It has been decades now that Wall Street has been run by big investment banks. The exact names may keep changing as some of the smaller firms became bigger, and some of the bigger firms fall (and of course, names keep on changing with mergers and acquisitions), but the basic structure of large investment firms [...]
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This is a time that no Economic Affairs Minister (or Secretary of Commerce), and Central Bank Governor would want to see. Imagine spending public money to shore up private companies ! Balance that with a risk to sentiment if such large companies, immensely integrated in the economy, suddenly collapse. The potential that overall sentiment becomes [...] The United States (and by consequence, the inter-connected world) economy took a steep loss in confidence over the past few days. After the last crisis where Bear Stearns almost went down precipitating a severe loss in financial confidence, the Reserve Bank in the United States had to step in and take the unprecedented action of [...] With our current sea water levels, we maintain a uneasy balance with the seas and oceans in coastal areas. Housing, habitation, and other forms of human existence are right till the doorstep of the water, and there are millions of people living on islands that are only a few meters about the surface of the [...] |
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