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Financial Crisis Commission Examining WachoviaSeptember 1, 2010 Rick Rothacker The panel investigating the U.S. financial meltdown will put Charlotte's Wachovia Corp. under the microscope on Wednesday. The Financial Crisis Inquiry Commission on Monday said former Wachovia chief executive Bob Steel will be one of the witnesses at a hearing in Washington. He will be joined by Scott Alvarez, the Federal Reserve System's general counsel, and John Corston, acting deputy director of supervision and consumer protection at the Federal Deposit Insurance Corp. Former Lehman Brothers Holdings Inc. CEO Dick Fuld is slated to testify in an afternoon session. Federal Reserve Chairman...
Published on Sunday 5th of September 2010 05:11:52 AM
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Posted by admin / Under Financial
GFC possibly a male crisisBy Caroline Munro 1 September 2010 The global financial crisis (GFC) was perhaps a male crisis that could have had a softer landing if there were more women in the banking and finance sector, according to Italian economist and journalist, Loretta Napoleoni. Napoleoni was a key note speaker at the Women in Banking and Finance annual forum, hosted in Sydney last night by Deutsche Bank, which also included panel speakers NSW Premier Kristina Keneally, Carnival Australia chief executive, Ann Sherry, and journalist and author, Mia Freedman. Napoleoni said the cause of the GFC has been attributed...
Published on Sunday 5th of September 2010 05:11:52 AM
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Posted by admin / Under Financial
It is “financial jihad,” explained Yusuf Qaradawi, the Muslim Brotherhood’s sharia compass — and the man Feisal Rauf, the brains behind the proposed Ground Zero mosque, admires as “the most well-known legal authority in the whole Muslim world today.” It was 2002 and Qaradawi, who endorses suicide bombing and the targeting of American personnel operating in Islamic countries, was giving a lecture on the need to use the international financial system to support Islamist goals — like Hamas’s war to destroy Israel. The financial jihad has now achieved its greatest coup so far: It has co-opted the U.S. government as...
Published on Sunday 5th of September 2010 05:11:52 AM
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Posted by admin / Under Financial
Michael Snyder writes: Today there is a horrific derivatives bubble that threatens to destroy not only the U.S. economy but the entire world financial system as well, but unfortunately the vast majority of people do not understand it. When you say the word "derivatives" to most Americans, they have no idea what you are talking about. In fact, even most members of the U.S. Congress don't really seem to understand them. But you don't have to get into all the technicalities to understand the bigger picture. Basically, derivatives are financial instruments whose value depends upon or is derived from the...
Published on Sunday 5th of September 2010 05:11:52 AM
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Posted by admin / Under Financial
The government commission tasked with writing a public report to expose the causes of the financial crisis is keeping the structure of its own publishing deal private. On Aug. 3, the Financial Crisis Inquiry Commission, a presidential body, announced that it had chosen Little, Brown and Co. to publish its final report about the meltdown -- an anticipated and authoritative account pieced together by well-known journalist Matt Cooper. It did not mention, however, that the deal had unusual terms for the publication of a public document, including an agreement by Little, Brown to pay an advance to the government and...
Published on Sunday 5th of September 2010 05:11:52 AM
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