Articles About Banking Justice
Central banks are not the world’s most glamorous institutions. The word “grey” seems tailor-made to describe these lenders of last resort.
Since its creation in July 1944, the World Bank has poured billions of dollars in loans and aid into developing nations' economies. In 2005 alone, World Bank loans totaled approximately $25 billion. Given the sums involved, it is hardly surprising that questions are increasingly being raised about the results of these direct wealth transfers.
For global investors today, Latin America is China and India's poor cousin. While we routinely read of East Asia's tremendous growth, Latin America is invariably associated with business-unfriendly populists, or speculation about which country might default on its debts.
...He argues that someone becoming an investment banker could create sufficient wealth to make philanthropic donations that could make a bigger difference than someone choosing to work in a “moral” career such as an aid charity.
The global financial system is in a deepening crisis, largely due to greedy gambles with complex financial derivatives. The bailout of Bear Stearns Cos., in which the Fed provided $30 billion loan to J.P. Morgan Chase to acquire the investment bank, is only the latest -- and probably not the last -- rescue mission from the central bank. Overall, the response of the Bernanke-led Federal Reserve to the global financial meltdown has been exceedingly simple: lower interest rates.