Walter Bagehot's dictum needed updating when the crisis of confidence affected entire markets rather than single banks.
As the crisis of confidence spread, more banks failed, and then more.
But he alone created the crisis of confidence, as only he could.
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Deteriorating financial market and global economic conditions have fueled a host of questions, from what caused the crisis of confidence to how we can fix it and learn from it.
With that in mind, the conversation needs to be redirected to how policymakers can create the conditions for business growth and remove the crisis of confidence that has been deterring companies from hiring.
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The crisis of confidence in the ability of eurozone countries with huge borrowings to repay all they owe has already deteriorated into a banking crisis - whose most serious manifestation to date has been talks to rescue the big Franco-Belgian bank Dexia.
But although deploying the EFSF in that way would help to put Greek public finances and the Greek economy back on the path to recovery, on its own it might actually exacerbate the crisis of confidence in the eurozone, if seen as a precedent for write-offs by other sovereign borrowers.
The subprime mortgage crisis led to the financial crisis which led to the credit crisis which led to the crisis of consumer confidence which led to a when-the-heck-is-anyone-going-to-start-hiring-again crisis.
That gives insufficient weight to the damage that Wall Street would have suffered anyway due to the crisis of investor confidence following the collapse of Enron, the accounting scandals and so forth.
Next year is likely to be a time of ongoing financial difficulty as the world seeks to steady the current crisis of confidence in the banking and credit sector.
This means that Obama remains convinced that the US is indeed to blame for the supposed crisis of confidence that the Islamic world suffers from in its dealings with America.
" The bottom line, says James Schiro, CEO of the multinational accountancy firm PricewaterhouseCoopers, is that improving corporate management "is a way to deal with the growing crisis of confidence in the region and globally.
As peers began consideration of the Constitutional Reform and Governance Bill at second reading on 24 March 2010, the House was told that wide-ranging constitutional legislation was needed following the "crisis of confidence" in politicians and the political system since the MPs' expenses scandal.
On April 11, with the crisis of investor confidence spreading from Greek government bonds to the country's banking system, the EU finally put money on the table.
Where does that leave us today in the immediate aftermath of the 2008-09 global financial crisis, just removed from the biggest crisis in confidence since the Great Depression of the 1930s (before brands were mass market and ubiquitous)?
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In the USA, there is a crisis of confidence because the results from actions of Congress and the President have been poor or non-existent.
Grim news on the state of the world's economies sent a crisis of confidence rippling through markets around the globe Friday.
In 2002, when the country faced severe crisis of investor confidence, the LFTs represented 60.8% of outstanding debt.
Chief Executive James Gorman took to sending out a memo to employees this week in an effort to reassure the rank-and-file, and Mitsubishi UFJ Financial, which owns 22% of the company by way of an investment back during the dark days of the 2008 crisis, issued its own vote of confidence.
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"After all the scandals you had a crisis of confidence in the market in general and in the institutions people looked to as upright, " says Meyer Eisenberg, acting director of the SEC's Division of Investment Management.
And this happened before the debt market crisis of confidence that began hammering Spanish economy again during 2Q12.
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The stunning series of events culminated a weekend of frantic around-the-clock negotiations, as Wall Street bankers huddled in meetings at the behest of Bush administration officials to try to avoid a downward spiral in the markets stemming from a crisis of confidence.
Together, we have cleared away the rubble of crisis, and can say with renewed confidence that the state of our union is stronger.
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"Together, we have cleared away the rubble of crisis, and can say with renewed confidence that the state of our union is stronger, " he said.
But in truth Mr. Carter's presidency had failed 17 months earlier on July 15, 1979, the night he delivered his "Crisis of Confidence" address to the American people.
The climate-gate controversy created by ethical improprieties of climate scientists at the University of East Anglia in England has created a crisis of confidence among Republicans and other political conservatives in the United States.
On Jan. 27, 2010, American confidence is in the pits and President Barack Obama gave his own crisis of confidence speech, otherwise known as the State of the Union address.
In the face of a justified crisis of confidence in capitalism, we must rebuild trust and faith in the system.
The Fund helped to contain the third-world debt crisis of the 1980s and to restore confidence in Mexico three years ago.
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