As the financial sector shifts, so does the reach of the jolt to economic structures around the world. Economist Nassim Nicholas Taleb and his mentor, mathematician Benoit Mandelbrot, speak with Paul Solman about chain reactions and predicting the financial crisis. Continue reading
Following a brief upswing in world markets this week, investors and analysts see growing signs of a global recession in weak earnings and troubling manufacturing figures. Economists discuss the ongoing problems and the forces driving them. Continue reading
- Isn’t much of the $55 trillion dollar market made up of hedge funds and other institutions betting that bonds and other debt products fail?
Question/Comment: I watched your piece on credit default swaps, which was illuminating but I think missed one point. Isn’t much of the $55 trillion dollar market made up of hedge funds and other institutions betting that bonds and other debt … Continue reading
Goldman Sachs and Morgan Stanley’s conversion into bank holding companies signaled the end of the investment bank model synonymous with Wall Street. Andrew Ross Sorkin of The New York Times details the changes on Wall Street and the impact of government bailouts on the marketplace. Continue reading
The Justice Department and the FBI announced hundreds of arrests Thursday for mortgage fraud, which is blamed for sparking a national credit crisis and nationwide housing crisis. An NPR correspondent and Columbia Law professor examine the government crackdown.