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    Recent articles related to the financial crisis.

    Tuesday, October 28, 2008

     

    The Alchemy of Finance

    by Dollars and Sense

    A truly wacky story, from today's Financial Times:

    VW vies for title of world's biggest company
    By Richard Milne in London
    Published: October 28 2008 09:34 | Last updated: October 28 2008 11:02

    Volkswagen briefly became the world's largest company by market capitalisation on Tuesday as panic-buying by hedge funds desperate to cover losses caused its value to shoot up by up to 150bn euros.


    Shares in Europe's largest carmaker soared as high as 1,005 euros in early trading, having closed at about 210 euros on Friday. That gave it a market capitalisation of around 296bn euros ($369bn), higher than that of ExxonMobil, the oil company that closed on Monday with a value of $343bn.

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    10/28/2008 07:54:00 AM

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