Brown offers Europe a lesson in leadership
The good news is that governments are at last abandoning an ad hoc approach in favour of a systematic response, writes Wolfgang Münchau
Lehman Brothers - Politics of the bail out
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Scramble to avoid collapse
World leaders were scrambling to finalise rescue plans for their banking systems as Asian markets made cautious gains amid continued fears the financial system is on the brink of collapse. In the eurozone, governments have agreed to offer guarantees on bank debt. Britain was preparing to pump billions into four of its largest banks. In the US, officials were finishing up a plan to recapitalise banks
Eurozone set to pledge billions in rescue bid
Eurozone countries are expected to pledge hundreds of billions of euros in state guarantees for new bank debt in the next few days after agreeing an unprecedented bank rescue plan
Brown hails blitz spirit as way ahead
The prime minister evoked the spirit of the blitz to claim global leadership for Britain in the financial crisis on Sunday, in remarks that underlined his transformation from political write-off to respected statesman
Goldman links to US Treasury raise questions
Since the 1940s, when former Goldman Sachs chief Sidney Weinberg came to Washington, the Goldman Sachs credential has always stood above reproach. But now the honeymoon between Goldman and DC appears to be over
MPs to probe rescue package and bonuses
An influential Commons committee will hold an inquiry into the terms of the government bail-out following calls for retribution against ‘irresponsible’ bank bosses
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Rescue models compared
As the old financial system has collapsed, the UK and US governments have created new institutions to sort out the mess. This table compares the latest proposals with each other, and with historical examples from around the world.
Management
How to capitalise the banks and save finance
The international financial system needs repairing , but there are grounds for optimism, writes George Soros
A cruel wind
The strategy of debt-fuelled growth that transformed Reykjavik into a financial powerhouse now leaves Iceland facing an uncertain future
Markets throw one tantrum after another
For most of the past year, senior bankers have struggled to avert a collapse of faith in modern finance. Tragically, as this month’s events show, they have largely lost this fight, writes Gillian Tett
The Lehman legacy: Catalyst of the crisis
Treasury secretary Hank Paulson’s refusal to rescue the 158-year-old Wall Street bank took the upheavals into their latest and most severe phase
The shocking errors of Iceland’s meltdown
Politicians should not become central bank governors. David Oddsson is part of the problem and should resign now, writes Richard Portes
The excesses of pragmatism
There are circumstances in which people are forced to choose which they want more – democracy or prosperity. We are picking the latter, writes Christopher Caldwell
Man in the News: Gordon Brown
The British prime minister’s bold response to the financial crisis has caused the country to look at him with fresh eyes
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