Lawyers are having a heyday Many countries, companies and private individuals are suffering severely from the credit crunch, the economic recession and the various fraud schemes (Madoff, Stanford, Enron, etc.). However, what causes misery to some represents opportunity to others, in this case, the lawyers. The financial meltdown, for instance, has resulted in governments interfering… Continue reading THE CREDIT CRUNCH, THE ECONOMIC RECESSION AND MAJOR FRAUDS SCHEMES
Tag: credit crunch
IN THE SHADOWS OF DEBT
Who is to blame for the current crisis? Massive borrowing, hedge funds, credit default swaps (CDSs), collateralized debt obligations (CDOs) and other instruments seem to be part of the current trillion dollar problem. What was known about these instruments and the risks attached to them in the recent past? There was actually quite a lot known right from the start.… Continue reading IN THE SHADOWS OF DEBT
WHO IS TO BLAME FOR BLACK MONDAY?
That remains to be seen ‘Blaming others is a sign of low self-esteem because in doing so we are not taking responsibility‘ On Monday 29 September 2008, the US House of Representatives rejected a $700 billion bailout plan aimed at stabilizing the financial system, i.e. a plan to let the least fit survive, triggering the largest point drop… Continue reading WHO IS TO BLAME FOR BLACK MONDAY?