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The Blame Game

Ninja and sub-prime loans helped to topple investment banks like Lehman Brothers, but to lay all of the blame at the feet of poor people for the current financial crisis is just downright stupid and oh so wrong. Via Oliver Willis. Related posts: Financial Moral Hazard The Real Winners Corporate Welfare Short Selling

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Crisis Management

George Walker Bush is the first US President to graduate with a Master of Business Administration (MBA) — from Harvard Business School no less. As such, you would think that in the middle of this global banking crisis, he would be front and center helping to restore confidence in the marketplace. However, he is completely missing in action. In fact, on Monday when Wall Street and the rest of the financial markets were on their knees, he only provided a brief comment in the middle of a press conference with President Kufuor of Ghana. Yesterday, he made another brief statement. […]

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Short Selling

Banning the short selling of UK financial stocks by the Financial Service Authority is government intervention I can get behind. Had they done this even a week ago, HBOS would most likely still be standing on its own. That said, better late than never. The Times, September 19 2008 Ban on speculators who could break the banks Siobhan Kennedy and Philip Webster Speculators and hedge funds have been banned from betting on British banks going bust in a dramatic move by the City’s regulator. The Financial Services Authority hopes that the temporary crackdown will prevent the downward spirals of bank […]

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Moral Hazard Revisited

Charles Goodhart (emeritus professor of banking and finance at the London School of Economics and a former member of the Bank of England’s monetary policy committee writes in an article for the Financial Times that “worrying about moral hazard in the current circumstances is rather like refusing to sell fire insurance just after the Great Fire of London for fear of adversely affecting future behaviour.” I completely disagree. Things may be catastrophic, but that does not mean that we should not have a proper debate about government’s role in maintaining stability within the global banking system — yes, even in […]

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Vision Boards

Has anyone out there created a vision board? I am in the middle of reading The Answer: Grow Any Business, Achieve Financial Freedom, and Live an Extraordinary Life by John Assaraf & Murray Smith and they advocate creating a vision board as they “are an especially powerful tool for imprinting your aspirations on your nonconscious brain.” Considering that I am in a transition period, personally and professionally, thinking that this tool along with the others they advocate just might be the sort of new age thing to help me step up my game so was curious about other people’s experience. […]

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