Following the problems in the sub-prime lending market in America and the run on HBOS in the UK, the financial crisis has now hit Japan. In the last 7 hours Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced […]
This week, the World Economic Forum rated Canada as having the soundest banking system in the world. The US was rated #40. Even Switzerland, which is known for their banks, ranked #16. According to Canadian Finance Minister Jim Flaherty, “We’re a relative rock of stability in this situation, but of course we’re vulnerable to spillovers from […]
© Michael Ramirez Of course, his fall was also softened by a golden parachute.
Hypocrisy is AIG going ahead with plans for a $440,000 executive retreat to a posh California resort (including $23,380 in spa treatments, plus golf outings and lavish hotel accommodations) one week after receiving a $85 Billion bailout from the government, which they argued they needed to keep from going bankrupt. But the icing on the cake? […]
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