The bill for China’s bank-lending spree is coming due. An announcement on 23 February by China’s fifth-largest lender, the Bank of Communications (BoCom), of a 42 billion yuan ($6.15 billion) rights offering, created a stir in Asian financial markets—not because it was unexpected, but because it represents the biggest fund-raising effort by a mainland company [...]
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry Paulson When Hank Paulson, the former CEO of Goldman Sachs, was appointed in 2006 to become the nation’s next Secretary of the Treasury, he knew that his move from Wall Street to Washington would be daunting and challenging. [...]
The Federal Reserve today took a step toward improving the plumbing of the short-term funding markets for banks and securities dealers that locked up during the heat of the financial crisis. The Federal Reserve Bank of New York has set up a task force of Wall Street banks to figure out how to make this [...]