US shut down two more banks on Friday. So, now the number of bank failures has raised so far this year to 23. The first bank was Cape Fear Bank in Wilmington, N.C., the first North Carolina bank to fail in nearly 16 years. The other bank was New Frontier Bank of Greeley, Colo., the […]
Iranian president to speak to US
As President Obama said in his inaugural address, our economic strength is derived from ‘the doers, the makers of things.’ The innovators who create and expand enterprises; the workers who provide life to companies; this is what drives economic growth. The financial system is central to this process. Banks and the credit markets transform […]
IndyMac Bank’s assets were seized by federal regulators
Accourding to Mercurynews IndyMac Bank’s assets were seized by federal regulators on 11th July 2008. Regulators said it is the second largest financial institution to close in U.S. history. The bank succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. "This institution failed today due to a liquidity crisis," OTS Director […]
Micro Finance : The New Money Plant
Ever since Muhammad Yunus won the Nobel Peace Prize for his initiatives in micro finance, the sector has been attention that had hitherto been denied it. The Professor himself has been toasted around quite a bit and the Grameen Bank has now been invited to set up shop in Assam. But the success and […]
Numb your mind with Zeroes in Zimbabwe
– By Busani Bafana Naively I have often found solace in the saying that, “good things come to those who wait”, but I have ran out of patience and all good things to describe the state of our economy. The only exception is that our economy has helped Zimbabweans to grow skins thicker than […]