One of the more gratifying moments so far this year – at least in the realm of high finance – was the decision last week by shareholders of Citigroup to reject a $15 million pay package for CEO Vikram Pandit. The shareholders …
World Finance
Democracy Could Destroy the Euro
Upcoming elections in France and elsewhere will likely show massive popular resistance to the austerity policies needed to save the common European currency
Christine Lagarde: Emerging Market Nations Will Get More Power in the IMF
Christine Lagarde, managing director of the International Monetary Fund (IMF), sees no alternative to the strict austerity policies being imposed on many peripheral European countries, says the double dip recessions in Italy and …
Does the World Believe America Will Pay Its Debts?
If you spend any time reading about economics on the internet, you’re aware of the many virtual pamphleteers who loudly portend the impending downfall of the American government and global financial system in general. It’s …
Are Female Board Members Breaking the Banks?
The conventional wisdom — not to mention a good deal of research — suggests that women are less inclined than men to take big risks with money. That’s why a new discussion paper prepared by three economists for the German …
The Fall of Bo Xilai and the Future of Chinese Growth
The fall of Bo Xilai, the former head of the Chinese Communist Party in the sprawling mid-Western city of Chongqing, is the stuff of movies. A member of the party elite and supposed corruption fighter who was seen to have …
Why Portugal May Be the Next Greece
The worst is over for the euro zone, the experts say. But Greece isn’t really fixed and Portugal could become a second big problem before year-end
Where the Fed’s Profits Come From
Stimulus policies such as Quantitative Easing have had the side effect of boosting the Fed’s net income, but they have also created a couple of big risks.
Can Asian-Style Capitalism Save the West?
As you can imagine, the people out in Asia are feeling pretty good about themselves these days. And why shouldn’t they? While the U.S. and Europe struggle with debt, unemployment and sagging competitiveness, most of Asia seems …
Obama’s World Bank Pick, Dr. Jim Yong Kim, Links Global Health and Economic Development
Jim Yong Kim would become the first doctor to lead the World Bank.
Who Should Be the Next President of the World Bank?
Everyone is focused on the U.S. presidential elections this year, but there’s another presidential race that’s heating up – the race to be president of the World Bank. It’s a process that’s just as political, but much …