How much is $1.8 billion? That all depends on how you look at it. If you’re Steve Cohen, the director and sole owner of SAC Capital, a group of hedge funds, it’s about 20 percent of your personal net worth. Agreeing to pay the government 20 percent of your net worth isn’t usually ideal, but […]
Tag Archives | economy
A few days ago, something really crazy happened in the House of Representatives, and you probably haven’t heard a word about it. To understand the depths of this crazy, however, we have to take a painful but thankfully brief look into our recent history. More specifically, we have to go back to the 2008 financial […]
Summer is here, and this season’s travel is in an advanced planning stage if not already underway. I used to travel from New York to Amman, Jordan, and vice versa for my annual vacation almost every year. Now I cannot do that, and I have to spend some summers in Philadelphia away from my other […]
Recently I ran across an article in The New York Times on business ethics. Business and ethics? Isn’t that an oxymoron? The author, Jesse Eisinger, suggested that banks and investors will routinely “forgive rotten ethics for good returns.” Not the most elegantly turned phrase, but, excuse me, doesn’t “rotten ethics” mean no ethics at all? […]
The current debate regarding the U.S. economy revolves around the recent hike in interest rates as represented by the 10-year Treasury bond rate. This rate had spent most of the last four years dancing below 1.85 percent, which is considered very low by historical standards. Suddenly, this rate has risen to over 2 percent since […]
The Antoinette Westphal College of Media Arts & Design partnered with the LeBow College of Business to host “A View from the Top with Ali Velshi” Dec. 3 in Behrakis Grand Hall. Students, faculty and alumni gathered to hear Velshi’s input on topics including the current economy, political controversy and broadcast journalism today. Velshi is […]
The driving season in the United States, which seasonally pushes gasoline prices higher, is long behind us, but the average national price for gasoline on Oct. 1 in this country was $3.80, which is the highest on record for this time of year. It also seems that there is no important drop in this price […]
Douglas Hammond For those who are logic-minded, the current state of the world can, unfortunately, be seen as a function of Europe. The age of decoupling has ended, and the era of globalization has begun. The effect of the EU on the U.S. is quite obvious, and I will give two simple examples from […]
Nevena Bosnic, a senior economics major, was selected March 9 as a 2012-13 Carnegie Junior Fellow in the International Economics program of the Carnegie Endowment for International Peace, making her the first student from Drexel to receive this distinguished award. Shocked, she immediately contacted her biggest supporters: her family, the Drexel Fellowships Office, the economics […]
Robert Zaller A lot of people have wondered why President Barack Obama chose to expend political capital in his first year in office by reforming health care instead of addressing the jobs crisis created by the financial collapse of 2008 — a collapse that tipped a close electoral race to Obama and gave him […]
Shawkat Hammoudeh Fears of a developing sovereign debt crisis in Europe started in late 2009, but the situation became particularly tense in early 2010. Crisis Europe included eurozone members (Greece, Ireland and Portugal) and also some European Union countries from outside the eurozone. In the EU, particularly in countries where sovereign debts have increased […]
Shawkat Hammoudeh The United States suffered from a financial crisis in 2008 that spread to the real economy and became a global crisis. Research has shown that economies that suffer a recession brought out by a financial crisis will have a lengthier period to get out of the slump and longer time for the ensuing […]
If you haven’t heard of the highly acclaimed satirical newspaper The Onion, you’ve probably been living under a rock. The Onion, founded in 1988 at the University of Wisconsin-Madison by juniors Tim Keck and Christopher Johnson, is one of the most entertaining news sources that will both make you laugh and really put worldly matters […]
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