It is worth studying the 1907 panic. It was a global panic, though not the first panic to have a global character. The French Mississippi Bubble and the English South Sea Bubble both burst in 1720, and that was nearly two centuries before the panic of 1907.
April 30th, 2009 | William Rees-Mogg | 0 comments | ContinuedAll Posts Tagged With: "Citibank"
NAB Says Big Four Can’t Refinance Property Debt Without Government Help
Now we’ll find out if the 20% rally in global stocks was simply short covering and misplaced optimism, or the tentative first steps to a world-wide recovery. You know our thoughts on the matter. But the trouble with inflation is that it distorts choices and causes a man to believe that he can have more than is really possible.
April 21st, 2009 | Dan Denning | 12 comments | Continued
Citi Reports $4.69 Billion in Fixed Income Trading
So the banks have returned to profitability have they? That was the theme on the market last week. And if it were true, a recovery in bank balance sheets is just the sort of thing that might precede a recovery in the economy. But it probably isn’t true. Here’s why…
April 20th, 2009 | Dan Denning | 22 comments | Continued
Credit Markets Threaten Retail Banking, Bank Runs Next?
The share market is not the most important story today. That may be tough for you to believe. After all, the 777 point figure decline on the Dow is the most visible symptom of what’s killing the market. But in terms of percentages, Monday’s 6.9% decline in the U.S. doesn’t even rate as one of the top ten worst one day percentage declines in history. Maybe that will come later this week. It might come in emerging markets. The big story, though, is in the credit markets…
September 30th, 2008 | Dan Denning | 14 comments | Continued