Bankers to the rescue? On Wednesday, the West's major central banks launched a coordinated effort to prop up the floundering eurozone. Essentially, the banks moved to lower the cost of loans by making more dollars readily available, all in an attempt to help stave off a credit crunch. "At last, somebody does something!" says Tim Worstall at Forbes. Many investors shared that sentiment, and markets shot up on the news.
"Central Bankers have moved from being 'nudgers' on monetary policy to basically managing fiscal policy," warns Rick Santelli, adding that "in the West, it's now basically the same." As Santelli points out so accurately, the central... Read Post
Igor Kim snapped cast-off assets from foreign banks pulling out of Russia and now the banker says he wants to expand into Europe.Kim, 47, emerged with his partners as an asset consolidator after the global crash of 2008 forced Weste... Read Post