Ex-Citi Chief: Split Up Big Banks

6th August 2012


Ex-Citi Chief: Split Up Big Banks

In reaction to Sandy Weil's recent statement that its time to break up the big banks, Steve Schaefer asks why the architect of the Too-Big-To-Fail model didn't make similar comments in 2007-08, "when, perhaps, getting ahead of the thing, might have prevented, or at least lessened some of the impact we saw from having these enormous banks." Forbes


Congress to rescue the economy?

Republican Senator Pat Toomey is not in favour of another round of QE because the problems that are affecting the US economy are not fundamentally monetary in nature. Rather, he'd prefer Congress to act because the headwinds facing the economy are fiscal i.e. too much government spending, overregulation and the threat of a huge tax increases as a result of the ‘fiscal cliff.' CNN


China must pick up pace of economic shift

Even though Chinese authorities have enough room of manoeuvre to compensate for its slowdown, economist Jose Antonio Ocampo says China's investment-driven economy must become more consumer-led. The question then becomes, are its leaders prepared for such an economic shift? Reuters


Is the Olympics Recession Proof

ConvergEx's Nic Colas walks us through why, despite a global recession, Europe's debt crisis, and other problems in the world economy, the organisation behind the Olympic Games, the IOC, remains one of the strongest brands around planet. CNBC


'Stop robbing us!' Spain turning into Greece?

Aleksey Yaroshevsky reports that the social divisions within Spain are deepening as people refuse to accept the same austerity measures that were imposed on their Greek neighbours. RT


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