How J.P. Morgan rescued the US dollar and bailed out a nationOh, the irony: over a century before his namesake company was bailed out by taxpayers to the tune of $25b, banker J.P. Morgan devised an enacted a risky strategy to pull America’s economy out of the Depression. John Steele Gordon explains how he pulled it off.
Jp morgan chase
Wall St bankers explain their stuff ups
The NY Times has a nifty interactive feature on the four big bankers who headed to Capitol Hill to testify at the Financial Crisis Inquiry Commission. Hear in their own words how hurricanes, regulators, risk and overspending of mortgages all contributed to causing the GFC.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Doom and gloom wrap: Fed set to cut, but how much?
It’s no longer a case of whether US Federal Reserve will cut interest rates, the only question to be settled at this week’s Fed meeting is how big the cut will be: 0.25% or 0.50%, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
More gloom in world markets: should BHP wait a bit?
The Financial Times summed up the mood nicely in a headline on its website on the weekend: “Gloom envelopes world markets.” And there’s more to come, despite the BHP Billiton stalking of Rio Tinto, writes Glenn Dyer.
