Daily Archives: November 28, 2011

The pun proved irresistible. “Mystery Ends, Mistry Begins”, ran the headline in India’s Economic Times on the appointment last week of Cyrus Mistry to succeed Ratan Tata at the head of the eponymous tea-to-steel holding company. If the succession was a mystery, it looked to have a pretty feeble final twist.

John Gapper

For close observers of the size of the backing that governments and central banks gave to banks and investment banks during the 2007-08 financial crisis, Bloomberg Magazine has a fascinating breakdown of the figures.

As I noted in my column last week on Hank Greenberg, the former head of American International Group, the liquidity support offered to financial institutions by the Federal Reserve – including use of the discount window – is enormously valuable. Read more