When investment bank Lehman Brothers filed for the largest bankruptcy in the history of the United States four years ago on Sept. 15, 2008, shock and fear spread throughout the global financial system.
Academics and financial system experts are concerned about a re-emergence of America’s shadow banking system, which has been defined as “credit intermediation involving entities and activities outside the regular banking system” by the Financial Stability Board (FSB).
President of the European Commission, Mr José Manuel Barroso, congratulated European heads of state on Friday, including Taoiseach Enda Kenny, on signing the Treaty on Stability, Co-ordination and Governance in the Economic and Monetary Union.
With so many lay-offs lately, people are more keen than ever to find work. However, some employers are being investigated on charges of bias against people who are currently out of work.
WASHINGTON—The world’s largest business federation is signaling cautious optimism about the nation’s economic recovery, putting down fears of a double dip recession, at least for now.
Moody’s Investors Service lowered Iceland’s credit rating after the island’s government passed a law prohibiting any type of foreign exchange-linked loans.