Bailout and Financial Crisis News

1) Gary Gorton: Questions and Answers about the Financial Crisis: All bond prices plummeted (spreads rose) during the financial crisis, not just the prices of subprime- related bonds. These price declines were due to a banking panic in which institutional investors and firms refused to renew sale and repurchase agreements (repo) – short-term, collateralized, agreements [...]

Greece is giving Germany even fewer reasons to bail them out from their debt crisis as the Deputy Prime Minister Theodoros Pangalos mentioned Nazi gold theft in a BBC interview last night reported on FT Alphaville. The Deputy PM called out the Germans saying, “They took away the Greek gold that was at the Bank of [...]

Based on reports from Dow Jones: Juncker: Euro Zone Ready To Support Greece If Needed and the BBC: Greece ‘may cut spending further’, here are some comments from Jean-Claude Juncker, Luxembourg’s prime minister and chairman of the 16 euro-zone finance ministers: Greece has until March 16th to show progress on their budget. If Greece [...]

Like just about every other big, international conference, from world trade to human rights, it appears the Copenhagen climate summit has ended in a complete fiasco. BBC: Negotiations at the UN climate summit have been suspended after the African group withdrew co-operation. African delegations were angry at what they saw as moves by the Danish host government [...]

Italian prime minister Silvio Berlusconi was hit in a face at a rally. The 73-year old is reported to have suffered a broken nose and two broken teeth after allegedly being hit by an Italian souvenir of a cathedral. BBC: The replica of the cathedral, famous for its gothic spires, was initially said to be made of [...]

The thing about sex scandals in American politics is that they’re decidedly un-sexy. You just don’t want the words “Max Baucus” and “sex scandal” to appear in the same story. But in Europe, the scandals actually have a little sizzle and intrigue to them. Apparently IMF director Dominique Strauss-Kahn, who you may have seen delivering some kind of [...]

Seth Borenstein of AP writes: AP IMPACT: Statisticians reject global cooling: Have you heard that the world is now cooling instead of warming? You may have seen some news reports on the Internet or heard about it from a provocative new book. (In this book cover image released by Random House, “Super Freakonomics: Global Cooling, Patriotic Prostitutes, [...]

I am in the 2nd half of the interview: > Over the past year, bankers have been blamed for much of the financial crisis. But how does it look from the perspective of those working in the banks? The BBC’s Matt Wells reports from Wall Street. > Source: Aftershock: how well has the financial crisis been handled? 14 september, 2009 [...]

By Laura Conaway Good morning. Former Federal Reserve chair Alan Greenspan tells the BBC that a global economic crisis “will happen again”. Greenspan says people in prosperous times can’t stop themselves from believing that leaner time are inevitable. The Wall Street Journal finds the overhaul of financial regulation is faltering, a year after the Lehman Brothers collapse. Surprising [...]

It looks like Lehman Brothers will have the honor of being the first of Wall Street’s fallen titans whose collapse gets memorialized in fiction. The BBC is working on a fictional drama inspired by the collapse of Lehman Brothers, according to Australia’s The Age. Actor Corey Johnson has been cast as Lehman chief executive Richard Fuld. James [...]

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