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| China Needs Detroit-Style Bankruptcy as Debt Problems Remain: Central Bank Official "Whether (bonds) can be issued, and at what price, must be examined and screened by the financial markets. ... to take concrete measures to strengthen the regulation of local government debt next year as policymakers look to rein in a massive debt pile and reduce financial risks facing the economy.
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| METALS-Shanghai copper hits two-month peak over gas shortages CHINA: Beijing must proactively but gradually reduce debt in the economy to prevent the buildup of financial risks, state news agency Xinhua quoted the ... Financial markets in the U.S., U.K., Germany, France, Brazil, Hong Kong, South Korea, India and Australia are closed on Monday for Christmas.
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| Tulip Mania One of the greatest bubble stories in the history of financial markets dates back to the 1600s and is referred to as Tulip Mania. The price of fashionable tulips, highlighted by "Wall Street" character Gordon Gekko, soared in value astronomically before crashing down almost as quickly.... Read More >>.
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