Late-2000s Financial Crisis Latest News: Emerging Markets Mania was a Costly Mistake: Goldman Executive

Wochit 0:49 mins

Investors who wrongly called time on U.S. economic supremacy during the financial crisis are set to pay a hefty price for betting too much on the developing world, according to a top Goldman Sachs strategist. The European Central Bank left interest rates unchanged and will try to reassure investors rattled by new turmoil in Europe and the U.S. Federal Reserve's plans to begin winding up its stimulus. European lawmakers called for rules to limit the cash bonus paid to fund managers, but shied away from demanding the strict bonus caps that they pushed through for bankers earlier this year.

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