Banks In Greece To Stay Shut All Week
The Greek government's decision comes after the European Central Bank announced on Sunday it will not pump more money into the depleted coffers of the country's banks. Over the past few weeks, Greeks have been scrambling to withdraw money from ATMs amid fears the nation's banks will soon run out of cash.
How One "Sack Of Shit" Mortgage-Backed Security Came To Define The Financial Crisis
The history of SACO 2006-8, as told through court documents dating back more than six years, provides a view into how the mortgage-backed security industry was built up and spectacularly collapsed. For JPMorgan, it has become the mortgage-backed security from hell.
Borrowing Advantage Of Big Banks Declines Along With Investor Belief In Government Bailout Support
A new study by the Government Accountability Office said that large banks were able to borrow money for less during the financial crisis because investors thought the government would support them, but that the funding advantage "may have declined or reversed."
Why Our Financial System Isn't That Much Safer Five Years After The Crisis
Banking executives and regulators say that with the current compensation structure and a lack of capital backing for certain financial products, the U.S. financial system is still on shaky ground, even half a decade after the crisis of 2008. The discussion was part of the Bloomberg Markets 50 conference.
Top 10 Endangered Newspapers
Those smug bastards over at Time magazine have drawn up a list of the ten major newspapers most likely to go under or go digital very soon. Topping the list is the Philadelphia Daily News, which nobody reads anyway (I'm from Philly), but some non-second-rate papers included on the list are the Chicago Sun-Times and the Boston Globe, which is reportedly losing $1 million each week.