While Greece’s current economic crisis has transfixed world markets for weeks, Wall Street’s role in the formulation of the debt crisis has generated criticism and has spared inquires from European leaders. U.S authorities for the first time have began to look into the role of Goldman Sachs and other Wall Street banks and their derivatives [...]
Author Archives: Celeste Jones Baumgardt
Canadian GDP On The Rise
The Canadian economy expanded by 5 percent in the fourth quarter, which was greater than expected. This expansion grew at the fastest annualized pace since the third quarter of 2000, said Statistics Canada, raising the likelihood of interest rate hikes later this year.
This unexpected growth will increase the odds of the Bank of Canada to [...]
Posted on March 4, 2010 – 2:04 PM
Obama Speaks and Investors Sell
Last week, President Barack Obama launched a historic campaign to restructure Wall Street. His ambition behind the proposal is to restrict the size, complexity and risk-taking capacity of the major U.S. Banks through an updated version of the 1933 Glass-Steagall legislation (which separated commercial banking and investment banking operations, lasting from 1933 until 1999).
His goals [...]
Posted on February 3, 2010 – 8:15 PM
Global Fortunes As The Mighty Greenback Declines
The accelerated decline in recent months of the greenback has been seen as a necessary ingredient in the search to create a post-crisis economy that is less prone to financial catastrophe. It has forced countries such as Canada, Japan and the European Union to diversify their trades, which could potentially lead to a stronger, wealthier [...]