US Financial Crisis: US Banking Sector at Crossroads?
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Code : ECC0023
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Region : US |
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Introduction: "The rainmakerswho preached themantra of complexfinance to transformbusinesscouldn'tsavethemselves and jeopardised theworld in the bargain,"1 stated,A.V.Rajwade, an Indian consultant for financial institutions.Going by the events atWallStreet andthe consequencesof thesame, one cannothelpechoing thesame sentiment. Ironically, the bigInvestment banks(I-banks) onWallStreet,which hadprofessed financialmanagementtotheworld, failedtodefend themselvesfromthefinancial stormthat arose out of subprime crisis in the US... |
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