Government interventions to stem the financial crisis
Interactive feature: This graphic examines the content and the scale of government interventions to stem the crisis
Principal content
Global markets rally ahead of $250bn US rescue package
European markets opened strongly after a historic rally on Wall Street and Japan’s Nikkei index closed with its best gains ever in response to a €1,873bn ($2,546bn) pledge by European governments to shore up their financial sectors. Investors were also awaiting details of a $250bn US bail-out package due to be released later in the day
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Interactive
Economists’ Forum
Reserve accumulation and financial stability: Since the 1990s central banks in emerging markets have built up huge foreign reserves. Maurice Obstfeld, Jay Shambaugh and Alan Taylor ask why
McCain the merciful
Gideon Rachman’s blog: McCain is said to be fighting dirty. But he has not gone after Obama over his association with the Reverend “goddam America” Jeremiah Wright
Bank Street
Interactive graphic: Follow the fortunes of some of the world’s largest banks as they navigate the global financial crisis
Comment
The crisis is redefining our leaders
In a crisis, Gordon Brown and George W. Bush’s manners are transformed – one for the better and one for the worse, writes Gideon Rachman
A system overwhelmed by innovation
Obama’s ambitions for healthcare, infrastructure and taxes will run up against the demands the rescue will place on present and future taxpayers, writes Clive Crook
Ushering in the age of control
As far as public esteem is concerned, bankers are now down there with second-hand car salesmen, estate agents and journalists, writes Philip Stephens
Remember the little ones at the bottom
Michael Skapinkeron how an obsession with ‘numbers’ led to the stripping away of employee benefits and the disappearance of staff who cared about the customers
Lex
World trade
Without trade finance much of world trade could dry up
Pakistan’s economic crisis
A precarious position aggravated by high inflation and political instability
Editorial comment
Nationalise to save the free market
Gordon Brown is not putting capitalism to the sword in favour of the state. He is using the state to defeat the market’s most dangerous enemy: widespread depression
Why Mr Krugman deserves his Nobel
The New York Times columnist could with equal justice have been awarded the prize for reminding the world that rigorous economic ideas matter
