Tag Archives : banks

The number of active ‘toxic assets’ in the balance sheet of banks around the world could reach $4 trillion, according to new forecasts to be issued by the International Monetary Fund (IMF). The institution headed by Dominique Strauss-Kahn estimated in January that US-originated assets could decline to $2.2 trillion by the end of next year. In its [...]

“Giving large sums of money to the very people who caused the problems in the first place seems very unwise, to put it mildly,” said Srichand P Hinduja, Chairman of the diversified Hinduja Group. In an article in Forbes magazine, as a pre-G-20 London summit commentary, Hinduja said: “What we are witnessing is the trailer to the real movie.” [...]

The International Labor Organization estimates that as much as 231 million will be unemployed this year. The director general of the ILO, Juan Somavia of Chile, says that the financial crisis has become a ‘global job crisis.’ He reports, “The global unemployment could affect 231 million people in 2009, an increase of 52 million as compared to [...]

News of a phantom horse that’s been running wild stealing information from banks has turned out to be true. The Sinowal Trojan accessed some 500,000 online bank accounts over the world and stole details of the accounts. The Sinowal Trojan has finally been tracked by the RSA and according to Sean Brady from RSA’s security division, the Trojan has [...]