Since many enrolled in the clergy are pursuing avarice and shameful profit, and have forgotten the saying of Sacred Scripture: “who has not given his money in usury,” and when they offer loans, they charge a percent, this holy and great Synod justly establishes that if anyone will be found,...
On October 19, 1987 stock markets around the world crashed, a global financial crisis which started from Hong Kong and was spread to Europe and the United States as well. It came be to known as the Black Monday. Wall Street went mad. The Dow Jones Industrial Average fell 508...
The Dow Jones Industrial Average(DJIA), often simply referred to as the “Dow Jones”, is one of the market average indices, which measures the price-weighted average of the 30 large publicly owned companies traded on the New York Stock Exchange. The index, illustrating how big industrial companies are performing in general,...
Support for bad banks also raises the specter of what economists call moral hazard. If bankers know that the central bank will lend cheaply when liquidity runs dry, they needn’t take care to avoid crises in the first place. In 1873, The Economist’s editor-inchief Walter Bagehot described the danger this...
