Nobel Prize Winning Economist: Crisis As Bad As Great Depression Or Worse

Former chief economist for the world bank says “you have to be in fantasy land to say that everything is fine” Steve Watson Wednesday, Sept 17, 2008 Two time Nobel-prize winner and former chief economist of the World Bank, Joseph Stiglitz has warned that the current financial crisis will continue for at least another […]

Interview with an investment banker

Just in case you missed it. Investment bankers bet and speculate. In other words they are making money with money. When the banking world was about to collapse because the bet on packets of junk bonds, and were about to be caught out on it they changed their tack. They now bet and speculate on […]

Creditors face losses in Aussie brokerage collapse

Another one bites the dust MELBOURNE – Unsecured creditors caught up in the collapse of stockbroker Opes Prime could lose up to half of their investment say receivers, as more clients seek legal action to prevent the sale of their shares. Opes Prime, which was involved in the lending and borrowing of securities, owes more […]