one of the highlights of yesterday’s ASX AGM, writes Stephen Mayne.
RBA review treads lightly during financial crisis
In its bi-annual economic review, the RBA says it is concerned about the impact of global financial problems on the local economy. By Glenn Dyer.
Global liquidity crisis looms, as banks hoard funds
Fears of a global cash freeze worsened overnight, reports Glenn Dyer, and you can expect it is furrowing the collective brow of the RBA board.
Rocky outlook or not, CMH boss John Alexander is in the money
The share price might be plunging and there might be a nasty meeting with the banks looming, but CMH boss John Alexander is sitting pretty, writes Glenn Dyer.
Media wrap: Opposing the Wall Street bailout
Cash for trash … Wall St plan a hard sell on Capitol Hill … Why you should hate the Treasury buyout … Dems say they won’t get fooled again … Opposition to bailout plan grows … A better bailout.
Has Warren Buffett’s Goldman Sachs grab saved US finance?
Warren Buffett has bought a $5bn piece of Goldman Sachs, and in so doing has improved the mood of Wall Street. Is it the turning point the US economy has been waiting for?
GE and GM scrambling for financial safety
The list of companies protected from short selling continues to grow, with corporate royalty like GE and GM now jumping on board, writes Glenn Dyer.
Global markets: What part of the past 24 hours don’t you understand?
It has been a confusing 24 hours on global markets, writes Glenn Dyer. So what’s going on?
$700b might only buy short term relief: Moodys
According to Moodys, the risk of a credit crunch is not receding, writes Glenn Dyer.
US bank bailout not a cure-all
The US Government buyout fund will do nothing to help end the root cause of the problems faced by the US economy, writes Glenn Dyer.
Seven profit downgrade sees stock plunge
Plunging ad revenue, says Seven, is beheind today’s earnings downgrade. By Glenn Dyer.
RBA pumps billions more into national economy
The loud sloshing sound you could hear last night was just the RBA pumping more cash into the local economy, writes Glenn Dyer.
Central banks combine to, well, save the world
Oh no, here comes another bail out. Glenn Dyer reports on the action taken overnight by central banks to stave off global financial ruin.
The Subprime Crisis: An incomplete timeline
Some key moments in the history the worst global financial crisis since the Great Depression. Compiled by Thomas Hunter.
Macquarie should break its silence
With its stock price plunging, Macquarie needs to remind the market that it’s not at all like Bear, Lehman or Merrill, writes Tony Boyd.
