SubscribeAll Posts Tagged With: "banking crisis"
History suggests that this is just another crisis like many others, and this too shall pass.
The current housing and banking crises are both unique and severe. Billions of dollars of wealth have disappeared over the last year, in some cases in just a matter of days. Companies that have been household names have gone bankrupt, with others on the verge of failing as this article is being written. Make no mistake; these are scary times with both professionals and the public wondering if their money is safe. Is this the end of the U.S. financial system?
Although we cannot predict the future and suspect that anything is possible, history suggests that this is just another…
21Sep2008 | Managing Money | Comments Off | ContinuedBanking Crisis: The global dimension
Back in the early 1990s, they defined an optimist as an investment banker who ironed five shirts on a Sunday night.
What goes around comes around.
After years of record revenues, record profits, and record bonuses, the banking is suffering from that not-so-fresh feeling: Since last summer, Wall Street firms have slashed approximately 26,000 jobs. More are expected to follow. Even Shearson Lehman, less hurt than its peers by the subprime mess, is expecting layoffsWall-Street-Layoffs to hit around 10 percent of its work force. The number of positions to be liquidated at Bear StearnsBear-Stearns-Troubles Nov-07 is as yet undisclosed but could hit…
27Mar2008 | J. Christoph Amberger | Comments Off | Continued
Loading ...
