As the 10th anniversary of the fall of Lehman Brothers approaches, many books on the financial crisis will be published. Few are likely to match Adam Tooze’s Crashed in scope, ambition or rigour. This is truly contemporary history—the book runs right up to the end of 2017.
Three men who played a central role in the US response to the 2008 financial crisis have voiced concern that the country may be forgetting the lessons learned from the crisis.
Architects of the government’s response to the last financial crisis worry the country is ill-equipped to handle another, fearing an “amnesia” has taken hold of policymakers, regulators and the public that could lead to the next panic.
Speaking at a roundtable discussion on Tuesday, former Federal Reserve Chairman Ben Bernanke and former Treasury Secretaries Timothy Geithner and Henry Paulson recounted the lessons they learned in the wake of the crisis, and where they fear Americans may have forgotten them.
Economics 101 -- "How the Economic Machine Works."Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the
When you look back at the financial crisis, the quants stand out as the canary in the coal mine. Model-driven funds experienced massive losses in August 2007—a full year before the rest of the financial system came to its knees.
SEVEN years ago, the financial crisis sent our economy into a tailspin. Over five million people lost their homes. Nearly nine million lost their jobs. Nearly $13 trillion in household wealth was wiped out. Under President Obama, our economy has come a long way back.
The Crisis of Credit Visualized by Jonathan Jarvishttp://cashmoneylife.com/economic-fin...ps: I do not own this videojust sharing..
The elite pretends it saved us from ruin. But while the rest of us endure austerity, the economic and business model that created the crash remains intact All history now, isn’t it? The credit crisis that began in August 2007, the ensuing banking crash and global recession.
If you’re anything like me, you’re incredibly tempted several times a day to spend money on something that you don’t really need. This post originally appeared on The Simple Dollar.
The Financial Crisis: Why Have No High-Level Executives Been Prosecuted? January 9, 2014 Issue Five years have passed since the onset of what is sometimes called the Great Recession.
LAST Tuesday Malaysia’s currency, the ringgit, did something unusual: it rose against the dollar. Granted, it was a modest one-day rise (.13%), but after a summer of steady declines it was welcome all the same. Asian currencies have taken a beating this year.
From Trump to climate change, this multiheaded crisis presages collapse. And there’s no hope of exiting the ‘other side’ if political alternatives are shut down Please don’t read this unless you are feeling strong. This is a list of 13 major crises that, I believe, confront us.
One common strategy for saving money on food that shows up in a lot of frugality books and on many frugality websites is the idea of a “meal prep day,” sometimes simply called “meal prep Sunday” because people often use a Sunday to do it. This post originally appeared on The Simple Dollar.
He also gave a crystal clear explanation of how bubbles are formed. It's a great read for anyone interested in investing or behavioral economics.
The grim tale of America’s “subprime mortgage crisis” delivers one of those stinging moral slaps that Americans seem to favor in their histories. Poor people were reckless and stupid, banks got greedy. Layer in some Wall Street dark arts, and there you have it: a global financial crisis.
Some four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could again take down the economy.
Over the past few months, I have watched countless films about finance, from movies to documentaries to television programs. My aim: to identify the top 20 films on the basis of both their entertainment value and their educational value.
With famous movies such as "Wall Street" and "The Wolf of Wall Street," the finance industry has been sensationalized in Hollywood.
The decentralized age, enabled by cryptocurrencies and blockchain technology, is coming fast. We are witnessing the wholesale reinvention of the world’s financial system. When all is said and done, it is going to be fairer, more democratic, and will empower billions of people.
When Donald J. Trump won the presidency in November, one bet seemed like a sure thing: We were in for a volatile few years. And in Washington, that forecast has come true. This unconventional presidency is creating an avalanche of uncertainty in areas including global trade, taxes and health care.
Ten years ago this month, the French bank BNP Paribas decided to limit investors’ access to the money they had deposited in three funds. It was the first loud signal of the financial stress that would, a year later, send the global economy into a tailspin.
Guest post by: Joseph E. Stiglitz Columbia University, New York, and co-host of the Conference on Rethinking Macro Policy II: First Steps and Early Lessons In analyzing the most recent financial crisis, we can benefit somewhat from the misfortune of recent decades.
The 4% rule has been much maligned lately, as recent market woes of the past 15 years – from the tech crash of 2000 to the global financial crisis of 2008 – have pressured both market returns and the portfolios of retirees.
Ask what’s wrong with America’s banks, and you’re likely to hear that they’re just too complicated, too opaque. Banks are doing too much trading and not enough traditional lending, and their speculation with complicated financial instruments (like the ones that led to J. P.
