Current Research Journal of Economic Theory 2(1): 16-21‚ 2010 ISSN: 2042-485X © M axwell Scientific Organization‚ 2009 Submitted Date: December 09‚ 2009 Accepted Date: December 28‚ 2009 Published Date: January 30‚ 2010 Managing the Global Economic Meltdown in a Consolidated Banking Sector of Nigeria: Rhetorics or Realities J. David Agaba and M.S. Tenuche Department of Political Science Kogi State University‚ Anyigba Abstract: This paper interrogates the implications of the global economic meltdown
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Introduction In this article the main issues I will be looking at the issues raised around the views of Robert Shiller in his recent interview and book‚ finance and the good society and his opinions on the democratization of finance. The other aspect that I will also be looking at is the current regulatory reform measures that have been introduced in the OECD countries‚ including the long term and short-term measures and why they have been introduced. In Shiler’s recent interview and book
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corruption by the financial institutions. The documentary is split into five parts: Part 1: How we got here? – Explains the history behind bank deregulation. Part 2: The bubble (2001-2007)-Analyzes the housing bubble‚ credit default swaps and subprime mortgages. Part 3: The crisis- Shows the effect of the financial crisis. Describes the recession of 2007-2008‚ stock market plummeting‚ lack of credit available by banks‚ global implications etc. Part 4: Accountability- Tope executives were able
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past Congressional acts like the Community Reinvestment Act‚ the deregulation of the Glass Steagal Act and semi-government agencies like the Fannie Mac and Fannie Mae‚ as contributors to the subprime crisis. Base on your research‚ do you think that these Acts and agencies have a role to play in the subprime mortgage crisis? 2. Do you believe that the U.S. government treated different financial institutions differently during the crisis? Was that appropriate? 3. Many experts argue that when
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En Chia Angela Tsai GOVT 2302 S72 Professor Mack Harvey 02/27/2012 Top three issues of the United State United States is still a relatively young nations compare to many other countries. Although‚ U.S. has been the world dominant figure in military for the past 20 or more years‚ It still have many things that need to improve; such as‚ illegal immigrants‚ credit crisis‚ and problems with court delay. However‚ it is very hard for United States to solve these problems‚ because United States is
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experts you choose to believe‚ the current state of economy was first cyclical than secular (Leonhardt‚ 2011). This resulted in both crisis being opposing destructive financial forces. The current global financial crisis begins with worthless subprime mortgages and the banking systems cease to cooperate with each other. The failure on Wall Street when the realization those companies such as Lehman Brothers failed and the cause and effect theory heard around the world (Elliott‚ 2011). Consumers
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2013 Money and Power How Goldman Sachs Came to Rule the World William D. Cohan Contents of Book Review Page Introduction
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CONTENTS INTRODUCTION DEFINITION_ OF COMMERCIAL BANK_ *“Banks and other deposit taking institutions are financial intermediaries whose assets consist overwhelmingly of loans to a wide variety of borrowers and whose liabilities consist overwhelmingly of deposits.” THE ECONOMICS OF MONEY BANKING AND FINANCE 3rd* Edition PETER HOWELLS & KEITH BAIN Pg 32 A sound system of banking is very important for any economy. Commercial banks are directly related to the payment system of the economy. Generally
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billions of dollars due to lack of transparency in doing derivative transaction. This can be seen in the monoline insurer like the American Municipal Bond Assurance Corporation (AMBAC) and the Municipal Bond Insurance Association were affected when the subprime mortgage financial crisis took place in 2007. The issue of disclosures of derivative or the transparency of information for the parties involved in the derivative transaction still exists. The proposal in US legislator with regards to the financial
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loan back‚ since they have their money. Banks and greedy lending groups were showered with incentives to give loans to anyone for exorbitant interest rates‚ and since nobody cared if the loans were repaid‚ the commission alone was all that mattered. The massive amount of liquidity in the system and the hunger for mortgages resulted them to repackaged the loans into collateralized debt obligations (CDOs)‚ with numerous of them backed by subprime mortgages‚ then sold to investors. Besides‚ the ratings
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