| V V: The Great Depression, 1929, and us | 21-NOV-09 |
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| Because of the close parallels between the current global financial crisis and the Great Depression, 1929, it is no wonder that there is no end to books on what we need to do now — or what it really meant then and who was responsible for the meltdown. Liaquat Ahamed, a professional investment manager for 25 years who has also worked for the World Bank and now an adviser to several hedge fund groups in the US, has come with his own diagnosis of what happened to the West after World War I, of bubbles followed by busts and a cascading series of events that led to the Great Depression, in Lords of Finance: The Bankers who Broke the World (William Heinemann, Special Indian price, Rs 1,185). |
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| That 70s show | 16-OCT-09 |
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| Dow 10,000: Investors have rejoined the 10,000 Maniacs. The Dow Jones Industrial Average closed above that level on October 14. The venerable US stock benchmark first crossed that threshold in the dotcom bubble. It held higher for five years during the housing bubble. Long-term metrics suggest it is now in a new bubble. If the Great Depression or even the 1970s are a guide, it'll be back and forth across 10,000 for years. |
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| IMF-WB meet tomorrow as world struggles to revive growth | 05-OCT-09 |
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| The International Monetary Fund (IMF) and the World Bank begin their two-day annnual meetings here tomorrow amidst calls for giving emerging economies a greater stake in the two multilateral institutions in reshaping the world after the biggest financial crisis since the Great Depression. |
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| Obama lashes out at Wall Street | 15-SEP-09 |
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| President Barack Obama bluntly warned that some Wall Street bosses were ignoring lessons of the financial crisis, as he demanded a new age of prudence after bloated years of unchecked excess. |
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| How India survived the tsunami | 15-SEP-09 |
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| A year after Lehman Brothers, the 158-year-old Wall Street investment bank, filed for bankruptcy — signalling the global financial system’s descent into Great Depression II — the Bombay Stock Exchange (BSE) Sensitive Index has risen 16 per cent, after having hit a low of 8,160 in early March. |
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| Mack steps down as Morgan Stanley's chief | 12-SEP-09 |
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| John Mack, who struggled to return Morgan Stanley to profitability after surviving the worst financial crisis since the Great Depression, will turn over his chief executive officer title to Co-President James Gorman. |
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| US economy: contraction slows as recovery beckons | 01-AUG-09 |
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| The worst US economic slump since the Great Depression abated in the second quarter as government spending programs started to kick in, while the deepest retrenchment by consumers since 1980 augured a muted recovery. |
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| Still heading south | 04-JUL-09 |
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| US unemployment: So much for green shoots. The 467,000 decline in US non-farm payroll employment in June was greater than in any month of the 2001-02, 1990-91 or 1980-82 recessions. Even discounting possible “noise” in the Bureau of Labor Statistics figures, this shows the recession is not yet bottoming. Stock markets, budget estimates and stress test assumptions may all have been too optimistic. |
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| Lunch with BS: Liaquat Ahamed | 19-MAY-09 |
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| From making films to running think-tanks, this bond trader has moved between strangely disparate worlds with aplomb. |
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