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The USA economy recession

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  1. Recession
  2. Mechanics of American finance
  3. Efficiency vs stability
  4. Characteristics of the new economic Era
  5. Central banks & monetary policy
  6. Regulation
  7. Factors of regulation
  8. Managing Risks in a complex world
  9. Information technology & financial innovation
  10. A bubble burst
  11. The financial Meltdown A/ Bubble Inflates

In 2008 Obama was able to fix the economy. 2 years later, the spectra of the Giant depression is still looming. The first sign of recession is unemployment reaching records level 9.6% (except during the great depression) second sign: growth decrease 2.5% not enough to decrease unemployment. According to the IMF, world output contracted by 0.6% in 2009, world trade contracted by10.7% in 2009.Opinions differed about of the origins crisis. Everybody agrees that the crisis started in the US; many people think that Am (American) bankers are responsible of the crisis. Recession is not a US problem but beyond the borders of the country. According to the IMF, world input contracted by 0.6% in 2009 and world trade by 10.7%. Many people think the crisis started in the US because of the US laissez-faire and there is still controversy about the 70's crisis.

[...] A bond is another share of security. Goldman Sachs is a global investment banking and securities firm which engages in investment banking and securities, investment management and other financial services primarily with institutional clients. The firm provides mergers and acquisitions, advices underwriting service. Banks are more and more powerful and market have become increasingly competitive, diverse and volatile for example in the late 1970's company raised capital by asking theirs banks now they go directly to the financial market which are more liberalize and deregulated. [...]


[...] A bank is also called intermediation and business of banks is: disintermediation i.e. a customer deposit an amount of money on a bank. The bank will lend that money to someone else. We have Commercial banks like le Credit Lyonnais and investment banks like Lehman brothers. An investment banks is an institution that assist corporations and governments in raising capital by underwriting and acting as an agent. Investment banks prepare prospectus(book: who are the customers ) They also assist companies involved in mergers & acquisitions etc. [...]


[...] What is the price of information? www.oboolo.com o Is securitization a black box? Greenspan emphasis the role played by info during the last 20 years: mathemics progress in term of predicting to future but it didn't work because people who refer to it had big looses. Bloomberg LP was created in 1981 and his goal: create an information company. Bankers spend, investors spend billion $ in IT in order to have correct information, money became electronic and financial bonuses became increasingly sophisticated. [...]


[...] Factors of regulation: - The development of offshore market - Pressure from banks to operate in a less contained manner - Increasing competition among providers of financial services. All this led to the development of a shadow banking system. Managing Risks in a complex world o o o What's a credit risk? Can risk assessment be outsourced? What does AAA means? Credit risk is a financial risk that an obligation will not be paid and therefore a loss will result. [...]


[...] How central is wall street in the geography of global finance? What is disintermediation? he past, it already existed (for example, silk between Rom and Beijing), Now it goes faster, all kind of goods can be moved very fast throughout the world Immigrants are aware of where to find good job opportunities, Outsourcing: company move their production from Europe to cheaper countries (lower taxes, lower wages), Decisions in the US have an impact all over in the world, Globalization is everywhere (TV for example with e FIFA soccer world cup). [...]

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