Tag finance

Troubling Signs of a New Financial Crisis

Kathleen Day— No one can predict what or when the next financial crisis will be, but one can spot troubling trends. Policies and practices that contributed to the last crisis—dubbed the Great Recession it was so severe—have started to reappear. Too much debt fuels every financial crisis. So where can

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The Globalization of the Industrial and Financial Revolutions in the 19th Century

Meghnad Desai— The second half of the nineteenth century witnessed one of the many episodes of globalization. This one was built on the industrial and financial revolutions. The new inventions in transport and communications – railroads, steamships and the introduction of the telegraph – had connected the many parts of

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How Do We Fix America’s Tax System?

Michael J. Graetz— Our nation’s tax system is badly broken. Everyone knows that. The income tax law inflicts huge distortions on our economy. The only area of the economy where the tax system creates jobs is in tax planning, tax controversies, and tax compliance. Daunting income tax complexities confront taxpayers

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When Harry Met Annie: Love and Financial Fraud in the Nineteenth Century (Part 3)

Harry Marks was one of the foremost financial journalists of the late nineteenth century. He was also a man of few scruples, and his salacious love affair with Annie Koppel would be the center of a much talked about trial after he attempted to sue a rival for accusing him of fraud. This three-part series (read

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When Harry Met Annie: Love and Financial Fraud in the Nineteenth Century (Part 2)

Harry Marks was one of the foremost financial journalists of the late nineteenth century. He was also a man of few scruples, and his salacious love affair with Annie Koppel would be the center of a much talked about trial after he attempted to sue a rival for accusing him of fraud. This three-part series (read

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When Harry Met Annie: Love and Financial Fraud in the Nineteenth Century (Part 1)

Harry Marks was one of the foremost financial journalists of the late nineteenth century. He was also a man of few scruples, and his salacious love affair with Annie Koppel would be the center of a much talked about trial after he attempted to sue a rival for accusing him of fraud. This three-part series tells the

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How We Think about Wall Street

Read an excerpt from Wall Street Last month Strike Debt, an offshoot group of Occupy Wall Street, began buying strangers’ debt in order to make it disappear. Another manifestation called Occupy Sandy swooped in during the aftermath of Hurricane Sandy to assist gathering and delivering supplies, filming a documentary in the

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Globalization Is Not America’s Most Wanted

The “economy” has practically become a dirty word now. It’s usually the answer to the question, “What issue concerns Americans the most?” and has led to frantic searches for explanations. Whatever the “real” cause, one of the major scapegoats for the “Great Crisis,” as Gary Clyde Hufbauer and Kati Suominen call it, is globalization. In their book Globalization at Risk: Challenges to Finance and Trade, they argue that while globalization had a role in creating our current situation, we don’t have to send the Navy SEALs after it.

How Do You Like Them Apples?

“If anyone still harbors the fantasy that the business scandals of the past few years were the handiwork of just a few bad apples, they should read John C. Bogle’s Battle for the Soul of Capitalism,” writes Jeff Madrick in Sunday’s New York Times Book Review. Madrick’s review comes out

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Chairman of the Fed

Ben Bernanke will take over next week as Chairman of the Federal Reserve for Alan Greenspan, who is stepping down on Tuesday after more than 18 years on the job. “An extraordinary act to follow,” says Princeton Professor Alan Blinder, the Fed’s Vice Chairman under Greenspan in the mid-1990s, on

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