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Quite understandably, this virus from the US economy spread at an exponential rate to other economies of the world depending on the level of their linkage with the US financial system and economy (Davies & Green, pp. 10-18, 2008).
The concept, idea, or talk regarding the regulation of financial industry and more importantly the financial system is not a modern concept but after every major financial crisis, many authorities repeatedly emphasized its stronger implementation or modification in one form or the other. These debates turned into heated ones after the collapse of ‘Lehman Brothers in 2008, MCI inc. or WorldCom in 2004 and Enron in 2001 since underlying reason behind their collapses were accounting frauds and scandals’ (Goldsmith, pp. 8-11, 2009). It was after the crisis of 1990s when big names like the US treasury, International Monetary Fund, US Federal Serve, G8, World Bank and others decided that the world needed stronger financial regulations. The compliance largely came through peer pressure and political influence of US and other European countries (Roberts, Weetman, & Gordon, pp. 63-68 & 115-117, 2005). The countries, banks, and firms that would comply better with these regulations and standards would receive more support and would gain better access to finance than the others would. Before the 1990 crisis, these institutions were preaching “liberalization policies” with two basic principles of free market and lesser government intervention (Goldsmith, pp. 8-11, 2009). However, the 1990 crisis and the subsequent accounting scandals forced them to shift from “liberalizing the markets” to “standardizing the markets”. Nevertheless, the dilemma was that it forced these institutions to withdraw from the position of lesser government intervention to multilateral government intervention through a set of political process to regulate the markets (Davies & Green, pp. 10-18, 2008). Despite the fact that billions of dollars have been
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Global Financial Crisis of 2007 had its beginning in United States of America with the crash of the home loan or credit market during July 2007. This credit crunch which happened in United States during 2007 rapidly spread to other global economies thus jeopardizing the global financial system.
Though the present study is a literature review intended to focus only on the merger and acquisition in banking sector during the recent credit crisis, most of the information has been collected from previous works and an attempt has been made to link the same through data gathered from online sources.
The said article gives an insight into the gravity of the situation through instep understanding of the reasons for this financial crisis with the help of examples of some of the biggest banks in the world. The cause of this economic recession has been defined as the expansion of balance sheets of banks and other financial institutions over their own capital
In this paper, two papers by Read & Batson (1999) and Bewing (2005) are reviewed and compared. Both papers discus different themes and approaches of how to efficiently use spreadsheets to model financial activities.
Real financial environments are simulated by computer models as to better understand and understand its future.
He says that both the crisis, then and now have great many similarities but different outcomes. He lays down four major reasons for both the crisis. First, according to him are that surplus of savings in a number of countries- the oil producers in the 1970s, the Asian economies and commodity exporters today.
The chosen article is in the area of finance and economics with a direct focuses on banking. The article is written in the overall milieu of the financial development and development of financial structure and their concomitant and possible impact on bank performance as measured by the chosen indicator(s).
financial planning in a way that all material included in this book talks about different issues related to finance, such as, foundations of financial planning, management of basic assets, management of credit, and management of insurance needs.
I have gained a huge amount of
When a firm transacts using one currency and gets paid using another, there is always a risk of losing money and making prefects. For instance, when a firm buys stock in dollars and sells the same in pounds, it incurs the risk
statements, statement of cash flows, notes of financial statements, management reports, ration analysis, and the statement of changes in net assets or equity (Finkler, Jones & Kovner, 2012). Moreover, this chapter defines the key financial concepts that establish a financial
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