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looking beyond borders

foreign policy and global economy

Archive for the tag “Wall Street”

How Wall Street Became A Cult Of Risk

Policymakers need to ask what Wall Street’s mighty money machine exists for in the first place. Should the financial business exist primarily as an end in itself, or should it be, as in the original meaning of “finance,” a means to an end? …When finance becomes an end in itself, the public is liable to get angry. That’s one reason for the wave of populism that has washed over the globe since the crisis.

Read Here – Foreign Affairs

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Here Is The International Economic Policy Trump Wants

As so often with the Trump administration, it’s easy to get bogged down in the contradictory, unusual or flat-out salacious headlines. Solar panels! Washington machines! Den of the globalizers! No female CEOs! But Trump’s first trade week of 2018, which began with the imposition of retaliatory tariffs and ended with him giving a speech in Davos, did yield the outline of an international economic policy. It has two elements which have appeared consistently across Administration policy actions, even as they may seem to be in tension with each other. One is don’t spook the [Wall Street] horses; the other, pivot away from multilateral economic governance.

Read Here – The National Interest

Obama Goes From White House To Wall Street In Less Than One Year

Hillary Clinton says she made a mistake when she gave speeches on Wall Street after leaving government. Taking money from banks, she writes in her new memoir, created the impression she was in their pocket. Her old boss doesn’t seem to share her concern.

Read Here – Bloomberg

China Stock Plunge Hits World Stocks, Dollar; U.S. Stabilizes

World stock markets plunged on Monday, after a near 9 percent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exits. After dropping more than 1,000 points, or almost 7 percent, at Wall Street’s open, the Dow Jones industrial average eased losses but was still off more than 1 percent at midday. The Standard & Poor’s 500 index was down by a similar margin after the U.S. benchmark earlier dropped nearly 10 percent below its record.

Read Here – Reuters

Questioning Capitalism

“Capitalism in Question” sounds like a consciousness-raising session from Occupy Wall Street. But it also happens to be the theme of this year’s annual meeting of the Academy of Management, an association of management professors with more than 19,000 members in over 100 countries.

Read Here – Businessweek

Saving The World The Silicon Valley Way

Not content with dominating IPOs on Wall Street, Silicon Valley entrepreneurs are taking their can-do, failure-conquering, technology-enabled tactics to the challenge of global poverty. And why not?

Read Here – Foreign Policy

Ben And His Worries

The bulls are running on Wall Street, but the chief of America’s central bank worries that the market remains dangerously fragile. Federal Reserve Chairman Ben Bernanke explained why on Friday, May 10, in a speech in Chicago at the Fed’s branch there.

Here are five things that nag at Bernanke, in his own words.

Read Here – Businessweek

What message to Wall Street from US lawsuit against Standard & Poor’s?

With its civil lawsuit against credit rating agency Standard & Poor’s, the US Justice Department is embarking on one of the most aggressive efforts yet to hold Wall Street accountable for the financial crisis.

Will anything change?

Read Here – Christian Science Monitor

The Fiscal Cliff: Bipolar Disorder – The Economist

THE denouement of the fiscal-cliff drama, unsurprisingly, ended up with a vote that split Republicans in the House. John Boehner, Paul Ryan and 83 other GOP representatives joined 172 Democrats in voting to pass the compromise bill crafted in the Senate that will raise taxes on income over $400,000 for individuals and $450,000 for couples. Just over 150 GOP representatives, including Eric Cantor, the majority leader, and Kevin McCarthy, the majority whip, voted against. The most interesting vote was probably that of Mr Cantor. As Dave Weigelwrites, Mr Cantor’s spokesman tweeted at 5pm: “Majority Leader Cantor stands with @SpeakerBoehner. Speculation otherwise is silly, non-productive and untrue.”

Read Here – The Economist

Why Investors Are Fine With a Second Obama Term

In theory and on paper, there should be no doubt that the market would much rather have a deregulating, tax-cutting, financially savvy investor in the White House. Mitt Romney is the closest thing to an accomplished businessman to get this far in a presidential race since Ross Perot ran 20 years ago.

Yet you can’t help but get the sense that the market prefers continuation of the status quo: a Barack Obama presidency, coupled with an uncooperative, GOP-led House of Representatives and more of Ben Bernanke, the most accommodating chairman in the history of the Federal Reserve.

Read Here – Businessweek

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