Sleazy money

Article Abstract:

'Wildcat banking' was a practice in the 19th century US of locating banks in isolated locations where wild cats might be found, in order to deter noteholders from exchanging their notes for gold. Later banking scams involved savings and loan banks which had to be rescued by the US government in the 1980s. Charles Morris has studied the history of scams and financial crises in his 'Money Greed and Risk - Why Financial Crises and Crashes Happen'. He notes that financial crises appear more sudden and mysterious than crises involving other industries.

History, Fraud

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Goodbye Jack

Article Abstract:

General Electric (GE) Chmn and Chief Exec Jack Welch retires in Sep 2001 after 20 years in the job, having made GE the world's most valuable firm. Welch managed the difficult task of making a large firm grow in mature markets. His aim was for GE to be first or second in all its markets.

Officials and employees, Appointments, resignations and dismissals, General Electric Co., GE, Welch, John F., Jr.

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Virgin to shun fund supermarkets

Article Abstract:

Virgin Direct is to stop offering a fund supermarket service from Feb 2002. Virgin has offered products from 11 fund providers, but says most investors looking at Virgin's fund supermarket only want Virgin products.

Services, Virgin Direct Personal Financial Service Ltd.

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