TITLE

Wall Street withering

AUTHOR(S)
De Klerk, Vic
PUB. DATE
October 2008
SOURCE
Finweek;10/2/2008, p20
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the implications of the $700 billion bail-out plan of the U.S. to ease its banking crisis. It states that the bail-out will increase debt burden by about $10,000/family. According to the author, the American public does not favour the plan due to the exorbitant compensation paid to executives of Wall Street banks. The author also opposed to the plan of the South African government to borrow 100 billion Rand to its banks.
ACCESSION #
34942938

Tags: INTERNATIONAL economic assistance;  BAILOUTS (Finance);  FINANCIAL crises;  SECURITIES industry -- United States;  BANKING industry

 

Related Articles

  • Dear Wall Street: you've got bail!  // ICIS Chemical Business;9/29/2008, Vol. 274 Issue 12, p5 

    The author offers his insights on the U.S. government's $700 billion bailout package to help collapsing banks battle the credit crisis in 2008. He remarks that the bailout package wears out any pretense about a free market capitalist system. He notes that the bailout offers stabilized economy...

  • Uncle Sam Rescues Money Men.  // American History;Feb2009, Vol. 43 Issue 6, p15 

    The article discusses the times in which the U.S. federal government has intervened in high finance, presenting a list of five such occasions between 1914-1989 including the 1989 bailout of U.S. savings and loans institutions. Opponents of the government's September 2008 bailout of financial...

  • Why More Lending Isn't Always the Answer. Albertson, Robert // American Banker;11/12/2008, Vol. 173 Issue 219, p11 

    This article discusses reasons why more lending, especially under the Troubled Asset Relief Program, might not be the answer to the problems with the financial industry in the United States. The author believes that the U.S. government will be making a mistake by asking banks to lend rather than...

  • Bailout and Equity.  // America;10/6/2008, Vol. 199 Issue 10, p5 

    The article focuses on the break down of the firm Lehman Brothers Holdings Inc. in September 2008 as a result of the credit crisis experienced by financial markets around the world. It is inferred that to address the crisis, the U.S. government bailouts deliver a $1 trillion bill. It discusses...

  • 300 Million American Heads Simultaneously Explode. C. J. C. // Bank Loan Report;3/30/2009, Vol. 24 Issue 13, p2 

    The author focuses on the impact of the global financial downturn to the U.S. citizens. The author mentions the sufferings felt by most of the citizens in the country and cites the measures of several financial institutions in order to maintain their respective operations. The author highlights...

  • Dazed and Confused.  // DRIP Investor;Oct2008, Vol. 17 Issue 10, p1 

    The article presents questions and answers related to bailouts and bankruptcies of several companies in the U.S. including the silver lining to the market activity, how to be sure that cash assets are protected, and government bailouts to several firms.

  • LETTER TO THE EDITOR. Wellstone, David; Ia Demain, Paul; Rogers, Anthony // Hill;10/2/2008, Vol. 15 Issue 115, p16 

    Two letters to the editor are presented in response to articles in previous issues, "Soros floats Alternative Bailout Plan With Dems" in the September 30, 2008 issue and other about the worsening financial crisis of the U.S.

  • HOW THE GREEKS BROKE EUROPE. Maddox, Bronwen // Prospect;Jun2010, Issue 171, p30 

    The article discusses several issues related to the Euro currency crisis in Europe. As stated, the bailout by the U.S., the European Union (EU) and the International Monetary Fund has saved the Euro for now but it has torn up the rules by which the European Central Bank runs the bloc of 16...

  • Fearing regulation, LI banks avoid bailout money. Glasser, Laura // Long Island Business News (7/1993 to 5/2009);12/19/2008, Vol. 55 Issue 62, p7A 

    The article reports that the banks are avoiding the bailout money in Long Island, New York. According to Brad Rock, chief executive of Hauppauge-based Bank of Smithtown, the reason they are undecided is there are large differences of opinion among the U.S. Treasury, bank regulators and Congress...

Share

Read the Article

Courtesy of your local library

Public Libraries Near You (See All)
Looking for a Different Library?

Other Topics