Archive for 'Tag Archives: 'financial crisis''
Another Rogue Trader and the Question of Risk
Three years to the day that Lehman Brothers collapsed another rogue trader scandal has hit. Thirty one year old Union Bank of Switzerland (UBS) trader Kweku Adoboli is accused of losing £1.3 billion. Following on from [...]
A cooling breeze from Greece
In the summer months its always pleasant to walk home from my local Mosque after the sunset prayers via my local high street. There are many Turkish and Cypriot restaurants and cafes interspersed with fruit and [...]
Essay: Virtual Economy – Root Cause Analysis of The Current Financial Crisis
In a statement made to a congressional committee on April 3, 2008, the Chairman of the Federal Reserve Bernanke said that “if Bear Stearns had been allowed to fail, it would have led to a “chaotic [...]
Introducing the Islamic Alternative to Capitalism
Can you remember the olden days when a billion was a large number? In the midst of this immense financial crisis, it is difficult to keep a sense of proportion while trying to follow the attempts [...]
Fractional Reserve Banking & the Global Credit Crisis
One of the mainstays of Western finance is the use of fractional-reserve banking. Fractional-reserve banking is the practice where banks only hold a fraction of their deposits in reserve, and use the remainder as capitol for [...]
