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"AIG Financial Products, the little-known unit that set off a panic on Wall Street and came to symbolize the recklessness and greed behind the financial crisis, died this week. It was 24." Washington Post
While each graph is worth a thousand words, the lead paragraph says it all: "This is a remarkable sequence of pictures from Calculated Risk showing that no major economic indicator has returned to its pre-crisis level.... Read More
"The extraordinary actions taken to prevent the financial meltdown from becoming a Second Great Depression are going to limit what governments can do to ameliorate a second recession if it happens." Read the full... Read More
"SOME of our Congressional leaders, especially in the Republican Party, seem to want the federal government to cease operations. After all, their brinkmanship over the raising of the debt ceiling suggests that they don... Read More
"As the political temperature rises over executive pay, it has become more important for large quoted companies to be able to show that however rich the rewards available to their chief executives, they are paid... Read More
"The first half of 2011 showed a slowdown of growth – if not outright contraction – in most advanced economies. Optimists said this was a temporary soft patch. This delusion has been dashed. Even before last... Read More
"The decision by the European Central Bank to intervene in the bond markets to buy Italian and Spanish government debt is likely to prove hugely controversial - both inside the eurozone's chief monetary... Read More
Kathleen Casey, a commissioner of the US Securities and Exchange Commission, has said she will depart the agency, even though her replacement has not been confirmed. Ms Casey, a Republican on the five-member commission that... Read More
U.S. regulators, intensifying their probe of last year's "flash crash" and other market swings, have sent subpoenas to firms that do high-frequency trading, according to people familiar with the matter. The... Read More
Mortgage markets in the U.S., which remain on government life support, could be rattled by the downgrade of the U.S. credit rating, potentially raising borrowing costs for consumers. Given the "sufficiently perilous... Read More
Standard & Poor's decision to yank away the U.S. government's vaunted triple-A rating is a vivid reminder of the bond-rating industry's power even after setbacks in recent years.   Read the full... Read More
Treasury Secretary Timothy F. Geithner has told President Obama he plans to remain in his job through the fall of 2012, keeping in place Obama’s longest-serving economic adviser after the first-ever U.S. credit... Read More
IT was a blustery day in Washington on Jan. 20, 2009, as it often seems to be on the day of a presidential inauguration. As I stood with my 8-year-old daughter, watching the president deliver his inaugural address, I had a... Read More
AMID all the talk of debt and default in Washington last week, tiny Central Falls, R.I., went bankrupt. Joe Songer/The Birmingham News, via Associated Press "A protest of potential sewer rate increases... Read More
The day after Standard & Poor’s took the unprecedented step of stripping the United States government of its top credit rating, the ratings agency offered a full-throated defense of its decision, calling the bitter... Read More
The frustration in the air was palpable. Officials from the credit ratings agency Standard & Poor’s were meeting with Congressional leaders on a stifling late day in late July to discuss the thorniest issue in... Read More
"Bank of America, the lender that announced a $3 billion settlement with Fannie Mae and Freddie Mac this year, told investors that elevated claims from the firms may cost more than previously forecast. New... Read More
At the end of an ominous week for the global economy, Friday brought new signs that the world may not be ending after all — though even the good news came with asterisks. The United States managed modest job creation... Read More
"THESE are the worst of times for workers, and the best of times for companies. At least that is one way to read the newly revised national economic statistics." Read the full story at the New York Times... Read More
"One of the greatest casualties of the great recession may well be a decade of lost children." Read the full story at the New York Times