The financial crisis of 2008 was not the first. In
of Finance you see some of the obvious parallels from the 1920s.
Liaquat Ahamed focuses his story on Montagu Norman of the
Bank of England, Benjamin Strong of the New York Federal Reserve, Hjalmar
Schact of the Reichsbank and Emile...
You can't really criticize Harry Markopolos. He was
right. He had spotted something wrong with Bernie Madoff years before the
biggest Ponzi scheme collapsed. Unlike many others, Markopolos contacted the
Securities and Exchange Commission about his suspicions. They ignored him.
So what caused the 2008 financial crisis? We know that
the direct cause was the meltdown in the US housing market. I think we are
still trying to put together the pieces and point the finger of blame. It was a
big bubble and there was an explosive reaction when the bubble burst. It took
Berkshire Hathaway Chairman Warren Buffett is often
referred to as the "Sage of Omaha" and is respected for his business insight.
But in many ways his reputation for sagacity is simply a by-product of a very
basic, company-related project. What Buffett set out to do was to cultivate a