The Great Crash posed one question for this country: who would bear the losses? Would it be the banks that caused the problems? The officers, directors and shareholders of those banks? Their careless counterparties? The investors who bought the fraudulent real estate mortgage-backed securities and the complex spin-offs? The owners of capital who threw money into hedge funds and other exotic investments expecting a geyser of money in return?
The shareholders have finally spoken. In a move that rebuked Citigroup management and the board of directors, the bank's shareholders rejected the proposed $15 million pay package for CEO Vikram Pandit, as well as pay for three othe... Read Post
By Lu Jianxin and Kazunori Takada SHANGHAI (Reuters) - China's central bank is injecting a combined 500 billion yuan ($81.35 billion) of liquidity into the country's top banks, according to media reports, a sign that authorities are... Read Post