Saturday, 25 May, 2019
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David Malpass, World Bank president nominee for U.S. President Donald Trump, right, listens while Trump speaks in the Roosevelt Room of the White House in Washington, D.C., on 6 Feb., 2019

Trump attacks the World Bank by nominating an unconventional chief

Donald Trump's nominee for the post of World Bank president has been a critic of multilateral institutions.

Ten misunderstandings surrounding the 2008 financial crisis

The financial crisis of 2008 was so complex that even today many don't have a clear understanding of what went down. 
Wall street

The Lehman crisis was bad, but the government’s cure could leave us all worse off

A growing portion of the financial ecosystem has retreated into the shadows where there is neither transparency nor regulation. On a Sunday night 10 years ago, I was sitting alone in my midtown Manhattan apartment on 46th Street, preparing to dial into a conference call to discuss the impending demise of my employer: Lehman Brothers Holdings Inc. That morning, 14 September, it had become widely accepted that Lehman would go into bankruptcy. Farewell and personal-contact emails started to stream in from colleagues. I wondered whether we would be able to return to work Monday. The call was like a tall glass of Kool-Aid. Lehman would probably find a buyer, and as part of the “good bank,” our team would be on safer ground, we were told. We could also market our group and perhaps find a new home. I drank with gusto. That was Lehman. The toughest bank on Wall Street. This wasn’t a white shoe firm like Goldman Sachs or Morgan Stanley. It was...
Illustration by Peali Dezine

2008 financial meltdown could have been averted if not for Wall Street’s unmoderated greed

Not a single banker has been prosecuted for the 2008 crisis, whereas hundreds of bankers went to jail following the US savings and loan scandal of the 1980s.
Wall street

Banks are still not trustworthy, even if they tell you they are

Though regulators claim financial systems are now stronger than they were in 2008, their resilience is yet to be seen. 
(Photo for Representation)

Netflix isn’t the world’s most valuable media company any more

With its current market cap of $153.8 billion, Netflix again provokes concerns that it has become an investment bubble.
Netflix

Movie streaming giant Netflix subscriber growth faces test after $43 billion rally

Netflix Inc. will get a chance next week to validate the more than $40 billion added to its market value since the company’s blowout earnings report in April. The main question hanging over Netflix’s second-quarter results -- much like the first -- is whether the company can add enough streaming subscribers to satisfy investors, whose bullish bets have made the stock the second-best performer in the S&P 500 Index this year. Netflix silenced critics in the first quarter, adding almost 1 million more subscribers than analysts projected. But analysts have made that task more difficult in recent months by raising subscriber estimates, even as some question the stock’s valuation. “It’s possible expectations have gotten ahead of themselves,” Macquarie analyst Tim Nollen said in a research note ahead of the results. “It may take a solid beat to keep the stock momentum going.” Nollen has the equivalent of a buy rating on the...
A share broker monitors market fluctuation

On BSE, total investor wealth plummets by Rs 10 trillion

Total investor wealth, measured in terms of cumulative market value of all listed stocks on BSE, fell by Rs 10 trillion in past three trading sessions to Rs 143 trillion

Stock market bloodbath in India: What stocks should you buy now?

The rout came after US stocks plunged in highly volatile trading on Monday, with the Dow industrials falling nearly 1,600 points during the session.
book and author

‘Wisdom of Finance’ uses myth, literature and history to explain the mysteries of Wall Street

Desai considers Elizabeth Bennet an incredible financial practitioner and would agree Madonna’s ‘Material Girl’ provides better financial advice than an average sales pitch.

On Camera

Congress headquarters

One in three people at Congress rallies may not have voted for the party: Lokniti-CSDS

Survey data from BJP and Congress rallies during 2019 election suggest that huge crowds are deceiving and don’t translate into votes in favour.
elections

Does Congress have a future in India after 2019 Lok Sabha election results?

The Congress party faced a crushing defeat in the 2019 Lok Sabha elections at the hands of Narendra Modi-led BJP.

Defence

An AN-32 aircraft of the Indian Air Force

IAF workhorse AN-32 gets a fuel that’s green and creates jobs for tribals

The IAF will now run its AN-32 transport aircraft on a blended bio-fuel partly derived from trees. It plans to widen the experiment over the next two years.
Graphic by Soham Sen | ThePrint

The Mandal-Mandir era is over, make way for Modi

BJP's Mandir politics has subsumed Mandal under Modi-Shah and created a pan-Hindu vote. Modi's challenger has to invent a new politics.