Economy

In Scotland, one of the UK's most venerated names, the Royal Bank of Scotland, a bank that prints its own bank notes as legal tender, has been eviscerated by the over-leveraging and risk-taking of its CEO Sir Fred Goodwin. Sir Fred, an…

As the economy has faltered, George W. Bush's approval numbers have plummeted. All of this has occurred despite Americans' belief that the strategy in Iraq is bearing fruit. And last year, Iraq was a central issue for most voting…

If you don't think that the recapitalisation scheme by Gordon Brown doesn't matter, then take a look no further than Nationwide Building Society. The mutual company is not under pressure in the equity markets like RBS, HBOS or Barclays.…

Talking about how he will fare against Barack Obama in the upcoming third and last U.S. Presidential Debate, John McCain said:"We're going to spend a lot of time and after I whip his you-know-what in this debate, we're going to be going…

Spanish banking giant Banco Santander has pulled through the credit crisis with a much higher profile than ever before. I was initially skeptical that the firm was hiding huge losses at it had exposure in Spain, the UK and the US, all…

Given the historic nature of the Lehman Brothers bankruptcy, it bears explaining how the credit default swaps market work and why it matters.

At this stage in the financial crisis, it is difficult to discern exactly where things are headed. However, let me give a general road map of how I see things shaping up.The credit crisis started in August 2007 as a result of the dual…

This comes via Credit Fixings. The auction process to settle Credit Default Swap trades on Lehman Brothers bonds put the value of the debt at 9.75 cents on the dollar. That is much lower than one would have expected (12 cents on the…

The YouTube video below is gaining a wide audience on the Internet. It shows an Ohio blogger interviewing some McCain-Palin supporters after a speech and rally by Sarah Palin in that state earlier this week.The blogger's question to…

After rising from the mid 300s in May and June to almost 500,000 the past few weeks, we have finally seen a break in the claims for unemployment in the United States. This past week, 378,000 people filed initial unemployment claim, down…