25 Years Later: In the Crash of 1987, the Seeds of the Great Recession
“History doesn’t repeat itself, but it does rhyme.” This quote, often attributed to Mark Twain, resonates with us for its pithy description of an irony we encounter everyday: In a world marked by rapid...
View ArticleBetter Safe Than Sorry: Why U.S. Securities Exchanges Closed for Second — and...
It has been estimated that as many as 60 million people could be directly affected by Hurricane Sandy, but there are a few ways in which the entire country will feel the impact of this powerful storm....
View ArticleWhy the New York Stock Exchange Sold Out to a Upstart You’ve Never Heard Of
The recent history of the New York Stock Exchange (NYSE) is interesting in part because it’s an illustration of how disruptive new technology can be. Twenty years ago the NYSE and it’s relatively young...
View ArticleWhy Derivatives May Be the Biggest Risk for the Global Economy
Four years after the U.S. recession ended, the global economy is still beset by problems. The present danger comes from Cyprus – where the sea foam once gave birth to the goddess Aphrodite but now only...
View ArticleWhat the Boston Bombing Means for the Economy and the Stock Market
Terrorism poisons everything. The greatest damage, of course, results from the lives that are lost and the people who are injured. Nonetheless, it’s natural to wonder whether an event such as...
View ArticleThe Most Profitable Two Seconds on Wall Street
The University of Michigan Consumer Confidence Index is one of the most trusted gauges of consumer sentiment, and its monthly release is followed closely by investors all over the globe. Any single...
View ArticleRewiring the Banker Brain
If you are in any doubt about how little has changed on Wall Street since 2008, check out yesterday’s front page New York Times story about how banks like Goldman Sachs and Morgan Stanley profited...
View ArticleCME Takes on London’s Aluminum Dominance
London Metal Exchange (LME), the world’s leading metal futures exchange, will see its dominance challenged by a CME Group bid to launch its own contract for aluminum. Since the Soviet Union’s collapse,...
View ArticleStocks Tumble in Early Trading
Stocks fell sharply Friday morning on poor economic data, lackluster corporate earnings and fears of economic instability in emerging markets. The Dow Jones Industrial Average was down almost 200...
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