Pakdi.net

Friedman on Citigroup Crisis

pakdi — Thu, 27 Nov 2008 07:23:21 +0000

by Thomas L Friedman I spent Sunday afternoon brooding over a great piece of Times reporting by Eric Dash and Julie Creswell about Citigroup. Maybe brooding isn’t the right word. The front-page article, entitled “Citigroup Pays for a Rush to Risk,” actually left me totally disgusted. Why? Because in searing detail it exposed — using Citigroup as [...]

Dig It: These People Are Burying Their Cash

pakdi — Sun, 23 Nov 2008 09:02:30 +0000

The day the Dow fell 777 points, David Latham, a 45-year-old Alabama cattle farmer and electrician, was busy doing errands. Driving his Chevy pickup into Montgomery, he dropped by the hardware store, then stopped into the bank, where he withdrew $8,000 from his CD account, all in 20s. Back home, he slipped the four inch-thick [...]

Experts: Developed world is in recession

pakdi — Mon, 17 Nov 2008 13:40:29 +0000

LONDON - A leading international economic organization on Thursday said the world’s developed economies are in recession and are likely to contract next year. The Paris-based Organization for Economic Cooperation and Development said gross domestic product is likely to decline by 0.3 percent in 2009 in its 30 member countries, with the U.S. contracting by 0.9 [...]

Two Sides of A Coin

pakdi — Fri, 31 Oct 2008 03:02:42 +0000

While global markets struggle to pick up the pieces from what has been dubbed “the worst economic crisis in decades”, the Islamic finance industry was dealt a blow when Standard & Poor’s revealed that more than US$5.6 trillion had been wiped off the value of Shariah compliant equities worldwide during the third quarter of 2008. However, [...]

Buy American, I Am

pakdi — Wed, 22 Oct 2008 07:15:37 +0000

By: Warren Buffet THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary. So … I’ve been [...]