All Entries in the "Featured" Category
Palin Hong Kong Speech Blames Government For Financial Crisis
Former U.S. vice presidential nominee Sarah Palin, criticized for her lack of foreign policy experience, emerged in Asia on Wednesday to share her views from “Main Street U.S.A.” with a group of high-flying global investors.
In her first trip to the region, the former Alaska governor addressed an annual conference of investors in Hong Kong in [...]
U.S. To Push For New Economic World Order At G20
The United States will urge world leaders this week to launch a new push in November to rebalance the world economy, but there are doubts national governments will bow to external advice.
A document outlining the U.S. position ahead of the September 24-25 Group of 20 summit in Pittsburgh said exporters, which include China, Germany and [...]
Administration Unveils Bank Capital Proposal
The Obama administration on Thursday proposed stronger international standards for the capital reserves that banks are required to hold. The goal is to avoid a repeat of last year’s severe financial crisis.
The administration released a 14-page outline that would require higher capital cushions for firms deemed to be so large and interconnected they pose a [...]
G20 Aims At Bank Pay And Capital-Stimulus To Stay
G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
Although the global economy looks brighter than when the Group of 20 finance ministers and central bankers met in April, their [...]
Central Bankers To Mull Crisis Lessons At Retreat
Two years after the start of the worst global financial crisis since the Great Depression of the 1930s, policy-makers from around the world gather this week to think about how to prevent it from happening again.
The Kansas City Federal Reserve’s yearly conference at a mountain retreat in Jackson Hole, Wyoming, will draw central bankers and [...]
Bernanke Says US Economy On Cusp Of Recovery
Federal Reserve Chairman Ben Bernanke declared Friday that the U.S. economy is on the verge of a long-awaited recovery after enduring a brutal recession and the worst financial crisis since the Great Depression.
Economic activity in both the U.S. and around the world appears to be “leveling out,” and “the prospects for a return to growth [...]
Japan’s Economy Rebounds In 2Q On Export Growth
Japan’s economy climbed out of yearlong recession in the second quarter, the government said Monday, expanding 3.7 percent at an annual pace and joining Germany, France and other regions that appear to be emerging from the global financial crisis.
But economists and politicians sounded cautious, noting that the main driver of growth was exports and [...]
China’s Miracle Economy: Have the Chinese Become the World’s Greatest Capitalists?
“I don’t care if it’s a white cat or a black cat. It’s a good cat so long as it catches mice.” — Deng Xiaoping, who opened China to foreign investment after 1978
China is being called a “miracle economy.” It seems to have decoupled from the rest of the world, preserving an 8% growth rate [...]
Financial Crisis No Excuse For Inaction On Climate Change: EU
AARE, Sweden (AFP) – The global financial crisis is not a sufficient reason for inaction on tackling climate change, Swedish Environment Minister Andreas Carlgren said on Friday.
His comments came at a meeting of European environment and energy ministers organised by the Swedish EU presidency in Aare, central Sweden.
The Swedish environment minister told delegates that [...]
Bernanke Says Fed Can Take on Supercop Role
Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from U.S. lawmakers wary of expanding the Fed’s duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place.
“The Fed has made some big mistakes,” said the House panel’s highest-ranking Republican, [...]
US Financial Market Bailout Tab Hits $4.7 Trillion
The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday.
Under the worst of circumstances, the report said, the government’s maximum exposure could total nearly $24 trillion, or $80,000 for every American.
The figures [...]
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