When John Taylor starts remembering the years leading up to the financial crisis, his fury wells up all over again.
The latest job report was very good, except for one thing: wage growth is still much lower than it was before the financial crisis.
Weak, post-Crisis growth has been blamed on secular stagnation. This column argues that the debt super-cycle view provides a more accurate and useful framework for understanding what has transpired and what is likely to come next. The difference matters.
After the financial crisis of 2008, many people predicted that there would be a crisis of capitalism. The best and the brightest would forgo careers filled with financial ledgers and become teachers or engineers, or start small businesses. Needless to say, that didn’t happen.
The award winning documentary 'Inside Job' [2011 | US] by the veteran crusader, Charles Ferguson is the most insightful and illuminating amongst a number of such attempts that deal with the global financial crisis, which is wrecking lives and economies across the world to this day.The reason is that
During his final news conference of 2016, in mid-December, President Obama criticized Democratic efforts during the election.
In May 2009 Congress created a special commission to examine the causes of the financial crisis. The idea was to emulate the celebrated Pecora Commission of the 1930s, which used careful historical analysis to help craft regulations that gave America two generations of financial stability.
This article is a collaboration between The Times and ProPublica, the independent nonprofit investigative organization. On the evening of Jan.
In case you forgot to mark your calendar, April is Financial Literacy Month, that time of year when you're supposed to assess how much (or how little) you know about money and finances.
Watching cable news over the weekend, I came across one of those “gold is the only real investment,” commercials. Since 2008, though, gold has not been a very good investment. But people fall for these commercials all the time.
When a true genius appears in the world you may know him by this infallible sign, that the dunces are all in confederacy against him. It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.
ATHENS — Forced by his nation’s creditors into broad new concessions to avert financial collapse, Prime Minister Alexis Tsipras of Greece returned home on Monday with just days to sell the deal to fractured lawmakers and a dazed electorate.
This week’s Vulture cover story, on Adam McKay’s The Big Short, asks whether America is angry enough for a Hollywood version of Occupy Wall Street, and if McKay’s brand of dick jokes can actually teach us something about the financial crisis and what went wrong in 2008.
The main problem with Wall Street isn’t that, as Bernie Sanders says, the banks are too big to fail. It is that the bankers who run them are too big to nail—to be held financially and personally liable for the bad or corrupt decisions they make. This is now, sadly, documented history.
The president’s aide stole a march on Democrats by shouting about economic injustice. But his solution – a return to pre-1960s social mores – is bizarre
Taking on Wall Street makes for good politics in the Democratic Party. And several of the candidates at Tuesday night's debate had tough words about big banks. That was particularly true of former Maryland Gov. Martin O'Malley and Vermont Sen. Bernie Sanders.
The Republican-led House on Thursday voted to free Wall Street from many of the constraints put in place after the 2008 financial crisis, the opening salvo in what is likely to be a protracted battle over deregulation of the powerful banking industry.
The world of finance has provided the backdrop for many dramas, from mergers and acquisitions and Wall Street shenanigans to Tulip Mania, and let's not forget about the financial crisis. Finance obviously has no lack of gripping topics for authors to write about.
There’s a very deep, important concept in economics that gets way too little attention from the public (and possibly from economists themselves). This is the idea of asymmetric information.
Peter J. Wallison, the 73-year-old conservative Republican, former White House counsel under President Ronald Reagan and current fellow at the American Enterprise Institute, is determined to change the understanding of the cause of the 2008 financial crisis. It’s an uphill battle.
MUSEUM SIAM in Bangkok is dedicated to exploring all things Thai. Until July 2nd, that includes an exhibition on the Asian financial crisis, which began on that date 20 years ago, when the Thai baht lost its peg with the dollar.
Another financial crisis is “certain” and will come sooner rather than later, the former Bank of England governor has warned. Mervyn King, who headed the bank between 2003 and 2013, believes the world economy will soon face another crash as regulators have failed to reform banking.
On February 3 President Trump issued an executive order directing the Treasury Department to conduct a sweeping review of financial regulation, including Dodd-Frank, the financial reform bill passed, in 2010, as part of the Obama administration’s response to the 2008 financial crisis and subsequ
The conventional wisdom within the banking industry about its troubles since the recent global financial crisis goes something like this: Rightly or wrongly, regulators imposed new rules that forced banks, particularly in the U.S.
By John T. Harvey We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck. But, there is no mechanism forcing it to alter its models when they don’t appear to work.
"Much has changed since the last edition of Stocks for the Long Run. The financial crisis, the deepest bear market since the Great Depression, and the continued growth of the emerging markets are just some of the contingencies directly affecting every portfolio in the world.