People blame the market meltdown on greed. But that's simplistic.The downturn has been created by perverse systems in organizations. I explain all that in my column here.......

The other day. I did a blog entry looking at whether credit cards would be the next shoe to drop. Clearly, with the US economy imploding and jobless claims up more than 44% on the year before, more...

There is a wonderful irony in the way hedge funds now are up for billions of dollars in losses after making a wrong bet on Germany's Volkswagen. As The Wall Street Journal tells us, they bet that...

Several weeks ago, I did a blog entry looking at American International Group's appalling accounting. There are serious questions about how this company claimed to be solvent when it was stopping...

Banks are tightening up, even cutting back, on credit cards as defaults rise, reports investors.com. With the percentage of credit card loans written off as not being paid on the rise, it is clear...

The fight over fair value continues with a Securities and Exchange Commission roundtable set to look at the fair value, or mark-to-market issue. As CNN suggests, we can expect to see some fireworks....

Home sales in the US have risen unexpectedly but let's hold off on the cheering. Look closely at the figures and you'll see that the US housing market is still in bad shape.Sales are still...

Yesterday, I did a blog entry looking at how all these failed companies were lining up at the trough to get some of the $700 billion Paulson bailout package.Now, The Wall Street Journal tells us that...

The Organization for Economic Cooperation and Development's (OECD) working group on bribery has published a special review of the UK's record in fighting foreign bribery and it's not...

The name of the game now is competing for a slice of the bailout. Insurers, automakers, securities dealers and banking types are all lining up for a slice of the action with the Financial Services...

In his book The Age of Turbulence, former Fed chief Alan Greenspan proclaimed that subprime was a good thing for America. "The gains were especially dramatic among Hispanics and blacks, as...

In another sign that the global economy is deteriorating fast, the European car industry is in serious strife.First, we have Fiat admitting that it's burning cash and it warns that its profit...

Jailed for more than six years for Fraud, Conrad Black is "working", even if it's for gratis, for Tina Brown's web venture The Daily Beast.The disgraced businessman has taken to...

So what are the bets for how long we will be in recession? In Britain, the Financial Times suggests one year with a one in three chance that it will last longer.Finland's Finance Minister Jyrki...

As the search for culprits behind the meltdown continues, ratings agencies have found themselves in the gun. Executives from Moody's and Standard & Poor's have told Congress that the...

A fascinating theory put up by the irrepressible Daniel Gross at Newseek that there is a correlation between the concentration of Starbucks outlets in a country's financial capital and the...

Britain is about to enter a bad recession, warns the Bank of England Governor Mervyn King.The problem in Britain has been the ocean of credit that fueled the housing price bubble. Now that ocean is...

Try and figure out the mind of the market, it's always a mystery. Shares in American Express rose 9% after it beat analysts estimates for third quarter earnings. That's despite a 23% drop in...

Brother, can you spare a yacht. Times must be getting really tough with billionaire Carl Icahn planning to sell his 177 foot yacht for a cool $37 million.Cityfile provides us with the brochure...

It's bad enough that AIG presented a completely false picture of its finances in its 2007 annual report, including a sign off from the world's biggest audit firm PricewaterhouseCoopers that...

Further evidence that US regulators are not at all interested in fixing the corporate governance mess that helped speed up the meltdown.As part of the $700 billion bailout package, the US Treasury...