Wall Street's Day of Reckoning: What's Next?
Fannie Mae and Freddie Mac, Lehman Brothers, Merrill Lynch, AIG: Given the gravity of the current financial crisis on Wall Street and its impact on global markets, Knowledge@Wharton is devoting this issue to the views of Wharton faculty and other experts on the origin of the crisis, what it might take for the economy to right itself, and what investors and consumers can expect in the coming weeks.
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Finance and Investment
Will the Levee Break? An Ocean of Bad Debt Rises despite Fed Rescues
The rescues, bankruptcies and dizzying write-downs for Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, AIG and other giants of international finance signal a reckoning for Wall Street wizards who engineered the ongoing credit crisis with opaque securities based on risky subprime home loans and the assumption that housing prices would never decline, according to a panel of Wharton professors. The flood of bad debt, they add, won't subside anytime soon.
http://knowledge.wharton.upenn.edu/article/2050.cfm
Finance and Investment
(Videocast)
Wharton Faculty Debate the Impact of the Financial Crisis
In a roundtable discussion on the fallout from a week of turmoil on Wall Street, Wharton professors Richard Herring, Susan Wachter and Franklin Allen discussed the ripple effect of the crisis across U.S. and global markets. They also speculated on the AIG bailout, which was announced shortly after this video was recorded on September 16.
http://knowledge.wharton.upenn.edu/
Finance and Investment
(Podcast with Transcript)
Jeremy Siegel on the Market: Rough Going for Now, but Stocks Still a Good Bet
The government's rescue of Fannie Mae, Freddie Mac and AIG demonstrated clearly that the financial turmoil continues on Wall Street. In an interview with Knowledge@Wharton, Wharton finance professor Jeremy Siegel says there are some positive signals in stocks and corporate earnings, but that it's too soon to conclude the market has hit bottom. Siegel also talked about inflation and commodities.
http://knowledge.wharton.upenn.edu/article/2052.cfm
Finance and Investment
(Article with Additional Videocast)
After the Bailout: How Can the Fed Clean Up the Fannie and Freddie Mess?
The government's refusal to save Lehman Brothers begs a question: Why did it step in only a week earlier to risk up to $200 billion in taxpayer money to shore up mortgage giants Fannie Mae and Freddie Mac? Wharton faculty say the government made the right move -- and offer suggestions for the next step.
http://knowledge.wharton.upenn.edu/article/2046.cfm
Insurance and Pensions
(Podcast)
AIG Rescued: Was an $85 Billion Loan the Right Answer?
After refusing to bail out Lehman Brothers, the government agreed to an $85 billion loan to insurance giant AIG, effectively taking over the company. Knowledge@Wharton talked to Wharton insurance professors Olivia Mitchell and Kent Smetters to find out how the world's largest insurer got into this situation and how it can be prevented from happening again.
http://knowledge.wharton.upenn.edu/article/2051.cfm
Leadership and Change
Eyes on the Wrong Prize: Leadership Lapses That Fueled Wall Street's Fall
Executives at AIG, Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac may have ignored or failed to see the level of risk their companies were taking on in a crusade to enhance results and their own compensation, according to Wharton faculty and industry analysts. In some cases, the management crisis was fueled by managers simply choosing not to lead.
http://knowledge.wharton.upenn.edu/article/2048.cfm
Finance and Investment
Note to Investors: Don't Play Games with Asset Allocation
Big market downturns and jarring volatility have left small investors feeling whipsawed -- and nervous. But it would be a mistake to abandon classic long-term personal finance principles in the face of recent challenges. The 60% stocks, 30% bonds and 10% cash approach remains the best strategy. Wharton finance professors Jeremy Siegel, Richard Marston and Franklin Allen explain why.
http://knowledge.wharton.upenn.edu/article/2049.cfm
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Election 2008
(Article with Additional Videocast)
Linking Commerce to Geopolitics: The Candidates' Views on Global Trade
With global financial markets in turmoil, trade will most likely be an urgent concern for the next president. As part of Knowledge@Wharton's ongoing coverage of the upcoming November election, we examine the candidates' views on trade issues. So far, both Republican John McCain and Democrat Barack Obama have tended to follow predictable party lines: McCain is a supporter of free trade and would back additional multilateral trade pacts, while Obama urges a reexamination of trade agreements and their effect on the environment and U.S. workers.
http://knowledge.wharton.upenn.edu/article/2047.cfm
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Diplomado en RSE de la ONU
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