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US Stocks Plunge; Auto Doubts Weigh, Citigroup FallsThe 2008 stock-market crash looks like the worst since the 1929 to 1933 event as fears spread to the health of some of the world's largest...

The 2008 stock-market crash looks like the worst since the 1929 to 1933 event as fears spread to the health of some of the world's largest manufacturers and financial institutions

18:56 BANKING CRISIS: THAIN (MERRILL), LIKE THE GREAT DEPRESSION

(AGI) - New York, 11 Nov. - Merrill Lynch president John Thain claims that the economy is looking at a crisis equal to that of the great depression of 1929. "At present the US economy is rapidly shrinking. We are looking at a global slowdown that will affect all those in global markets. This is not a crisis like those of 1987 or 1998 or 2001. The contraction will be much greater. We have to go back to 1929 to find a similar slowdown". Speaking of those who thing that growth in emerging economies will be able to keep growth rates untouched despite the slowdown in advanced economies, he said that "No absorption is possible. All the equity markets are interconnected. Each single economy will be affected by the crisis in some degree".

This Week in Physics History: Oct. 27 - Nov. 2

Nov. 2, 1929 - Canadian-American physicist Richard E. Taylor is born. Taylor shared the 1990 Nobel Prize in physics for work in particle scattering that helped lead to the quark model of particle physics.

Large Hadron Collider? But I just met her!

Particle accelerators are nothing new: we’ve been playing with accelerators since 1929, and even your old CRT monitor is a form of particle accelerator. But atom smashers, as they are sometimes called, are designed to accelerate particles to incredible speeds for the sole purpose of colliding them together – just to see what happens.

Breathe easy: Your job is safe and so is your bank

It’s being called the greatest financial crisis since the Great Depression of 1929. Many analysts say this is the death of free market capitalism, while others say it is the birth of a new set of regulations on the financial sector.

The End of Our Banking System?

The American Banking System is one of the most regulated industries in America. Since 1935, banks have had to deal with regulations that no other industry has come near. So what went wrong? Because of 1929, banking regulations were devised setting up minimal capital requirements. They established capital adequacy ratios in order to prohibit banks from lending more than 12 times their capital plus retained earnings. But regulators did not take into account future inflation. So regulation forced banks to limit their lending to 12 times their inflation-eroded capital.

Ice sculpture...

Two artists installed a 680kg ice sculpture spelling the word 'Economy' in Manhattan's financial district on October 29. The artists said they chose that date because it is the 79th anniversary of the day in 1929 when the stock market crashed, precipitating the Great Depression. The backdrop to the sculpture - the wide stairs and pillars fronting the state Supreme Court building - is instantly recognisable to millions of viewers of TV's 'Law & Order' series.

PRESS: Famous Polish paintings stolen from Warsaw auction house

WARSAW. NOVEMBER 19. INTERFAX CENTRAL EUROPE - Two works by famous Polish painters were stolen from a Warsaw auction house in the early hours of Tuesday morning, Polish daily Gazeta Wyborcza wrote Wednesday. "Two portraits painted by famous Polish painters were stolen from a downtown gallery," Gazeta Wyborcza wrote. "Losses have been valued at half a million zlotys. Such a burglary has not been seen in the capital for years." The alarm was triggered at the Desa Auction House at 2:37 a.m. Tuesday morning, but but by the time security guards arrived at the scene there was no sign of the thieves. The stolen paintings include "The Portrait of a Lady" by Polish painter and philosopher Stanislaw Ignacy Witkiewicz (1885-1939) and a painting by Jacek Malczewski (1854-1929), a painter from the Polish symbolism movement.

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