"Defaults are not likely to exceed $20 billion, which is less than 1 percent of all municipal bonds outstanding," Richard Larkin, senior vice president and director of credit analysis at investment bank Herbert J. Sims, said.
The financial crisis that crippled the economy could happen again, Phil Angelides, chairman of the Financial Crisis Inquiry Commission (FCIC) told CNBC Thursday.
Risks that the troubles in Egypt may spread have increased and the uprisings have a negative effect on growth, as well as contributing to higher prices, economist Nouriel Roubini said.
Bank of America does not need to raise fresh capital to comply with the new regulations shaping the financial world and the quality of its credit portfolios is getting better, CEO Brian Moynihan told CNBC.
New risk retention standards could restrict the availability of credit and hurt the economy if not carefully written, according to a report released on Tuesday by a new council of US regulators.
Austerity measures put in place by peripheral euro zone countries will eventually bear fruit, but going forward bond investors will have to start getting used to taking losses on their principal, Erik Nielsen, the Chief European Economist at Goldman Sachs, told CNBC Friday.
Greece has become the world's riskiest borrower in the fourth quarter of 2010, surpassing Venezuela, while Spain, Portugal and Ireland were riskier than Iraq.
The US needs to take urgent action to cut its debt in order to prevent the next financial crisis, which may start in Washington, Sheila Bair, chair of the Federal Deposits Insurance Corp. (FDIC) wrote in an editorial in the Washington Post.
Clearing house LCH Clearnet doubled its margin requirement for Irish government bonds Wednesday, reacting to fears over uncertainty regarding the country's debt issues, which pushed yields on Irish debt higher.
Credit cards are about to undergo some “plastic surgery,” and the operation is being performed by Dynamics, maker of next-generation interactive payment cards.
Urban legends - those oft-repeated stories that sound just wild enough that they could be true, but really aren't - prey on our fears, hopes and dreams. Those involving credit cards are no exception.
The US needs to deleverage the financial system and restore market discipline and must keep the effects of protracted low interest rates in mind, as a bond bubble seems to be developing, FDIC Chairwoman Sheila Bair told CNBC.
Mayor Antonio Villaraigosa dismissed former L.A. Mayor Richard Riordan's gloomy prediction that the city will be bankrupt by 2014.
Since so many retail credit cards have APRs nearing the 25 percent range, it's more imperative than ever that consumers be able to pay for items as quickly as possible.
How credit freezes work, and whether they're for you.
Forget the underwear drawer -- it's time to get creative
Despite regulations aimed at making credit card agreements more consumer friendly, new cardholders who carry plastic from the No. 2 U.S. bank won't know the exact cost of making a borrowing mistake until it's too late.
As millions of Americans have fallen behind on paying their bills, debt collection law firms have been clogging courtrooms with lawsuits seeking repayment. The New York Times reports.
The administrator of Lehman Brothers’ German business has sold $2.4 billion of claims against the failed bank to a group of distressed debt funds, in a move that may help expedite the unwinding of the bank’s assets.
It sounds like a can't-lose proposition: Sign up for a rewards credit card, then charge all of your monthly expenses to rack up the points. All you need to do is just make sure you pay off the card when the bill comes due, and you'll soon be cashing in those points for travel, products, even money back. What could go wrong?