US Financial Crisis: Effects on Global Banking
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Code : ECC0006
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Region : US |
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Introduction: Economic fallout that emanated from credit crunch was intimidating the very existence of several big financial institutions and banks in US. Tremors created in the financial market by subprime mortgage quake, started shaking the very base of the citadel of US' financial system, causing devastation across global stock markets and banks. In the wake of biggest bank failures in the US, the public declaration of losses by tottering diversified financial service provider â€" North Carolina-based Wachovia Corporation (Wachovia)2, shocked the already helpless investors... |
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